Cat rides number, prices rise to sales increase 22%

Caterpillar (name)second quarter (of financial year)total income from salesand revenues were $17.3 billion, an increase of 221 TP3T from the same quarter in 2022. operating margin was 21.11 TP3T, compared to 13.61 TP3T in the second quarter of 2022.

The company cited increased sales and “price realization” as reasons for its gains.

that companyConstructionGroup sales were $7.2 billion, up 191 TP3T from the second quarter of 2022. construction sales in North America increased 321 TP3T to $4.0 billion as a result of higher volumes and favorable pricing realizations. The increase in volume was driven by increased sales of equipment to end users and the impact of changes in dealer inventories, which declined in the second quarter of 2022 and increased in the second quarter of 2023.

“I am proud of our global team's strong second quarter operating results,” CEO Jim Umpleby said in a statement. “Our results reflect continued healthy demand as we delivered double-digit revenue growth, record adjusted earnings per share, while generating strong ME&T free cash flow.”