Caterpillar Inc. CAT has been delivering growth in its top and bottom lines for eight straight quarters despite inflationary pressures and supply-chain snarls that have been plaguing the industry at large. The outperformance was aided by improving demand in CAT’s end markets and cost-control efforts. Solid Q4 Results & Robust Backlog Levels: Caterpillar’s adjusted earnings per share were $3.86 in fourth-quarter 2022, which marked a 43.5% year-over-year improvement.