{"id":3661,"date":"2022-04-29T11:17:48","date_gmt":"2022-04-29T08:17:48","guid":{"rendered":"https:\/\/www.turkishexporter.com.tr\/inturkey\/?p=3661"},"modified":"2022-04-29T11:17:50","modified_gmt":"2022-04-29T08:17:50","slug":"caterpillar-earnings-beat","status":"publish","type":"post","link":"https:\/\/www.turkishexporter.com.tr\/inturkey\/caterpillar-earnings-beat\/","title":{"rendered":"Caterpillar earnings beat powered by price hikes, equipment demand"},"content":{"rendered":"\n

Caterpillar, a proxy for global economic activity, has benefited from a staggering rise in prices of raw materials and oil<\/h2>\n\n\n\n

Caterpillar<\/a> Inc on Thursday reported better-than-expected quarterly profit and revenue, powered by price hikes, while a surge in oil and commodity prices led to more orders for its equipment used in facilitating production and transport.<\/p>\n\n\n\n

Shares of the company, however, slipped 2% in trading before the bell as it indicated pressure on its profit margins in the current quarter from surging costs.<\/p>\n\n\n\n

“Mining<\/a> activity will continue to increase,” Caterpillar Chief Financial Officer Andrew Bonfield said in an interview.<\/p>\n\n\n\n

Higher construction activity also powered Caterpillar’s first-quarter results, as it reported double-digit sales growth across all three of its segments.<\/p>\n\n\n\n

Asia\/Pacific equipment sales, however, fell as strict lockdowns in China, which usually accounts for 5% to 10% of company sales, hit its business in the country.<\/p>\n\n\n\n

Total operating costs in the quarter through March rose 16.5% to $11.73 billion.<\/p>\n\n\n\n

Revenue for the quarter rose about 14% to $13.59 billion, beating expectations of about $13.4 billion.<\/p>\n\n\n\n

Aishwarya Nair and Abhijith Ganapavaram<\/strong>,\u00a0Reuters News, April 28, 2022<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Caterpillar Inc on Thursday reported better-than-expected quarterly profit and revenue, powered by price hikes, while a surge in oil and commodity prices led to more orders for its equipment used in facilitating production and transport.<\/p>\n","protected":false},"author":2,"featured_media":3662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[127,2,495],"tags":[496,497,428],"class_list":["post-3661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brands","category-business","category-machinery","tag-caterpillar","tag-equipments","tag-profit"],"_links":{"self":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts\/3661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/comments?post=3661"}],"version-history":[{"count":1,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts\/3661\/revisions"}],"predecessor-version":[{"id":3663,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/posts\/3661\/revisions\/3663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/media\/3662"}],"wp:attachment":[{"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/media?parent=3661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/categories?post=3661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishexporter.com.tr\/inturkey\/wp-json\/wp\/v2\/tags?post=3661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}