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Caterpillar reports sales jump in Q3

Kitco News

Kitco News

Caterpillar (NYSE: CAT) announced today that sales and revenues were $15.0 billion in Q3, a 21% increase compared with $12.4 billion in the same quarter a year ago. The increase was primarily due to favorable price realization and higher sales volume.

Caterpillars resource segment performed well. Resource Industries’ total sales were $3.087 billion in Q3, an increase of $721 million, or 30%, compared with $2.366 billion the same quarter a year prior. The increase was primarily due to favorable price realization and higher sales volume.

For the nine months ended September 30, 2022, enterprise operating cash flow was $5.0 billion, and the company ended the third quarter with $6.3 billion of enterprise cash. In the quarter, the company repurchased $1.4 billion of Caterpillar common stock and paid dividends of $0.6 billion.

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