Caterpillar announced earnings this morning and demolished Q3 expectations. It also released an earnings video that was mostly a greatest-hits montage of their most impressive machines, so you may be surprised to learn that there was also some stuff in it about the tractor business!
Not only is it going well, but the company expects it to continue as such for a very long time. Here’s why:
CAT thinks it has great positioning for mid-to-long term growth around the world as the growing middle class (and growing median income in this middle class) leads to more infrastructure investment globally.
It also see global energy demand as a good indicator for growing tractor demand.
But let’s stop pretending that you wanted to see charts on global energy demand. Here’s another tractor from the video: