Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Wednesday reported a decrease in revenue and adjusted earnings for the third quarter of 2024.
Sales and revenues for the September quarter were $16.1 billion, compared to $16.8 billion in the same period of 2023. Higher sales in the Energy & Transportation segment were more than offset by a decline in the Construction division.
Third-quarter earnings, on a per-share basis, decreased to $5.06 from $5.45 in the prior-year quarter. Adjusted profit per share was $5.17 for the three months, compared with $5.52 last year.
“I’d like to thank our global team for delivering strong adjusted operating profit margin and adjusted profit per share while generating robust ME&T free cash flow,” said Caterpillar’s CEO Jim Umpleby.
