Caterpillar has seen a 12% boost for its third-quarter 2023 sales and revenues. These hit US$16.8 billion for 2023 compared with $15.0 billion for the third quarter of 2022. The firm said that the increase was primarily due to favourable price realisation as well as higher sales volumes.
Operating profit margin was 20.5% for the third quarter of 2023, compared with 16.2% for the third quarter of 2022. Adjusted operating profit margin was 20.8% for the third quarter of 2023, compared with 16.5% for the third quarter of 2022. Third-quarter 2023 profit/share was $5.45, compared with third-quarter 2022 profit/share of $3.87. Adjusted profit/share in the third quarter of 2023 was $5.52, compared with third-quarter 2022 adjusted profit/share of $3.95. Adjusted operating profit margin and adjusted profit/share for both quarters excluded restructuring costs.
For the nine months ended September 30, 2023, enterprise operating cash flow was $8.9 billion, and the company ended the third quarter with $6.5 billion of enterprise cash. In the quarter, the company paid dividends of $0.7 billion and repurchased $0.4 billion of Caterpillar common stock.
“I’d like to thank our global team for delivering another great quarter, as demonstrated by double-digit top-line growth, strong adjusted operating profit margin and robust ME&T free cash flow,” said Caterpillar chairman and CEO Jim Umpleby. “We remain focused on supporting our customers’ success and executing our strategy for long-term profitable growth.”
