Published on 28 Dec 2023 on Zacks via Yahoo Finance
Caterpillar (CAT) Bets on Improving Demand Amid High Costs
Caterpillar Inc. CAT has been benefiting from improving demand in its end markets and cost-control efforts, which are reflected in its eleven-quarter stint of year-over-year revenue and earnings growth. This is impressive, considering the inflationary pressures and supply-chain snarls faced by the company and the industry at large through this period.
CAT’s solid backlog and upbeat outlook for its segments position it well for improved results in the forthcoming quarters as well. The company’s ongoing investments in its expanded offerings, services and digital initiatives are expected to contribute to growth.
Caterpillar currently carries a Zacks Rank #3 (Hold).