Caterpillar Downplays Tariff Risks, Prefers Price Rises — Panjiva


Caterpillar Downplays Tariff Risks, Prefers Price Rises

China 1758 Industrials - Capital Goods 265 Tariffs 1169 U.S. 3297

Heavy equipment manufacturer Caterpillar reported a 41.4% rise in operating profits despite a $205 million drag from higher production costs including tariffs. CFO Andrew Bonfield indicated that around $50 million of costs had not been covered by increased pricing during the quarter, and that the full year impact would be at the lower end of the $100 million to $200 million range. Caterpillar’s imports from China, where most of the non-steel / aluminum duties are focused, fell by 8.8% in the three months to September 30 vs. a year earlier. CEO James Umpleby indicated that there company i...

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