Caterpillar (NYSE: CAT ) shares dropped more than 4% Thursday despite beating analyst consensus expectations. The construction equipment manufacturer reported Q1 EPS of $4.91, $1.11 better than the analyst estimate of $3.80, while revenue for the quarter grew by $116 million or 18%, coming in at $15.9 billion versus the consensus estimate of $15.1 billion. However, there are some demand concerns, with Reuters stating that analysts are worried about the company's order backlog. Caterpillar reported that its Construction Industries segment total sales were $6.746 billion, rising 10%, compared with $6.115 billion in the first quarter of 2022.