Caterpillar’s adjusted profit for the quarter rose to $3.86 per share, missing analysts’ estimate of $4.02, according to Refinitiv IBES data
on Tuesday reported a lower-than-expected quarterly profit as increasing manufacturing and freight costs pressured the heavy machinery maker’s margins.
Despite higher orders, the industrial bellwether is grappling with supply constraints, boosting costs and clipping its ability to ship units and replenish dealer inventories.Adjusted profit for the quarter rose to $3.86 per share, missing analysts’ estimate of $4.02, according to Refinitiv IBES data.
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