Caterpillar reported its fourth quarter earnings that surpassed analysts’ expectations, on the back of a rebound in construction equipment sales and increasing commodity prices.
The agricultural equipment maker's adjusted earnings for the three months ending in December rose +27% from the year-ago period to $2.69 per share, exceeding the Street consensus expectations of $2.26 per share.
Revenues climbed +23% year-over-year to $13.8 billion, beating analysts' estimates of $13.15 billion.
Caterpillar’s operating profit margin fell to 111.7% from 13.4% in the previous quarter. The company’s cash as of the quarter-end was $9.3 billion vs. $19.4 billon after the three months ending in September.
The company paid out more that $5 billion to shareholders through buybacks and dividends over 2021.