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Sat May 26 2018

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News » US » Cat reports surges in sales and profits » published 26 Apr 2018

Cat reports surges in sales and profits

Caterpillar latest quarterly results show sales and revenue up 31% and that profit per share has more than doubled.

The company has raised its full-year outlook after delivering the higher sales and record profit per share.

The first-quarter 2018 sales and revenues were US$12.9bn, compared with US$9.8bn in the first quarter of 2017. Adjusted profit per share in the first quarter of 2018 was US$2.82, compared with first-quarter 2017 adjusted profit per share of US$1.28.

“I'd like to thank our global Caterpillar team for outstanding results,” said CEO Jim Umpleby. “The combination of strength in many of our end markets and our team’s continued focus on operational excellence - including strong cost control - helped us deliver improved margins and a record first-quarter profit.”

In January, Caterpillar provided a 2018 profit outlook range of US$7.75 to US$8.75 per share. The company is increasing its 2018 profit outlook by US$2.00 per share to a range of US$9.75 to US$10.75 per share, primarily due to growing demand for products and services. The outlook includes about US$400 million of restructuring costs, unchanged from the previous outlook.

In construction, the company expects broad-based growth in all regions in 2018, with the biggest drivers being continued strength for construction activity in North America and infrastructure development in China.

 

MPU

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This article was published on 26 Apr 2018 (last updated on 30 Apr 2018).

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