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American construction giant Caterpillar Inc. (CAT) missed fourth quarter revenue expectations despite beating EPS (earnings per share) projections, driven by stronger-than-expected construction demand.
However, the company is forecasting lower sales in 2025, citing softening global demand.
A key concern is the impact of slowing growth in the Asia-Pacific region, especially China, on the company’s outlook. Full-year sales dropped by 3% annually, largely due to lower equipment sales.
Watch the video above to hear Morning Brief hosts Brad Smith and Seana Smith break down the latest news on Caterpillar’s financial results and future outlook.
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This post was written by Josh Lynch