A Caterpillar 777 autonomous mining truck is displayed during CES 2023, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. January 6, 2023. REUTERS/Steve Marcus/ File Photoreported a rise in third-quarter profit on Tuesday, as strong infrastructure investments across key markets boosted demand for its high-end construction equipment.
Caterpillar's profit has also benefited from effective cost controls and price hikes shielding margins amid ongoing inflationary pressures. Last quarter executives said solid demand for heavy machinery from construction and mining industries was expected to drive full-year operating margin toward the top end of its prior forecast.
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