Caterpillar Inc

CAT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$147.00	Cwpdl	Rvvnbyldz

Caterpillar Earnings: Our Long-Term Thesis Remains Unchanged Amid Declining Orders

Dawit Woldemariam

Oct 31, 2023

The market sent Caterpillar’s shares down approximately 6% in intraday trading on Oct. 31, following third-quarter earnings. The key headline coming out of earnings was the company’s declining order backlog. Caterpillar reported orders decreased $2.6 billion in the third quarter versus last quarter.

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