Dealer Inventory ConcernsSome investors remain concerned that increases in dealer inventories could be a significant headwind into 2025.
Earnings Decline ForecastCaterpillar's operating income declined 2% in 2024, with current consensus factoring in another 18% decline in 2025.
Macroeconomic CautionThe economy is experiencing a slow rollover, and this will show in macro numbers, leading to some caution on CAT.