Caterpillar posts second-quarter earnings of $1.67 billion.
DEERFIELD, Ill. (AP) — Caterpillar had a strong second quarter and topped most profit expectations, though margins slipped. The manufacturer…
DEERFIELD, Ill. (AP) — Caterpillar had a strong second quarter and topped most profit expectations, though margins slipped.
The manufacturer on Tuesday posted a quarterly profit of $1.67 billion, or $3.13. Per share earnings were $3.18 without one-time costs or benefits, which is 18 cents better than Wall Street had expected, according to a survey of industry analysts by Zacks Investment Research.
The Deerfield, Illinois, company had revenue of $14.25 billion, about in line with the $14.3 billion analysts had projected.
Operating profit margin for the quarter was 13.6%, down slightly from last year’s 13.9%
Shares of Caterpillar Inc., down nearly 6% this year, slipped about 3% before the opening bell Tuesday.
A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT
© 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.