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Caterpillar results top Wall Street estimates, but company warns of margin pressure

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Caterpillar said it expects to raise prices again this year, after hiking rates twice last year, to help mitigate some of the soaring costs

The company said it expects headwinds to its adjusted operating profit margin in the first quarter versus a year earlier, but sees improvement throughout the rest of the year.

Total revenue rose 23 per cent to $13.80-billion in the fourth quarter as construction demand across most of its regions saw an unprecedented level of public spending.The company reported a profit of $2.12-billion in the quarter ended Dec. 31, compared with $780-million a year earlier. On an adjusted basis, Caterpillar earned $2.69 per share, topping analysts estimates for $2.26 a share, according to Refinitiv I/B/E/S.

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