Caterpillar sales and revenues totaled $12.9 billion in the second quarter of 2021, up 29 percent from the same period in 2020 when sales were $10.0 billion.
Caterpillar chairman and CEO Jim Umpleby said in a prepared statement:
“We’re encouraged by higher sales and revenues across all regions and in our three primary segments, which reflect continued improvement in our end markets.”
The sales increase was primarily due to higher sales volume driven by higher end-user demand for equipment and services, said the company, along with changes in dealer inventories. In 2020, dealers decreased their inventories by $1.4 billion during the second quarter, compared with a decrease of $400 million during the second quarter of 2021.
Operating profit margin was 13.9 percent for the second quarter of 2021, compared with 7.8 percent for Q2 2020.
Caterpillar construction sales
Caterpillar’s construction industries segment rang up sales of $5.7 billion in the second quarter, up 40 percent over the $4.0 billion sold in Q2 2020. The segment posted a profit of $1.0 billion for the quarter, up 98 percent from $518 million in the same period last year.
North American construction industry sales were $2.5 billion for the quarter, up 56 percent from $1.6 billion in 2020. Caterpillar cited higher sales volume and favorable price realization, with volume driven by higher end-user demand primarily in residential construction.
Source: Caterpillar
