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Caterpillar, the construction equipment company, reported a jump in profit due to strong demand and higher prices in the third quarter. However, the company's Q4 guidance was below expectations. Despite beating earnings estimates, Caterpillar's stock fell as concerns about equipment demand and profit margins weighed on investor sentiment.
How were $CAT earnings? Despite beating earnings estimates, Caterpillar stock fell after its order backlog decreased and the company warned that profit margins could come down.
$IQV Iqvia beats on eps, misses on rev. Guidance light. -5.6% pre market https://t.co/GSqICBbtLH
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$CAT Caterpillar beats. Q4 guidance light. -5% pre market https://t.co/j03P7ls836