Caterpillar Stock Plunges 9.3% Despite Strong Third-Quarter Results

After-the-fact Expert

Caterpillar shares plunged 9.3% even as the company reported adjusted earnings of $7.20 per share and sales and revenues of $20.7 billion. Sales and revenues increased 17%, while management highlighted strong order rates and a record backlog. The sharp reaction puts the market’s expectations for CAT in focus.  For informational and educational purposes only. Not financial advice.  #Caterpillar #CATStock #Earnings #StockMarket #Industrials

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00:00Caterpillar plunged 9.30% today. What happened? What happened was an earnings day sell-off.

00:08The company said in an SEC filing that third quarter sales and revenues rose 17% to $20.7

00:16billion, while adjusted profit per share reached $7.20. The shares fell after those results were

00:25released. The filing confirms the timing and the reported figures, but it does not identify

00:31which part of the report prompted investors to sell so sharply. Industrials rose 0.96% today,

00:40so this move ran against its own sector. A new post-market recap every trading day.

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