Caterpillar To See Margin Gains As Inventory Levels Normalize: Goldman Sachs
Caterpillar To See Margin Gains As Inventory Levels Normalize: Goldman Sachs
Caterpillar, Inc. (NYSE:CAT) shares are trading higher today after the company reported second-quarter FY24 results. Goldman Sachs analyst Jerry Revich maintained a Buy rating with a price target of $408.
高盛分析師傑瑞•雷維奇維持了對卡特彼勒公司（NYSE: CAT）買入評級並將其目標價上調至408美元，使得其股價今天上漲。
Total sales and revenue for the quarter declined 4% year-over-year to $16.69 billion, beating the consensus of $16.68 billion.
本季度總銷售額爲166.9億美元，營業收入同比下降了4%，超過共識的166.8億美元。
Caterpillar's adjusted earnings were $5.99 per share, compared to $5.55 a year ago and above the consensus of $5.54.
卡特彼勒調整後的每股收益爲5.99美元，較去年同期的5.55美元高，並超過預期的5.54美元。
Caterpillar anticipates 2024 sales and revenues to be slightly lower than 2023 (prior view: sales and revenues to be broadly similar), with the year-over-year decline in the second half being roughly similar to the first half.
卡特彼勒預計2024年的銷售收入將略低於2023年（先前預計爲銷售收入基本相同），下半年的同比下降幅度與上半年大致相當。
The analyst anticipates the stock will rise following the results and says that the second quarter performance showed a margin beat driven by price increases, lower manufacturing costs, and solid progress in reducing dealer inventory.
該分析師預計，該公司的股價將在業績公佈後上漲，並表示第二季度的表現顯示其毛利率超額增長，其價格上漲、製造成本降低以及減少經銷商存貨的進展表現良好。
According to the analyst, CAT destocked directionally in line with estimates in the quarter while beating on a sustained price/cost spread.
該分析師表示，在本季度，卡特彼勒的去庫存方向與估計值大致相符，並在持續的價格/成本差方面表現出色。
Following Komatsu's mining and Volvo's construction equipment updates, Revich noted expectations for orders were lowered going into the quarter.
在小松(adr)和沃爾沃的施工設備更新之後，雷維奇指出，市場對訂單的預期在本季度有所下降。
The analyst estimates revenue of $64.66 billion in FY24, $69.69 billion in FY25 and $73.68 billion in FY26.
該分析師預計，卡特彼勒在2024年的營業收入爲646.6億美元，在2025年的營業收入爲696.9億美元，在2026年的營業收入爲736.8億美元。
Investors can gain exposure to the stock via Global X Funds Global X Dow 30 Covered Call ETF (NYSE:DJIA) and Global X Funds Global X Dow 30 Covered Call & Growth ETF (NYSE:DYLG).
投資者可以通過Global X Funds Global X Dow 30 Covered Call ETF（紐交所：DJIA）和Global X Funds Global X Dow 30 Covered Call & Growth ETF（紐交所：DYLG）獲得對該公司股票的投資。
Price Action: CAT shares are up 3.69% at $328.49 at the last check Tuesday.
截至本週二的最後一次查詢，卡特彼勒股價爲328.49美元，上漲3.69%。
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