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Caterpillar sees Q1 sales, revenues ‘lower’ than 1Q24

Q1 revenue consensus $16.65B. Expects 1Q 2025 sales and revenues to account for a lower percentage of full-year sales and revenues than is typical by about 100 basis points. Expects to build less dealer inventory of machines during 1Q 2025 than the $1.1B build in 1Q 2024. Anticipates lower adjusted operating profit margin in 1Q 2025 compared to 1Q 2024

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