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Caterpillar Earnings Top Estimates as Price Gains Offset Supply Costs

  • CFO says company sees strong demand, slower China construction
  • Supply chain snags remain ‘a challenge,’ according to CFO
Caterpillar 300-series excavator arms at a supply company yard in Lexington, Kentucky.

Caterpillar 300-series excavator arms at a supply company yard in Lexington, Kentucky.

Photographer: Luke Sharrett/Bloomberg

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Caterpillar Inc. raised prices to stay ahead of increasing raw-materials costs and worked with suppliers to alleviate bottlenecks, highlighting inflation and supply-chain pressures.

The producer of construction and mining equipment reported adjusted fourth-quarter earnings of $2.69 a share, compared with the $2.27 per share average of analysts’ estimates compiled by Bloomberg. Sales rose 23% to $13.8 billion.