Caterpillar's profit rose as higher prices offset the decline in demand

Last week, you might have seen that Caterpillar Inc. ( NYSE:CAT ) released its first-quarter result to the market. The...

Caterpillar has benefited from President Joe Biden's $1 trillion 2021 infrastructure law to upgrade roads, bridges and other transportation infrastructure. Although the boom from last year has eased it has remained relatively stable, helping Caterpillar hold on to the price increases it launched in the second half of 2023. That has helped the company offset the pressure on margins from an increase in manufacturing costs amid the lingering impact from supply chain constraints and higher steel prices.