What's Going On With Caterpillar Shares Today?
Portfolio Pulse from Akanksha Bakshi
Caterpillar Inc reported a Q2 FY23 revenue increase of 21.6% YoY to $17.32 billion, beating the consensus of $16.50 billion. Adjusted earnings were $5.55 per share, compared to $3.18 a year ago, topping the consensus of $4.51. The increase was due to favorable price realization and higher sales volume. CAT shares are trading higher by 2.03% at $270.85 premarket on Tuesday.
August 01, 2023 | 2:34 pm
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POSITIVE IMPACT
Caterpillar Inc's Q2 FY23 revenue and earnings beat consensus estimates, driving the stock price up 2.03% in premarket trading.
Caterpillar Inc reported higher than expected Q2 FY23 revenue and earnings, which is positive news for the company. This has led to an increase in the stock price in premarket trading, indicating a positive short-term impact on the stock.
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IMPORTANCE 80
RELEVANCE 100