Caterpillar Inc (CAT) Reports 12% Increase in Q3 2023 Sales
Caterpillar Inc (NYSE:CAT) reports Q3 2023 sales and revenues of $16.8 billion, a 12% increase compared to Q3 2022.
Profit per share for Q3 2023 stands at $5.45, a significant increase from $3.87 in Q3 2022.
The company returned $1.0 billion to shareholders through dividends and share repurchases in Q3 2023.
Operating profit margin for Q3 2023 was 20.5%, compared to 16.2% in Q3 2022.
On Tuesday, October 31, 2023, Caterpillar Inc (NYSE:CAT) released its third-quarter earnings report for 2023. The company reported a 12% increase in sales and revenues, which stood at $16.8 billion, compared to $15.0 billion in the third quarter of 2022. This increase was primarily due to favorable price realization and higher sales volume.
Financial Highlights
The company's profit per share for the third quarter of 2023 was $5.45, compared to $3.87 in the third quarter of 2022. The adjusted profit per share for Q3 2023 was $5.52, compared to $3.95 in Q3 2022. The company also returned $1.0 billion to shareholders through dividends and share repurchases in the quarter.
Operating profit margin for the third quarter of 2023 was 20.5%, compared to 16.2% in the third quarter of 2022. The adjusted operating profit margin for Q3 2023 was 20.8%, compared to 16.5% in Q3 2022.
Performance Analysis
For the nine months ended September 30, 2023, the company's enterprise operating cash flow was $8.9 billion. 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.
Caterpillar Inc (NYSE:CAT) continues to focus on supporting its customers' success and executing its strategy for long-term profitable growth.
Price Momentum
CAT is trading near the bottom of its 52-week range and below its 200-day simple moving average. Investors have been pushing the share price lower, and the stock still appears to have downward momentum which will find a support level and surged prior to 12% Increase in sales we should expect a surged in the stock's value.
Profit per share for Q3 2023 stands at $5.45, a significant increase from $3.87 in Q3 2022.
The company returned $1.0 billion to shareholders through dividends and share repurchases in Q3 2023.
Operating profit margin for Q3 2023 was 20.5%, compared to 16.2% in Q3 2022.
On Tuesday, October 31, 2023, Caterpillar Inc (NYSE:CAT) released its third-quarter earnings report for 2023. The company reported a 12% increase in sales and revenues, which stood at $16.8 billion, compared to $15.0 billion in the third quarter of 2022. This increase was primarily due to favorable price realization and higher sales volume.
Financial Highlights
The company's profit per share for the third quarter of 2023 was $5.45, compared to $3.87 in the third quarter of 2022. The adjusted profit per share for Q3 2023 was $5.52, compared to $3.95 in Q3 2022. The company also returned $1.0 billion to shareholders through dividends and share repurchases in the quarter.
Operating profit margin for the third quarter of 2023 was 20.5%, compared to 16.2% in the third quarter of 2022. The adjusted operating profit margin for Q3 2023 was 20.8%, compared to 16.5% in Q3 2022.
Performance Analysis
For the nine months ended September 30, 2023, the company's enterprise operating cash flow was $8.9 billion. 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.
Caterpillar Inc (NYSE:CAT) continues to focus on supporting its customers' success and executing its strategy for long-term profitable growth.
Price Momentum
CAT is trading near the bottom of its 52-week range and below its 200-day simple moving average. Investors have been pushing the share price lower, and the stock still appears to have downward momentum which will find a support level and surged prior to 12% Increase in sales we should expect a surged in the stock's value.
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