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5d ago

Caterpillar Reports Q1 Revenue Decline and Prepares for CEO Transition

The company missed revenue estimates, issued dual 2025 outlooks influenced by tariffs, and announced COO Joe Creed as its new CEO starting May 1.

FILE - The logo for Caterpillar appears above a trading post on the floor of the New York Stock Exchange, April 23, 2018. (AP Photo/Richard Drew, File)
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Caterpillar so far is not considering major changes to its supply chain to offset the hit from tariffs

Overview

  • Caterpillar's Q1 2025 revenue fell 10% year-over-year to $14.25 billion, missing analysts' expectations of $14.65 billion.
  • Segment revenues dropped sharply, including a 19% decline in Construction Industries and 10% in Resource Industries.
  • The company issued two full-year 2025 forecasts: flat revenue without tariffs or a slight decline if tariffs persist.
  • Tariffs are expected to increase Q2 costs by $250 million to $350 million, further pressuring profitability.
  • Joe Creed will replace Jim Umpleby as CEO on May 1, with Umpleby transitioning to executive chairman after eight years as CEO.