Caterpillar 1Q Revenue, Profit Growth Driven by Higher Demand
2021年4月29日 - 8:17PM
Dow Jones News
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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