Huge demand at Caterpillar, but global supply constrains

Caterpillar’s sales surged in the final quarter of the year despite ongoing disruptions in the global supply chain that have hit almost every sector of the economy

Caterpillar's sales surged in the final quarter of the year despite ongoing disruptions in the global supply chain that have hit almost every sector of the economy.

Executives said Friday that demand for construction equipment remains elevated, but supply issues and cooling construction in China depressed the company's stock.

Sales climbed 23% to $13.8 billion topping Wall Street expectations for $13.36 billion, according to a survey of industry analysts by Zacks Investment Research forecast.

Construction industry sales rose 27%, driven by an improvement in dealer inventories, higher end-user demand and increased prices.