Caterpillar Stocks Decline 4.45% as $78.1 Billion Backlog Meets Capacity Constraints

What happened: Caterpillar (NYSE:CAT) fell about 4.45% in November 4 premarket trading to $596.20 after its October 29 earnings release, as a record backlog met capacity constraints. Key numbers: Q3 revenue $20.7 billion; adjusted EPS $7.20; backlog $78.1 billion, up $6 billion from $72.1 billion (about 8.3%); backlog equals about 3.8 times Why it matters: Management kept its sales-growth forecast, but expanding production takes time and orders only become revenue when deliveries follow. The article says a bigger order book alone may struggle to reverse the reassessment in the stock. Market: -6.9% today ($586.31), -1.6% YTD, 1.2x vol — as of 20:03 UTC

Caterpillar (NYSE:CAT) fell about 4.45% in November 4 premarket trading to $596.20 after its October 29 earnings release, as a record backlog met capacity constraints.

Management kept its sales-growth forecast, but expanding production takes time and orders only become revenue when deliveries follow. The article says a bigger order book alone may struggle to reverse the reassessment in the stock. Market: -6.9% today ($586.31), -1.6% YTD, 1.2x vol — as of 20:03 UTC