Caterpillar (NYSE:CAT) announced its fourth-quarter earnings, surpassing the expectations set by analysts. Following the announcement, shares rose more than 6% intra-day today.
The company achieved an adjusted earnings per share (EPS) of $5.23, an increase from $3.86 the previous year, and exceeding the consensus forecast of $4.76. The total revenue for the quarter stood at $17.07 billion, marking a 2.8% growth year-over-year, closely aligning with the anticipated $17.03 billion.
The Machinery, Energy & Transportation segment reported revenue of $16.24 billion, a 2.3% rise from the prior year, although it did not meet the expected $16.53 billion.