Caterpillar Full-Year Report 2023

“I’m very proud of our global team’s strong performance as they achieved the best year in our 98-year history, including record full-year sales and revenues, record adjusted profit per share and record ME&T free cash flow,” said Caterpillar Chairman and CEO Jim Umpleby.

Full-year sales and revenues in 2023 were $67.1 billion, up 13% compared with $59.4 billion in 2022. The increase reflected favorable price realization and higher sales volume, driven by higher sales of equipment to end users, partially offset by the impact from changes in dealer inventories.

Highlights

• Fourth-quarter 2023 sales and revenues up 3%; full-year sales and revenues up 13%
• Fourth-quarter 2023 profit per share of $5.28; adjusted profit per share of $5.23
• Full-year profit per share of $20.12; adjusted profit per share of $21.21
• Strong operating cash flow of $12.9 billion; ended the year with $7.0 billion of enterprise cash
• Returned $7.5 billion to shareholders through share repurchases and dividends in 2023