Caterpillar shares are pulling back after soft first-quarter sales and a tepid forecast for sales growth in 2024. Caterpillar’s quarterly profit topped expectations, though, aided by $575 million from price increases that offset lower sales volumes. Caterpillar described inventories at dealers as a headwind for sales growth in 2024.
Bob Tita is a reporter who focuses on national news in the United States. He writes for publications such as The Wall Street Journal, Yahoo Finance, Agri America Marketing Inc, and the Alliance for American Manufacturing. Bob's articles cover a range of topics including labor strikes, business acquisitions, agricultural technology, manufacturing, and environmental regulations.