Caterpillar's Q4 sales up by 20% to $16.6B
Caterpillar Inc. revealed on Tuesday that its sales and revenue in the fourth quarter of 2022 saw an annual growth of 20% to reach $16.6 billion. The company's operating profit was $1.68 billion, while its diluted earnings per share came in at $2.79, a decrease from $3.91 in the same quarter last year.
Full-year sales and revenues in 2022 were $59.4 billion, an increase of 17% compared to $51 billion in 2021. Full-year profit per share was $12.64 in 2022, compared to $11.83 in 2021.
"Our global team delivered one of the best years in our nearly 100-year history, including record full-year adjusted profit per share," CEO Jim Umpleby said. "Despite supply chain challenges, the team achieved double-digit top-line growth," he added.
Caterpillar's shares dropped 1.11% in the premarket trading.