Caterpillar Inc. said in its fourth-quarter earnings report on Thursday that its sales fell by 5% on a yearly basis to $16.2 billion. Profit rose by 4% annually to $2.8 billion and the diluted earnings per share (EPS) added 9.4% to $5.78.
The company saw its 2024 revenue fall 3.9% compared to 2023, landing at $61.9 billion, while profit grew by 4.9% to $10.8 billion, with a diluted EPS improving by 10% to $22.05.
"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," CEO Jim Umpleby said.
Caterpillar's shares sank 3.11% in the premarket trade after the earnings release.
