Caterpillar Inc. announced on Tuesday that its revenue for the third quarter of fiscal 2023 increased 12% to $16.8 billion, compared with the same quarter a year earlier. The figure was boosted by a positive "price realization and higher sales volume."
In the three months to September 30, the company logged an operating profit of $3.4 billion, higher than the $2.4 billion in Q3 2022. Meanwhile, diluted earnings per share reached $5.45, higher than $3.87 a year earlier.
"I'd like to thank our global team for delivering another great quarter, as demonstrated by double-digit top-line growth, strong adjusted operating profit margin, and robust ME&T free cash flow," said Chairman and CEO Jim Umpleby. "We remain focused on supporting our customers' success and executing our strategy for long-term profitable growth." Shares of Caterpillar were down 0.81% in premarket hours after the report's release.
