Caterpillar profit falls as costs weigh
Credit: Caterpillar
Caterpillar Inc on Tuesday reported a drop in quarterly profit as increasing manufacturing costs related to materials and freight pressured the heavy machinery maker’s margins.
Fourth-quarter earnings per share slid by 29%. Adjusted profit for the quarter ended December rose to $3.86 per share from $2.69 a year earlier.
(By Aishwarya Nair; Editing by Maju Samuel)
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