Caterpillar Says Euro, Yen, Aussie Hurt 3Q Sales -- Currency Comment
By Paulo Trevisani
Caterpillar Inc. said Thursday its third-quarter sales growth
included a negative currency impact related to the euro, the yen
and the Australian dollar.
The Irving, Texas equipment maker reported third-quarter total
sales and revenue of $15 billion, a 21% increase from a year
The company reported favorable FX impact in "other income."
It said other income grew to $242 million in the quarter, from
$225 million a year earlier, adding that the change "was primarily
driven by favorable impacts from foreign-currency exchange and
higher investment and interest income."
The U.S. dollar has strengthened 27% versus the yen this year,
14% versus the euro and 12% versus the Australian dollar. It is
widely expected to remain strong for as long as the U.S. Federal
Reserve keeps raising interest rates.
Write to Paulo Trevisani at email@example.com
(END) Dow Jones Newswires
October 27, 2022 11:50 ET (15:50 GMT)
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