Caterpillar Eyes Cautious 2024 Sales Outlook Despite Beating Q2 Expectations: Details
Portfolio Pulse from Akanksha Bakshi
Caterpillar Inc. (NYSE:CAT) reported better-than-expected Q2 2024 results, with adjusted earnings of $5.99 per share and total sales of $16.69 billion. Despite the positive earnings, sales declined 4% year-over-year due to lower sales volume. The company anticipates a cautious 2024 sales outlook, expecting slightly lower sales and revenues compared to 2023. CAT's stock is trading lower by 1.14% premarket.
August 06, 2024 | 1:26 pm
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Caterpillar reported better-than-expected Q2 2024 results with adjusted earnings of $5.99 per share and total sales of $16.69 billion. Despite the positive earnings, sales declined 4% year-over-year due to lower sales volume. The company anticipates a cautious 2024 sales outlook, expecting slightly lower sales and revenues compared to 2023. CAT's stock is trading lower by 1.14% premarket.
Despite beating Q2 expectations, Caterpillar's sales declined year-over-year, and the company has a cautious outlook for 2024, expecting slightly lower sales and revenues. This has led to a negative market reaction, with the stock trading lower premarket.
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