Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings.
Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per share in the same period of last year. Unadjusted profit was $2.79 per share, compared to $3.91 per share in the fourth quarter of 2021.
The bottom line benefited from a 20% increase in sales & revenues to $16.6 billion. All the key operating segments registered growth.
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“Despite supply chain challenges, the team achieved double-digit top-line growth and generated strong ME&T free cash flow. We remain committed to serving our customers, executing our strategy and investing for long-term profitable growth,” said Caterpillar’s chief executive officer Jim Umpleby.