Caterpillar Inc.

Caterpillar Earnings Beat Helped by Data Center Power Demand

Caterpillar Inc. reported better-than-expected earnings in Q4 2022, driven by strong demand for its power generation equipment from AI data centers. The company's power and energy segment saw a 25% profit jump compared to the previous year. Caterpillar also benefited from a record order backlog of $51 billion. However, the company continues to face unfavorable manufacturing costs due to higher tariffs.