Caterpillar's shares hit record high on profit beat, robust demand
Tue, Feb 6, 2024 12:51 AM

Caterpillar's shares hit record high on profit beat, robust demand

A Flip by Shubhangi Gupta
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Caterpillar beat estimates with a double-digit jump in operating profit on Monday to send its shares to a record high buoyed by mining equipment sales and higher prices across its machinery divisions. Shares for the Texas-based company were up 5%. Spending on heavy machinery held steady among commercial clients. Dealer inventories fell for the first time in four quarters, by $900 million.

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