Caterpillar misses profit estimates as costs weigh

Caterpillar misses profit estimates as costs weigh

(Reuters) -Caterpillar Inc on Tuesday reported a lower-than-expected quarterly profit as increasing manufacturing and freight costs pressured the heavy machinery makers margins.

Shares of Caterpillar were down 3.3% before the bell.

Despite higher orders, the industrial bellwether is grappling with supply constraints, boosting costs and clipping its ability to ship units and replenish dealer inventories.

Caterpillars sales and revenue for the quarter through December rose 20% to $16.6 billion.

Adjusted profit for the quarter rose to $3.86 per share, missing analysts estimate of $4.02, according to Refinitiv IBES data.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Maju Samuel)

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