Caterpillar reports 2Q earnings

Posted on

Caterpillar today reported a second-quarter profit of $1.09 per share, an increase of 49 cents per share from a profit of 60 cents per share in the second quarter of 2009.

Profit of $707 million was 91 percent higher than the second-quarter 2009 profit of $371 million. Sales and revenues of $10.41 billion were up 31 percent from $7.98 billion in the second quarter of 2009, the company announced.

The company reported an increase in engine sales of $74 million, up 3 percent  over the second quarter of 2009.

“We’ve been highly focused on three things this year – significantly increasing production in response to higher demand from our customers, particularly in developing economies, aggressively managing costs and driving better cash flow,” Caterpillar CEO Doug Oberhelman said in a statement. “You can see the results in our second quarter – sales and revenues increased substantially, operating profit as a percent of sales more than doubled, and machinery and engines operating cash flow and our debt-to-capital ratio strengthened.

“The increase in our sales from first to second quarter 2010 was one of the most significant quarter-to-quarter increases in our history,” Oberhelman added.

Sales and revenues were up $2.43 billion from the second quarter of 2009.

The company is improving its outlook for 2010 by raising the sales and revenues range and increasing profit expectations. Sales and revenues are now expected to be in a range of $39 to $42 billion.

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

Will you be attending IBEX and the Fort Lauderdale International Boat Show?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password