- Caterpillar Inc.
- 30 January 2025 13:29:20
Source: Sharecast
The company’s adjusted earnings per share stood at $5.14, surpassing the consensus estimate, but revenue fell short of forecasts, leading to a decline in its stock price.
Fourth-quarter revenue totalled $16.22bn, down 5% from the prior year and below the $16.64bn analysts had projected.
The drop was put down to lower sales volume, with dealer inventories decreasing by $1.3bn during the quarter.
For the full 2024 year, Caterpillar said sales and revenue fell 3% to $64.8bn, reflecting weaker demand, though partially offset by favorable pricing adjustments.
Segment performance showed broad declines - construction industries sales dropped 8% year-on-year to $6bn, while resource industries revenue declined 9% to $2.96bn.
The energy and transportation division remained stable at $7.65bn.
Despite the weaker sales, Caterpillar said it maintained strong cash flow, ending the year with $6.9bn in enterprise cash.
The company said it spent $7.7bn on share buybacks and $2.6bn on dividends in 2024.
At 0739 EST (1239 GMT), shares in Caterpillar were down 3.97% in premarket trading in New York at $377.61.
Reporting by Josh White for Sharecast.com.