PHOTO COURTESY CATERPILLARCaterpillar is reporting fourth-quarter sales and revenues of $17.1 billion, a 3% increase compared with $16.6 billion in the year-over-year quarter.
Caterpillar doesn’t single out sales in the marine segment.
Full-year sales and revenues were $67.1 billion, up 13% year-over-year from $59.4 billion. The increase reflected favorable prices and higher sales volume driven by higher equipment sales.
Operating profit margin for the year was 19.3%, compared with 13.3% in 2022. Adjusted operating profit margin was 20.5%, compared with 15.4% in the previous year. Full-year profit was $20.12 per share, up from $12.64 per share. Adjusted profit per share was $21.21 compared with $13.84 in 2022.
“I’m very proud or our global team’s strong performance as they achieved the best year in our 98-year history, including record full-year sales and revenues, record adjusted profit per share, and record ME&T free cash flow,” chairman and CEO Jim Umpleby said in a statement. “We remain committed to serving our customers, executing our strategy and investing for long-term profitable growth.”
Operating profit margin was 18.4% for the fourth quarter, compared with 17% for the year-prior quarter. Profit per share was $5.28, compared with $2.79 profit per share in the prior year. Adjusted profit per share was $5.23, compared with $3.86 year-over-year.
Adjusted operating profit and adjusted profit per share for the year excluded restructuring costs.
Energy and transportation revenues for the fourth quarter $7.7 billion, a 12% increase year-over-year. The “All Other” segment had fourth-quarter sales of $116 million, a 5% increase year-over-year.
