Summary
Caterpillar Inc. reported total sales and revenues of $64.809 billion for the full year 2024, a decrease of 3% from 2023, primarily driven by lower sales volume across its Construction Industries and Resource Industries segments, partially offset by favorable price realization and growth in Energy & Transportation. Despite the revenue decline, operating profit margin improved to 20.2% in 2024 from 19.3% in 2023, reflecting effective price realization and manufacturing cost efficiencies. Profit per share increased to $22.05 from $20.12 in the prior year. The company maintained a strong financial position, with enterprise operating cash flow of $12.0 billion and ended the year with $6.9 billion in enterprise cash. Looking ahead to 2025, Caterpillar anticipates slightly lower sales and revenues, primarily due to anticipated unfavorable price realization and lower sales volume, though services revenue is expected to grow across all segments.
Financial Highlights
55 data points| Revenue | $64.81B |
| Cost of Revenue | $40.20B |
| Gross Profit | $24.61B |
| R&D Expenses | $2.11B |
| SG&A Expenses | $6.67B |
| Operating Expenses | $51.74B |
| Operating Income | $13.07B |
| Net Income | $10.79B |
| EPS (Basic) | $22.17 |
| EPS (Diluted) | $22.05 |
| Shares Outstanding (Basic) | 486.70M |
| Shares Outstanding (Diluted) | 489.40M |
Key Highlights
- 1Total sales and revenues for 2024 were $64.809 billion, a 3% decrease from $67.060 billion in 2023.
- 2Operating profit margin improved to 20.2% in 2024 from 19.3% in 2023.
- 3Profit per share increased to $22.05 in 2024, up from $20.12 in 2023.
- 4Enterprise operating cash flow was $12.0 billion in 2024.
- 5Order backlog increased to $30.0 billion at the end of 2024 from $27.5 billion at the end of 2023.
- 6The company repurchased $7.7 billion of common stock in 2024, with $20.1 billion remaining authorization.
- 7The company anticipates slightly lower sales and revenues in 2025 compared to 2024, driven by expected unfavorable price realization and lower sales volume, though services revenue is projected to grow.