Caterpillar delivers ‘another great quarter’ as sales increase

CATERPILLAR has announced Q3 sales and revenues of $16.8 billion – a 12% increase compared with the same period in 2022.

The manufacturer said the increase was primarily due to ‘favourable price realisation’ and higher sales volume.

Operating profit margin was 20.5% for the quarter, compared with 16.2% a year ago. Adjusted operating profit margin was 20.8%, compared with 16.5% for Q3, 2022.

Profit per share was $5.45 – up from $3.87 last year.

For the nine months ended September 30, 2023, enterprise operating cash flow was $8.9 billion, and the company ended the third quarter with $6.5 billion of enterprise cash. In the quarter, the company paid dividends of $0.7 billion and repurchased $0.4 billion of Caterpillar common stock.

“I’d like to thank our global team for delivering another great quarter, as demonstrated by double-digit top-line growth, strong adjusted operating profit margin and robust ME&T free cash flow,” said chairman and CEO Jim Umpleby. “We remain focused on supporting our customers’ success and executing our strategy for long-term profitable growth.”