Caterpillar expects ‘sustained supply chain improvements’

Says supply chain has improved, but some challenges remain. Expects lead times, backlog to come down to “more normal levels.” Feels “quite good” about market conditions heading into 2024. Expects to benefit more from infrastructure investment in 2024. Expects prices to moderate in 2024. Sees rental industry as a “growth opportunity.” Expects end demand to “remain strong” in Q4.