Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) on Thursday reported double-digit growth in third-quarter revenues and adjusted earnings. The company’s stock made strong gains following the announcement.
Net profit increased to $2.04 billion or $3.87 per share in the September quarter from $1.43 billion or $2.60 per share in the same period of last year. Unadjusted profit was $3.95 per share, compared to $2.66 per share in the third quarter of 2021.
The bottom line benefited from a 21% increase in sales & revenues to $15.0 billion. All the key operating segments registered double-digit revenue growth.
Check this space to read management/analysts’ comments on Caterpillar’s Q3 2022 results
“I’d like to thank our global Caterpillar team for delivering another quarter of double-digit top-line growth and record adjusted profit per share. Our team remains focused on serving our customers as we continued to see healthy demand across most of our end markets during the third quarter,” said Caterpillar’s chief executive officer Jim Umpleby.