Caterpillar slid over 4% in morning trading after supply cost weigh.
Caterpillar says it expects stronger sales in Q1 2022 vs. the prior-year period with continued strong end-user demand and favorable pricing, but it also expect continued headwinds to operating profit margin.
Q4 net income nearly tripled to $2.12B compared to $780M in the year-earlier quarter, as revenues rose 23% to $13.8B; construction industry sales climbed 27% to $5.7B due to improved dealer inventories, higher end-user demand and increased prices, while resource industries sales also jumped 27% to $2.6B and energy and transportation revenues increased 19% to $5.7B.
Q4 operating profit margin was 11.7% vs. 12.3% a year earlier, as higher manufacturing costs offset some of the quarter's gains in pricing and volume.
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