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3 mentions found


☆ Caterpillar is upgraded on strong quarterly results — and a misguided sell-off
  + stars: | 2023-10-31 | by ( Zev Fima | ) www.cnbc.com   time to read: +8 min
It's true the operating margin is expected to contract a bit from Tuesday's results. Latin America sales fell 31% due to lower sales volume that was only partially offset by higher prices. Higher prices also aided profitability, despite the dual headwinds of lower volumes and an unfavorable product mix. The adjusted operating profit margin for the fourth quarter is expected to be lower versus the third quarter result. All told, we believe the operating margin consensus on Wall Street needs an upward revision.
Persons: we've, James Umpleby, Umpleby, nonresidential, I've, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Caterpillar, Revenue, CAT, U.S, North, Energy, SG, Dealers, Guidance Management, CNBC, Peterson Locations: North America, America, Europe, Africa, Asia, China, San Leandro , California
☆ Caterpillar hits an all-time high, delivering big on an item that sank the stock last quarter
  + stars: | 2023-08-01 | by ( Zev Fima | ) www.cnbc.com   time to read: +9 min
Club holding Caterpillar (CAT) delivered another strong quarter before the opening bell Tuesday, sparking a much-deserved rally of more than 8% to an all-time high above $287 per share. Revenue in the second quarter increased 22% year over year to $17.32 billion, exceeding estimates of $16.49 billion, according to Refinitiv. On the call, management called out strong demand in both North American residential and nonresidential construction. Fortunately, China represents less than 5% of sales with weakness being more than offset by strong demand elsewhere in the Asia/Pacific region. Caterpillar dealers are independent businesses and they're not going to increase inventory levels if they aren't seeing strong demand on the near-term horizon.
Persons: —, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Caterpillar, Revenue, Financial, Construction Industries, . Resource Industries, Energy, Transportation, Machinery, Energy & Transportation, CNBC Locations: North America, America, Europe, Africa, Asia, Pacific, China, Harbor, Brooklyn , New York
☆ Caterpillar and two other real-economy stocks report strong quarters. Here's where we stand on each
  + stars: | 2023-04-27 | by ( Zev Fima Jeff Marks | Zev Fima | Jeff Marks | ) www.cnbc.com   time to read: +12 min
Caterpillar shares turn around CAT YTD mountain Caterpillar YTD Dow component Caterpillar delivered a blowout first quarter. Caterpillar revenue in Q1 increased 16.7% year over year to $15.86 billion, exceeding estimates of $15.26 billion, according to Refinitiv. Better-than-expected operating margin of 17% was so strong, due mostly to manufacturing costs that were not as high as expected as well as higher prices. Bottom Line on CAT This was a very strong quarter from Caterpillar as business continues to benefit from pricing power that outweighs costs. Even with oil down in the quarter, Caterpillar continues to see a lot of activity and strength in new engine sales to customers.
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