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Caterpillar Inc CAT Stock Quote

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NYSE:CAT

Morningstar‘s Stock Analysis CAT

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Caterpillar Reports Better-Than-Expected Third-Quarter Results, Thanks to Strong Pricing

Dawit Woldemariam Equity Analyst

Analyst Note

| Dawit Woldemariam |

Caterpillar’s stronger-than-expected results led us to increase our fair value estimate to $196 per share from $193. The company increased equipment sales 22% year on year to $14.2 billion. The key drivers were strong pricing and solid volume gains. Caterpillar has flexed pricing to mitigate supply chain constraints. Headwinds included material and freight costs, as well as manufacturing inefficiencies. We expect supply chain challenges to remain persistent throughout 2022 and likely into early 2023.

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Key Statistics CAT

Company Profile CAT

Business Description

Caterpillar is an iconic manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world’s largest manufacturer of heavy equipment with over 13% market share in 2021. The company is divided into four reportable segments: construction industries, resource industries, energy and transportation, and Caterpillar Financial Services. Its products are available through a dealer network that covers the globe with about 2,700 branches maintained by 160 dealers. Caterpillar Financial Services provides retail financing for machinery and engines to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Caterpillar product sales.

Contact
510 Lake Cook Road, Suite 100
Deerfield, IL, 60015
T +1 224 551-4000
Industry Farm & Heavy Construction Machinery
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 107,700

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