Strong customer demand propelled Caterpillar to higher profits even as supply chain problems crimped sales somewhat.NEW YORK - Broad-based industrial growth propelled Caterpillar to higher third-quarter profits, according to results, but executives said supply chain problems prevented even better earnings.
"We are having some challenges" in meeting demand due to supply chain problems, but it is"very difficult to quantify" the exact amount, Umpleby said during a conference call with analysts. "The good news is what is driving much of this is customer demand," he said, adding that the company had raised prices due to higher costs for freight.
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