By Paulo Trevisani
Caterpillar Inc. said Thursday that unfavorable currency impacts related to the euro, yen, yuan and Australian dollar were a negative factor in the first quarter.
The company reported a 17% annual increase in first-quarter total sales and revenues, to $15.9 billion, and said the rise was "partially offset by unfavorable currency impacts primarily related to the euro, Japanese yen and Australian dollar."
Currency had a reported $258 million negative impact on consolidated sales and revenue.
The company reported other income of $32 million, down from $253 million a year earlier, primarily driven by unfavorable FX, among other factors.
In the construction industries segment, Caterpillar reported a 10% increase in total sales to $6.7 billion, including a $151 million negative FX impact primarily related to the yen, euro and the yuan.
In the 12 months through March 31, the dollar strengthened 11.9% versus the Australian dollar, 8.2% versus the yuan and 9.1% versus the yen, while weakening 2.1% versus the euro, according to Tullett Prebon.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
04-27-23 1231ET