Caterpillar Inc. has announced third-quarter 2023 sales and revenues of US$16,8-billion, a 12% increase compared with US$15-billion in the third quarter of 2022. The increase was primarily due to favourable price realisation and higher sales volume.
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 per share was US$5,45, compared with third-quarter 2022 profit per share of US$3,87.
Adjusted profit per share in the third quarter of 2023 was US$5,52, compared with third-quarter 2022 adjusted profit per share of $3.95. Adjusted operating profit margin and adjusted profit per share for both quarters excluded restructuring costs. Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on page 12.
For the nine months ended September 30, 2023, enterprise operating cash flow was US$8,9-billion, and the company ended the third quarter with US$6,5-billion of enterprise cash. In the quarter, the company paid dividends of US$0,7-billion and repurchased US$0,4-billion of Caterpillar common stock.
“I would 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,” says Chairman and CEO Jim Umpleby. “We remain focused on supporting our customers’ success and executing our strategy for long-term profitable growth.”
