Markets
Caterpillar's Backlog Hit a Record $78 Billion, Up 96 Per Cent in a Year. Its Dealers Plan to Cut $1.6 Billion of Inventory This Quarter.
Caterpillar's sales rose 17 per cent to $20.7 billion in the third quarter and adjusted profit was $7.20 a share, the company said on Thursday. Its order backlog reached a record $78 billion, up about $38 billion from a year earlier. It expects construction equipment volume to fall modestly in the fourth quarter as dealers shrink their stocks.

