Welcome to our dedicated page for Caterpillar news (Ticker: CAT), a resource for investors and traders seeking the latest updates and insights on Caterpillar stock.
Caterpillar Inc. reports news on its global equipment, power and financing businesses. The company manufactures construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives, with operating activity organized around Power & Energy, Construction Industries and Resource Industries.
Recurring updates include quarterly results, segment sales, machine and power-system retail demand, dividend and share-repurchase actions, Cat Financial performance, shareholder meeting materials, executive and board changes, dealer-supported customer activity and strategic power-generation or workforce initiatives tied to advanced manufacturing and technician skills.
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Cat Financial reported first-quarter 2023 revenues of $768 million, a significant increase of $116 million or 18% from $652 million in Q1 2022. The profit for the quarter was $149 million, up $6 million or 4% year-over-year. The rise in revenues was influenced by a $123 million boost from higher financing rates. Profit before income taxes stood at $204 million, an increase of $11 million or 6%. However, retail new business volume decreased by $315 million or 11% to $2.46 billion, attributed to lower volumes in North America and Asia/Pacific. By March 31, 2023, past dues were at 2.00%, improving slightly from 2.05% a year prior.