Caterpillar Shares Slip On Q2 Revenue Miss; Registers 11% Revenue Growth - Caterpillar (NYSE:CAT)

Caterpillar Inc CAT reported second-quarter FY22 sales and revenue growth of 11% year-over-year to $14.25 billion, missing the consensus of $14.38 billion.
Adjusted EPS was $3.18, beating the consensus of $3.01.
Revenue growth was driven by favorable price realization and higher sales volume.
Segment Revenue: Construction Industries $6.03 billion (+7% Y/Y), Resource Industries $2.96 billion (+16% Y/Y), and Energy & Transportation $5.71 billion (+15% Y/Y).
Financial Products segment revenue increased by 2% Y/Y to $708 million.
CAT returned $1.7 billion to shareholders through share repurchases and quarterly dividends.
Operating profit increased 9% Y/Y to $1.944 billion. Operating profit margin was 13.6%, compared with 13.9% in 2Q21.
Caterpillar generated cash from operating activities year-to-date of $2.55 billion, compared to $4.05 billion a year ago. It ended the quarter with $6.02 billion of cash and equivalents.
Outlook: Caterpillar expects 3Q22 sales to increase from higher sales to users and price realization.
The company expects the adjusted operating profit margin to improve in the second half of 2022.
Price Action: CAT shares are trading lower by 2.97% at $189.08 on the last check Tuesday.
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