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Share Name Share Symbol Market Type
Caterpillar Inc NYSE:CAT NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -2.46 -1.12% 217.00 219.39 216.70 219.01 4,120,983 21:46:02

Caterpillar 1Q Revenue, Profit Growth Driven by Higher Demand

29/04/2021 12:17pm

Dow Jones News


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By Matt Grossman

 

Caterpillar Inc. on Thursday posted profit and revenue growth in the latest quarter as higher demand from construction and industrial equipment users boosted the company's results.

The Deerfield, Ill.-based heavy-equipment maker logged a first-quarter profit of $2.77 a share, compared with $1.98 a share a year earlier. The company's total profit was $1.53 billion, an improvement from $1.09 billion.

On an adjusted basis, Caterpillar's profit was $2.87 a share. Analysts surveyed by FactSet had forecast adjusted earnings of $1.94 a share.

Revenue was $11.89 billion, up from $10.64 billion a year earlier, the company said. Analysts were expecting $10.95 billion.

Construction sales climbed 27% to $5.46 billion as higher end-user demand drove better volumes. Resource-industries sales grew by 6% to $2.22 billion, boosted by greater demand from the mining industry, the company said.

Improved demand from the power-generation and oil-and-gas industries helped energy-and-transportation sales grow by 4% to $4.51 billion, it said.

Caterpillar's operating profit margin improved to 15.3%, from 13.2% a year earlier, the company said.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

April 29, 2021 07:02 ET (11:02 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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