Caterpillar's Stock Hits Record High on Strong Profit Performance.

Caterpillar Inc.'s stock reached a new record on Monday, driven by strong fourth-quarter profit results.

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The company, known for construction and mining equipment, exceeded forecasts, especially in the energy and transportation sector.

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Caterpillar reported its highest annual sales in its 98-year history, attributed to increased volume and higher prices.

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In premarket trading, the stock surged 4.1%, contributing about 85 points to the Dow Jones Industrial Average.

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Net income for the quarter ending December 31 rose to $2.68 billion, or $5.28 per share, compared to $1.45 billion a year ago.

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Adjusted earnings per share of $5.23 surpassed the FactSet consensus of $4.76, marking the fourth consecutive quarter of double-digit percentage beats.

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Quarterly revenue increased 2.8% to $17.07 billion, slightly above the FactSet consensus of $17.06 billion.

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Construction industries sales dropped 5% to $6.85 billion, slightly below expectations, while resource industries sales declined 6% to $3.44 billion.

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Energy and transportation sales outperformed, rising 12% to $6.82 billion, beating forecasts, driven by strength in oil and gas, power generation, and transportation businesses.

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Caterpillar's stock has surged by 30.9% in the past three months, outpacing the Dow's 13.5% advance.

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