Caterpillar reported a lower first-quarter profit Wednesday, hurt by softer demand due to economic uncertainty.

Shares of the company, which is a bellwether for the global economy, fell about 6% in premarket trading.

The industrial giant had benefited from former President Joe Biden's 2021 infrastructure law, a $1 trillion spending package that boosted demand for construction equipment.

However, that momentum has started to slow as project starts ease and private sector investment shows some hesitancy amid higher interest rates.

Before accounting for the tariffs, revenue should be "about flat compared to 2024." As for Caterpillar's results with the tariffs, "before any additional mitigation actions, and with negative economic growth in the second half of 2025," revenue should be in line with its previous forecast of a minimal drop.

Adjusted profit per share fell to $4.25, compared with $5.60, a year ago.