Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Thursday reported first-quarter 2024 financial results.
Sales and revenues for the first quarter of 2024 were $15.8 billion, which is broadly unchanged from the revenue generated in the same period of 2023.
Q1 earnings, on a per-share basis, increased to $5.75 from $3.74 in the prior-year quarter. Adjusted profit per share was $5.60 for the three months, compared with $4.91 last year.
“I’m pleased with our team’s performance that resulted in higher adjusted operating profit margin, record adjusted profit per share, and strong ME&T free cash flow. Our strong balance sheet and ME&T free cash flow allowed us to deploy a record $5.1 billion of cash for share repurchases and dividends in the first quarter,” said Caterpillar’s CEO Jim Umpleby.
