NYSE:CATMachinery
Caterpillar (CAT) Stock Rallies On Record Cash Flow And Backlog
Caterpillar stock came into this print looking stretched after a soft 30 day return that was down about 9%. Today the market ripped that script up. The shares jumped 5.6% to about US$876 as investors absorbed a quarter built on heavy machinery fundamentals rather than hype.
The headline is simple. Caterpillar delivered its first quarter above US$20b in revenue and a sharp step up in earnings per share. Record free cash flow from Machinery, Energy and Transportation and a swelling US$72b...