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Caterpillar's shares drag on Dow as cost increases set to hurt profits

Caterpillar's shares drag on Dow as cost increases set to hurt profits
marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.

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Caterpillar Sees Profit Jump, Warns Of Supply Chain Stress

Caterpillar Sees Profit Jump, Warns Of Supply Chain Stress
04/29/21 AT 11:05 AM
Caterpillar reported strong profits Thursday but highlighted potential supply chain problems as a risk and said there were still too many uncertainties to provide a full-year profit forecast.
The industrial giant scored better-than-expected results in the first quarter, highlighting strong construction industry demand, especially in China.
Executives also said they were bullish on the resources segment due to greater need for metals for electric cars and other items seeing increased demand. Caterpillar manufactures machinery for the construction, resource and energy industries.
There are positive signs in a number of our end markets, said Chief Executive Jim Umpleby, who added that the company is monitoring the ongoing shortage of semiconductors, as well as raw materials. ....

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