Caterpillar posted total sales and revenues of $14.249 billion in the first quarter of 2025, compared to $15,799 billion in the first quarter of 2024, a decrease of 9.8 percent. Caterpillar said the decrease was primarily because of lower sales volume and unfavorable price realization. Lower sales volume was mainly driven by the impact from changes in dealer inventories, which increased by $100 million during the first quarter of 2025, compared with an increase of $1.4 billion during the first quarter of 2024.
Caterpillar’s Construction Industries segment decreased 19 percent in revenue; Resources Industries dropped 10 percent; and Energy & Transportation declined 2 percent. Caterpillar’s Financial Products Segment rose 2 percent. Construction Industries declined 24 percent in North America; 15 percent in Latin America; EAME tumbled 13 percent; and Asia Pacific dipped 12 percent.
“Our strong balance sheet allowed us to deploy over $4 billion to shareholders through share repurchases and dividends during the quarter,” said chairman and CEO Jim Umpleby.
“Our strategy for long-term profitable growth is delivering results, which reflect the benefits of our diverse portfolio and end markets,” said incoming CEO Joe Creed. “I am honored to lead our talented team in building on Caterpillar’s legacy of helping customers solve their toughest challenges.”
