With a 159.79 billion market cap, Caterpillar Inc. (CAT) is the world's leading construction, mining, and energy machinery and equipment manufacturer. Unlike many of its industrial peers, CAT’s shares have been on a steady rise thanks to its resilient and consistent performance. The company reported solid first-quarter results benefiting from favorable macro trends such as increased construction activity, reshoring efforts, and the transition towards renewables.
CAT reported revenues of $15.80 billion for the first quarter, driven by healthy demand across its key market segments. Its Energy & Transportation segment sales were $6.68 billion, up 6.8% year-over-year. Caterpillar’s Financial Products segment revenues came in at $991 million, compared to $902 million in the prior year’s quarter. The company’s non-GAAP profit per share stood at $5.60, beating the consensus estimate of $5.13.
