Caterpillar reported fourth-quarter and full-year 2024 financial results, showing a decline in revenue but an increase in profit per share. Fourth-quarter sales and revenues were $16.2 billion, a 5 percent decrease from the previous year, while full-year sales and revenues totaled $64.8 billion, down 3 percent. The decline was due to lower equipment sales volume, partially offset by favorable price realization.

Fourth-quarter profit per share increased to $5.78 from $5.28, while adjusted profit per share was $5.14, slightly lower than $5.23 in 2023. For the full year, profit per share rose to $22.05 from $20.12, with adjusted profit per share increasing to $21.90 from $21.21. Operating profit margin for the quarter was 18.0 percent, compared to 18.4 percent a year ago, and for the full year, it improved to 20.2 percent from 19.3 percent.

Caterpillar generated $12.0 billion in operating cash flow and ended the year with $6.9 billion in enterprise cash. The company spent $10.3 billion on share repurchases and dividends, including $7.7 billion for stock buybacks and $2.6 billion for dividends.

Segment-wise, Construction Industries revenue declined by 8 percent in the quarter due to lower sales volume and pricing. Resource Industries revenue dropped 9 percent, mainly due to dealer inventory reductions. Energy & Transportation revenue was flat, with growth in power generation offset by declines in oil and gas sales. Financial Products revenue increased by 4 percent, though profit in this segment fell by 29 percent due to lower margins and higher credit losses.

CEO Jim Umpleby highlighted the company's strong performance, noting record adjusted profit per share and solid cash flow despite lower revenue. As Caterpillar enters its centennial year, management remains focused on customer service, strategic investments, and long-term profitability.