Caterpillar Lifts Outlook After Generating More than $20B in Sales, Revenues
Dow Jones
Aug 04
1109 GMT - Caterpillar posts total sales and revenues of $20.54 billion in the second quarter. The equipment maker's top line grew 24% from last year and came in ahead of Wall Street models. "This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter," CEO Joe Creed says. "Strong order rates and a growing backlog reflect broadening momentum across all three of our primary segments." Looking ahead, Caterpillar says it now expects mid-to-high teens growth in sales and revenues this year. That compares with a prior outlook for low double-digit sales and revenue growth. Shares gain 7.2% premarket.
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