Caterpillar Stock Sinks as Lower Sales Offset Profit Beat
CATCaterpillar(CAT) Investopedia·2024-04-25 23:08

Key Takeaways Caterpillar stock dropped Thursday as weak sales offset an earnings beat in the company's first-quarter results. The construction equipment and engine manufacturer saw sales decline slightly compared with the first quarter of 2023, which was mostly offset by higher prices. International sales suffered, with sales for some categories falling as much as 25% year-over-year in some regions. Caterpillar (CAT) shares fell sharply in intraday trading Thursday as lower-than-expected sales offset a str ...