Caterpillar Inc. Q1 revenue comes in below estimates at $15.8 billion

Caterpillar inc. today, on April 25, announced its earnings report for the first quarter of FY24.

Sales and revenues for the first quarter were $15.8 billion, about flat to the first quarter of 2023, because of lower sales volume.

Operating profit margin was 22.3%, compared to 17.2% for the first quarter of the previous year. Adjusted operating profit margin was 22.2% as compared with 21.1% for the first quarter of 2023.

Q1’s profit per share was $5.75, compared with first-quarter 2023 profit per share of $3.74.

Adjusted profit per share in the first quarter was $5.60 this quarter, in comparison to adjusted profit per share of $4.91 in Q1 of 2023.

The enterprise operating cash flow was $2.1 billion, and Caterpillar Inc. ended the first quarter with $5.0 billion of enterprise cash. In this quarter, the firm deployed $4.5 billion of cash for repurchases of Caterpillar common stock and $0.6 billion of cash for dividends.

Caterpillar Inc.’s Chairman and CEO Jim Umpleby said,

The shares of the company are trading at $363.52 reacting positively to the quarterly results.