Caterpillar Inc. (NYSE: CAT) plunges 1.34% in pre trading session on Tuesday as the firm releases fourth-quarter earnings slid by 29%, it reported on Tuesday, citing higher manufacturing costs and foreign currency effects that weighed on the industrial bellwether’s margins.

The results for 2022’s fourth quarter and full year were released by Caterpillar Inc. (NYSE: CAT). Sales and revenues for the fourth quarter of 2022 were $16.6 billion, up 20% over the fourth quarter of 2021’s $13.8 billion. In comparison to the fourth quarter of 2021, which had a profit per share of $3.91, the fourth quarter of 2022 saw a profit per share of $2.79.

Caterpillar Chairman and CEO, Jim Umpleby stated that one of the finest years in our almost 100-year history was produced by their international team, which also set a full-year adjusted profit per share record. Despite difficulties with the supply chain, the team created excellent ME&T free cash flow and double-digit top-line growth. They are still dedicated to providing for their clients, carrying out their plan, and making investments for sustainable, profitable growth.

In comparison to the fourth quarter of 2021, when adjusted profit per share was $2.69, the fourth quarter of 2022 saw adjusted earnings per share increase to $3.86. In contrast to a beneficial effect of $0.01 per share in the fourth quarter of 2021, the profit per share for the fourth quarter of 2022 contained an unfavorable ME&T foreign currency impact in other income (loss) of $0.41 per share that was primarily due to balance sheet translation.

Sales and revenues for the entire year in 2022 were $59.4 billion, an increase of 17% from $51.0 billion in 2021. The rise was a result of better price realization, higher sales volume, and changes in dealer inventory, as well as more services provided and equipment sold to end users. While maintaining almost constant in 2021, dealers raised their inventory by $2.4 billion in 2022. In comparison to the profit of $11.83 per share in 2021, the full-year profit in 2022 was $12.64 per share. In comparison to the adjusted profit per share of $10.81 in 2021, the adjusted profit per share in 2022 was $13.84.

The causes behind the shift in consolidated sales and revenues between the fourth quarters of 2021 and 2022 are graphically illustrated in the above chart. These internal charts are used by Caterpillar management to graphically communicate with the board of directors and staff of the firm.

Nikola Corporation (NASDAQ: NKLA) Highlights Its Integrated Hydrogen Solution

At a special event today, Nikola Corporation (NASDAQ: NKLA) revealed that it has developed a new worldwide brand, to include all of the energy products the firm uses to produce, distribute, and dispense hydrogen to power its zero-emissions vehicles. At Nikola’s U.S. headquarters in Phoenix, more than 300 fleet, government, supplier, energy, and media professionals were present for the announcement, which emphasized the development of Nikola’s truck and energy businesses.

Nikola CEO and President Michael Lohscheller stated that the hydrogen fuel cell vehicle and the whole supply chain for the hydrogen energy infrastructure are both effectively integrated under one roof by Nikola, the only business doing so. Their Nikola Tre fuel cell vehicle and adaptable mobile fuelling trailer were unveiled, showcasing a genuine and long-lasting competitive edge for their clients and serving as key indicators that they are succeeding in their goals.