Sales and revenues for the fourth quarter of 2022 were US$16.6bn, a 20% increase compared with US$13.8bn in the fourth quarter of 2021. Fourth-quarter 2022 profit/share was US$2.79, compared with US$3.91 profit/share in the fourth quarter of 2021. Adjusted profit/share in the fourth quarter of 2022 was US$3.86, compared with the fourth quarter 2021 adjusted profit/share of US$2.69.
Profit/share in the fourth quarter of 2022 included an unfavorable ME&T foreign currency impact in other income (expense) of US$0.41/share mostly related to balance sheet translation, compared with a favourable impact of US$0.01/share in the fourth quarter of 2021.
Full-year sales and revenues in 2022 were US$59.4bn, up 17% compared with US$51.0bn in 2021. The increase reflected favorable price realisation and higher sales volume, driven by the impact from changes in dealer inventories, increased services and higher sales of equipment to end users. Dealers increased their inventories US$2.4bn in 2022, while remaining about flat in 2021. Full-year profit was US$12.64 per share in 2022, compared with profit of US$11.83/share in 2021.
Adjusted profit/share in 2022 was US$13.84, compared with adjusted profit/share of US$10.81 in 2021.
The firm saw a strong operating cash flow of US$7.8bn and ended the year with US$7bn of enterprise cash.
Caterpillar has seen strong performance for 2022
