Caterpillar reports profit jump but warns of supply chain headwinds

Published by
AFP

New York (AFP) – Caterpillar reported a jump in fourth-quarter earnings Friday on surging demand for industrial equipment, but warned that supply chain problems will probably continue to weigh on results in 2022. The company, which manufactures and sells equipment to heavy industries such as construction and mining, saw higher sales across its businesses amid broad-based demand growth. But Chief Executive Jim Umpleby said on a conference call with analysts that the company’s revenues would have been even higher had it not faced supply chain problems that pinched production. Umpleby said the co…

Read More