Caterpillar reported second-quarter results that exceeded analyst expectations, sending its stock up 5.2% in premarket trading. Adjusted earnings per share reached $8.17, beating the consensus estimate of $6.19, while revenue rose 24% to $20.5 billion, surpassing the $19.24 billion forecast. Chairman and CEO Joe Creed noted this was the first time the company generated over $20 billion in sales and revenues in a single quarter. Operating profit climbed 50% to $4.3 billion, and the adjusted operating profit margin expanded to 21.9% from 17.6% a year earlier. Construction Industries led growth with a 35% sales increase to $8.3 billion, driven by higher equipment sales in North America.
Caterpillar IncCaterpillar beat earnings and revenue estimates, with EPS of $8.17 vs $6.19 expected and revenue up 24% to $20.5B.