The Rising Influence of Rising Affluence

[DewDiligence]

CAT shares_hit_all-time_high_on_2Q23 “beat” with_robust_growth_in_all_business_segments.

2Q23 sales were 17.3B, +22% YoY. (The Wall Street consensus was $16.5B, so this was a solid beat.)

2Q23 non-GAAP EPS was $5.55, up from $3.18 in 2Q22. (The Wall Street consensus was $4.57, so this was a huge beat.)

CAT does not provide specific guidance for sales or EPS, but it expects improved sales and margins in the second half of 2023.

PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/2q23/2q23-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2023/q2/2Q-2023-Analyst-Slide-Deck-Final.pdf

7-minute video: