Caterpillar Misses Q1 Forecasts Amid Tariff Concerns

Published 3 hours agoCAT

Caterpillar Misses Q1 Forecasts Amid Tariff Concerns

Caterpillar Inc. recently announced its first-quarter financial results, revealing a decline in revenue to $14.25 billion, which fell short of analyst expectations of $14.54 billion and a decrease from $15.8 billion during the same period last year. The company's adjusted earnings per share also came in slightly under predictions, at $4.25 compared to the anticipated $4.30, as reported by AP News.

The construction and equipment manufacturing giant is also bracing for potential impacts from tariffs, warning these could raise second-quarter costs by as much as $350 million, further straining its financial standing. Despite these challenges, Caterpillar's order backlog has expanded significantly, reaching approximately $23 billion, marking a 62.6% increase year-over-year, according to Seeking Alpha.

Amid these financial fluctuations and tariff-related pressures, Caterpillar is undergoing a leadership transition. Current CEO D. James Umpleby III will take on the role of executive chairman on May 1, while COO Joseph Creed will assume the CEO position and join the board. These changes come as the company contends with higher material costs and lingering supply chain issues, which continue to test its operational strategies.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Etsy Boosts Revenue Amid Market Challenges

Etsy Boosts Revenue Amid Market Challenges

13 minutes agoETSY

Etsy reported a slight boost in its quarterly revenue, posting a 1% increase to $651.2 million, which surpassed analysts' forecasts of $642.7 million. This gain was primarily supported by consistent consumer interest in gifts, handmade items, and clothing, particularly via its resale platform, Depop, according to Reuters. However, Etsy's financial health was hit by a significant impairment charge of $101.7 million linked to the pending sale of its musical instrument marketplace, Reverb, resulting in a net loss of $52.1 million for the quarter. This stands in contrast to the $63 million profit reported in the same timeframe last year. Additionally, a reduction in gross merchandise sales was seen, falling to $2.79 billion from $2.99 billion the previous year. Despite the hurdles presented by global tariff worries, such as those potentially affecting European Union products, Etsy's stock still experienced a near 1% rise in premarket trading following their earnings disclosure. The company's focus on locally sourced and European goods has helped it navigate some of these tensions, though further tariffs could pose challenges moving forward.

Lucid Group Stock Drops Amid Offering and Projected Loss

Lucid Group Stock Drops Amid Offering and Projected Loss

28 minutes agoLCID

Lucid Group's stock has taken a hit, with shares trading at $2.455 as of April 30, 2025. This marks a decline of $0.105 or about 4.1% from the prior close, according to Yahoo Finance. The recent drop follows Lucid's announcement of a public offering involving 262.5 million additional shares, through which the company aims to raise approximately $1.67 billion. Alongside this, Lucid also cautioned about a wider-than-expected loss forecast for the third quarter, adding to investor concerns. These developments have stirred reactions in the market, as the prospect of share dilution and financial losses weigh on investor sentiment. Lucid's strategic moves highlight its needs for increased capital and pose challenges as the company navigates its financial landscape.

Booking Holdings Surpasses Q1 2025 Expectations Amid Economic Unease

Booking Holdings Surpasses Q1 2025 Expectations Amid Economic Unease

43 minutes agoBKNG

Booking Holdings reported a strong start to 2025, with first-quarter results exceeding analyst predictions. The company posted an adjusted profit of $24.81 per share, significantly above the anticipated $17.33. Quarterly revenue reached $4.76 billion, higher than the forecast of $4.59 billion. Additionally, gross bookings climbed 7% from the previous year to $46.7 billion, and room nights booked also saw a 7% increase, totaling 319 million. The performance was buoyed by a robust demand for international travel, especially in Southeast Asia. Affluent Chinese travelers contributed to a rise in lodging and travel service prices in that region. Meanwhile, the U.S. market displayed some weakness, attributed to fears of recession sparked by President Donald Trump’s tariff policies, as highlighted by Reuters. CEO Glenn Fogel acknowledged the broader economic challenges and geopolitical uncertainties impacting the market. Despite these concerns, he emphasized the company's commitment to maintaining its focus on long-term growth strategies, navigating through the short-term economic fluctuations.

TotalEnergies Celebrates 100-Year Anniversary with Employee Share Gift

TotalEnergies Celebrates 100-Year Anniversary with Employee Share Gift

58 minutes agoTTE

TotalEnergies has taken a significant step towards fostering employee ownership by launching an employee share purchase plan aligned with its 100-year anniversary. The company announced that as part of a Universal Share Grant, each of the company's 100,000 employees worldwide will receive 100 TotalEnergies shares. The distribution, which marks the largest universal grant in the company’s history, was approved by the Board of Directors and is set to take place on April 25, 2024. Employees on record as of March 28, 2024, will have these shares, which will be definitively acquired after five years. Additionally, TotalEnergies is pushing forward with a capital increase reserved specifically for employees and former employees. Shares are offered at a discounted subscription price of €46.90, reflecting a 30% reduction compared to the recent average closing price of the company’s shares on Euronext. Reuters reported that this is complemented by the ongoing annual performance share allocation plan, whereby employees receive shares based on their performance metrics. TotalEnergies has positioned itself as a leader in employee shareholding within Europe. By the end of 2023, more than 65% of its employees were shareholders, collectively holding an impressive €11 billion of the company's total €149 billion share capital. This collaboration has resulted in employees owning 7.4% of the capital and collectively earning €525 million in dividends for 2023. The company's strategy indicates a focused commitment to aligning the interests of its workforce with its broader performance goals.