Caterpillar Inc. reported quarterly net earnings and revenue that crushed analysts’ expectations.
The construction and mining equipment company’s second-quarter net earnings came in at $2.60 –tripling from the year-ago quarter’s $1.27, and also exceeding the FactSet consensus of $2.41.
Total revenue climbed +28.9%year-over-year to $12.89 billion in the quarter, also beating the FactSet consensus of $12.51 billion.
Revenue from the company’s Construction Industries segment surged +40% from the year-ago quarter to $5.66 billion, but missed the FactSet consensus of $5.77 billion. Energy & Transportation business rose +20% to $4.98 billion, exceeding analysts’ expectations of $4.42 billion. Revenue from the Resource Industries segment increased +41% to $2.58 billion, beating expectations of $2.27 billion