Wed Apr 30 11:40:00 UTC 2025: ## Caterpillar Reports Lower-Than-Expected First-Quarter 2025 Earnings
**IRVING, Texas (May 1, 2025)** – Construction equipment giant Caterpillar Inc. (NYSE: CAT) announced today a decline in first-quarter 2025 earnings, citing lower sales volume and unfavorable pricing. Sales and revenues reached $14.2 billion, a 10% decrease compared to $15.8 billion in the same period last year. This drop is attributed to a $1.1 billion decrease in sales volume, largely due to changes in dealer inventories, and a $250 million impact from unfavorable price realization.
Operating profit margin also experienced a significant downturn, falling from 22.3% in Q1 2024 to 18.1% in Q1 2025 (18.3% adjusted). Earnings per share decreased from $5.75 to $4.20 ($4.25 adjusted). Despite the decline, Caterpillar reported strong operating cash flow of $1.3 billion and ended the quarter with $3.6 billion in enterprise cash. The company deployed over $4 billion to shareholders through stock repurchases and dividends.
Chairman and CEO Jim Umpleby expressed pride in the company’s performance and highlighted the support provided to customers. Incoming CEO Joe Creed emphasized the strength of Caterpillar’s diverse portfolio and end markets, stating that the company’s long-term growth strategy is delivering results.
While the results fell short of expectations, Caterpillar remains committed to its mission of providing construction and mining equipment, engines, and other industrial products globally. The company reaffirmed its dedication to a sustainable future and its support for customers worldwide. Further details are available in the full first-quarter 2025 results release on the Caterpillar website.
First Piper 