Compared to Estimates, Caterpillar (CAT) Q4 Earnings: A Look at Key Metrics

For the quarter ended December 2023, Caterpillar (CAT) reported revenue of $17.07 billion, up 2.9% over the same period last year. EPS came in at $5.23, compared to $3.86 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $17.15 billion, representing a surprise of -0.45%. The company delivered an EPS surprise of +9.87%, with the consensus EPS estimate being $4.76.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Caterpillar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Sales Volume - Machinery, Energy & Transportation - Construction Industries: -$809 million versus the two-analyst average estimate of -$314.87 million.
  • Sales Volume - Machinery, Energy & Transportation - Resource Industries: -$440 million versus the two-analyst average estimate of -$166.62 million.
  • Sales Volume - Machinery, Energy & Transportation - Energy & Transportation: $561 million versus the two-analyst average estimate of $478.22 million.
  • Price Realization - Total: $982 million versus $372.39 million estimated by two analysts on average.
  • Sales and Revenues- Asia/Pacific- Machinery, Energy & Transportation: $2.97 billion versus $3.03 billion estimated by three analysts on average.
  • Sales and Revenues- Asia/Pacific- Machinery, Energy & Transportation- All Other Segments: $12 million versus $47.49 million estimated by three analysts on average.
  • Sales and Revenues- Latin America- Machinery, Energy & Transportation: $684 million versus the three-analyst average estimate of $1.71 billion.
  • Sales and Revenues- North America- Machinery, Energy & Transportation: $8.25 billion compared to the $8.03 billion average estimate based on three analysts.
  • Total sales and revenues- Financial Products- Total: $981 million versus the seven-analyst average estimate of $813.73 million. The reported number represents a year-over-year change of +35.1%.
  • Total sales and revenues- Machinery, Energy & Transportation- Total: $16.24 billion versus $16.32 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +2.3% change.
  • Total sales and revenues- Machinery, Energy & Transportation- Resource Industries: $3.24 billion versus the five-analyst average estimate of $3.30 billion. The reported number represents a year-over-year change of -5.7%.
  • Total sales and revenues- Machinery, Energy & Transportation- Energy & Transportation: $7.67 billion compared to the $7.22 billion average estimate based on five analysts. The reported number represents a change of +12.4% year over year.
View all Key Company Metrics for Caterpillar here>>>

Shares of Caterpillar have returned +9.1% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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