By Paulo Trevisani
Caterpillar Inc. said Thursday its third-quarter sales growth included a negative currency impact related to the euro, the yen and the Australian dollar.
The Irving, Texas equipment maker reported third-quarter total sales and revenue of $15 billion, a 21% increase from a year earlier.
The company reported favorable FX impact in "other income."
It said other income grew to $242 million in the quarter, from $225 million a year earlier, adding that the change "was primarily driven by favorable impacts from foreign-currency exchange and higher investment and interest income."
The U.S. dollar has strengthened 27% versus the yen this year, 14% versus the euro and 12% versus the Australian dollar. It is widely expected to remain strong for as long as the U.S. Federal Reserve keeps raising interest rates.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
10-27-22 1150ET