Caterpillar Inc (CAT)

[DewDiligence]

CAT 1Q22 results:

All told, 1Q22 was a decent quarter: sales of $13.6B (+14% YoY) and GAAP EPS of $2.86 (+3% YoY) exceeded consensus expectations; however, sales in China were down ~50% YoY due to the COVID lockdowns there.

CAT was able to capture 85-90% of its cost-of-goods inflation through price increases during 1Q22, and it expects to capture >=100% for the full year.

CAT is not providing sales or EPS guidance for 2022.


PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/1q22/1q22-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2022/q1/1Q-2022-Earnings-Release_Analyst-Slides-Final.pdf