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 earlier.

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 paulo.trevisani@wsj.com

 

(END) Dow Jones Newswires

October 27, 2022 11:50 ET (15:50 GMT)

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