Caterpillar Profit Hit by Higher Costs That Offset Revenue Growth

Core Insights - Caterpillar's third-quarter net income decreased due to higher costs, despite strong revenue growth and demand for heavy machinery [1] Financial Performance - The company experienced robust growth in revenue, indicating strong demand for its products [1] - Higher costs negatively impacted net income, suggesting challenges in managing expenses [1] Market Demand - There is a notable demand for Caterpillar's heavy machinery, reflecting positive market conditions [1]