Caterpillar Reports Negative 1Q Impact from Euro, Yuan, Yen, Aussie -- Currency Comment
By Paulo Trevisani
Caterpillar Inc. said Thursday that unfavorable currency impacts
related to the euro, yen, yuan and Australian dollar were a
negative factor in the first quarter.
The company reported a 17% annual increase in first-quarter
total sales and revenues, to $15.9 billion, and said the rise was
"partially offset by unfavorable currency impacts primarily related
to the euro, Japanese yen and Australian dollar."
Currency had a reported $258 million negative impact on
consolidated sales and revenue.
The company reported other income of $32 million, down from $253
million a year earlier, primarily driven by unfavorable FX, among
In the construction industries segment, Caterpillar reported a
10% increase in total sales to $6.7 billion, including a $151
million negative FX impact primarily related to the yen, euro and
In the 12 months through March 31, the dollar strengthened 11.9%
versus the Australian dollar, 8.2% versus the yuan and 9.1% versus
the yen, while weakening 2.1% versus the euro, according to Tullett
Write to Paulo Trevisani at email@example.com
(END) Dow Jones Newswires
April 27, 2023 12:31 ET (16:31 GMT)
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