Caterpillar Releases Second Quarter Financial Report

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DEERFIELD, Ill. (HOI) – Caterpillar says it is encouraged by the increase in sales and revenues in its second quarter financial report.

Sales and revenue reached $ 12.9 billion, up 29% from 2020, which stood at $ 10 billion.

Caterpillar says the increase is due to higher sales volume, driven by higher end-user demand for equipment and services, as well as the impact of changes in dealer inventory. They also note that dealers saw their inventories drop more in the second quarter of 2020 than in the second quarter of 2021.

Earnings per share were $ 2.56.

This represents an increase of 84 cents from 2020.

Adjusted earnings per share for 2021 was $ 2.60, down from $ 1.27 a year ago.

“Our dedicated global team remains focused on serving our customers, executing our strategy and investing for profitable future growth,” said Jim Umpleby, CEO of Caterpillar, in a statement. “We are encouraged by the increase in sales and revenues in all regions and in our three main segments, which reflects the continuous improvement of our end markets. “

In their second quarter financial report, WCB officials also noted a strong balance sheet, returning $ 0.8 billion to shareholders in the form of dividends and share buybacks.

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