Caterpillar profit falls as costs weigh

Caterpillar Inc on Tuesday reported a drop in quarterly profit as increasing manufacturing costs related to materials and freight pressured the heavy machinery maker’s margins.

Fourth-quarter earnings per share slid by 29%. Adjusted profit for the quarter ended December rose to $3.86 per share from $2.69 a year earlier.

(By Aishwarya Nair; Editing by Maju Samuel)