Caterpillar (CAT) shares fell s🐓harply in intraday trading Thursday as lower-than-expected sales offset a strong♋er profit than analysts estimated.

The construction vehicle and engine manufacturer reported $15.8 billion in total revenue, short of analyst estimates compiled by Visible Alpha of $16.16 billion, but posted a profit of $2.86 billion, or $5.75 per share, topping estimates of $2.53 billion, or $5.02 per share.

Revenue across Caterpillar's equipment divisions was down $139 million compared with the first quarter of 2023. The company's sales especially suffered internationally, with construction equipment sales falling in Europe, Africa, and the Middle East (EAME) by 25% year-over-year, and 14% in the Asia/Pacific region.

The energy and transp♛🌱ortation division was a bright spot, with revenue increasing 7% from last year thanks to higher demand.

For the current quarter, Caterpillar projects sales to decrease year-over-year, but adjusted operating margins should stay relatively the same thanks to higher prices. For the full fiscal year, the company said sales will likely be similar to the levels it saw in 2023, with no significant changes in machine dealer inventory.

Shares sank 7.4🃏% to $336.53 as of about 10:45 a.m. ET Thursday.