Fourth Quarter Financial Overview

Caterpillar Inc. disclosed its fourth-quarter earnings, revealing a 5% decrease in sales to $16.2 billion compared to the previous year. Despite this, the company saw a 4% increase in profit, reaching $2.8 billion, and a 9.4% rise in diluted earnings per share (EPS) to $5.78.

Annual Financial Performance

For the entire year of 2024, Caterpillar's revenue experienced a 3.9% decline from 2023, totaling $61.9 billion. However, profit saw a 4.9% growth, amounting to $10.8 billion, with diluted EPS improving by 10% to $22.05.

CEO's Statement

"As we kick off our centennial year, we remain committed to serving our customers, executing our strategy and continuing to invest for long-term profitable growth," stated CEO Jim Umpleby, highlighting the company's dedication amidst financial fluctuations.

Market Reaction

Following the earnings release, Caterpillar's shares experienced a 3.11% decrease in premarket trading, reflecting investor reactions to the mixed financial results.