Caterpillar Q3 Earnings: Revenue Falls Short Of Expectations, CEO Anticipates Muted China Demand

Caterpillar Inc. (NYSE:CAT) shares are trading lower after the company reported worse-than-expected third-quarter results.

Total sales and revenue for the quarter declined 4% year-over-year to $16.106 billion, missing the consensus of $16.284 billion.

CAT’s adjusted earnings were $5.17 per share, compared to $5.52 a year ago and below the consensus of $5.36.

The sales decrease was mainly due to a $759 million drop in sales volume, driven by lower equipment sales to end users and a smaller increase in dealer inventories compared to the third quarter of 2023.

Operating profit decreased 9% to $3.147 billion, primarily ...