Caterpillar (CAT) known for its iconic yellow machines, is the largest global construction and mining equipment manufacturer. Caterpillar’s revenues and earnings has grown year over year for 10 straight quarters thanks to its cost-saving actions, strong end-market demand and pricing actions, which offset the impact of the supply-chain snarls and cost pressures. We expect the company’s adjusted earnings per share for 2023 to grow 37% and revenues are predicted to rise 11%. The Construction Industries segment is expected to benefit from the rising construction activities in the United States and other parts of the world. Backed by demand for commodities fueled by the energy-transition trend, a thriving mining sector will aid the Resource Industries segment. Its dividend yield and payout ratio are higher than its peers. A strong liquidity position, investments in expanding services and digital initiatives will help Caterpillar deliver outsized returns.
Carvana Co. (CVNA) is a leading e-commerce platform for buying and selling used cars. The acquisition of ADESA’s U.S. operations has solidified Carvana’s logistics network and auction capabilities. The cost-cut efforts of this used car e-retailer have been paying off. It has completed $1.1 billion of annualized SG&A expense reductions since second quarter of 2022. Encouragingly, this used car auto e-retailer expects GPU to exceed $5,500 in third-quarter 2023. Carvana’s recent debt restructuring deal also bodes well. Shares of this company have returned double digits over the past month. Over the last four quarters, Carvana surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.
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