October 30, 2024
IRVING, Texas, October 30, 2024 – Caterpillar Inc. (NYSE: CAT) announced third-quarter 2024 results. Sales and revenues for the third quarter of 2024 were $16.1 billion, a 4% decrease compared with $16.8 billion in the third quarter of 2023. The decrease was primarily due to lower sales volume.
Operating profit margin was 19.5% for the third quarter of 2024, compared with 20.5% for the third quarter of 2023. Adjusted operating profit margin was 20.0% for the third quarter of 2024, compared with 20.8% for the third quarter of 2023. Third-quarter 2024 profit per share was $5.06, compared with third-quarter 2023 profit per share of $5.45. Adjusted profit per share in the third quarter of 2024 was $5.17, compared with third-quarter 2023 adjusted profit per share of $5.52. For the third quarter of 2024 and 2023, adjusted operating profit margin and adjusted profit per share excluded restructuring costs.
For the third quarter of 2024, enterprise operating cash flow was $3.6 billion, and the company ended the third quarter with $5.6 billion of enterprise cash. In the quarter, the company deployed $0.8 billion of cash for repurchases of Caterpillar common stock and $0.7 billion of cash for dividends.
“I'd like to thank our global team for delivering strong adjusted operating profit margin and adjusted profit per share while generating robust ME&T free cash flow,” said Chairman and CEO Jim Umpleby. “Our third-quarter results reflect the benefit of the diversity of our end markets.”
About Caterpillar
With 2023 sales and revenues of $67.1 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.
Caterpillar Media Contact: Tiffany Heikkila, +1 832-573-0958 or Tiffany.Heikkila@cat.com
Read corporate press releases and news announcements distributed by Caterpillar Inc.
Read NewsLearn more about Caterpillar as a company and the work we do to help our customers succeed, including our list of brands.
Explore CaterpillarKeep up with timely, comprehensive financial and investor information about Caterpillar.
Find Resources