Skip to main content

Caterpillar reports 2Q results

Caterpillar Inc. today announced a second-quarter profit of $710 million.

Caterpillar Inc. today announced a second-quarter profit of $710 million, or $1.16 a diluted share, a decrease from $999 million, or $1.57 a share, in the same quarter last year.

Excluding restructuring costs, profit per share for the quarter that ended June 30 was $1.27, down from $1.69 in the 2014 quarter.

Second-quarter 2015 sales and revenue totaled $12.3 billion, down 13 percent from $14.2 billion a year earlier.

“Our Caterpillar team continues its track record of solid operational performance in the face of difficult conditions in several of the key industries we serve,” Caterpillar chairman and CEO Doug Oberhelman said in a statement.

“Because we serve cyclical industries, we focus intently on operational execution and cost control,” Oberhelman said. “This is particularly important when sales decline; our goal when sales decline is to manage costs so the decline in operating profit is less than 30 percent of the decline in sales and revenues. We did much better than that in the second quarter. We’ve achieved that by closely watching costs, the restructuring we’ve done over the past two years and the work done by Caterpillar employees across the world who are proving we can excel in this challenging economic environment.”

“Our focus during these challenging times is on operational execution and customer success through efforts like lean management and our across-the-table initiative with dealers, while also investing in tomorrow through new technologies, innovation and data analytics — both within Caterpillar and by partnering with and investing in other companies.”

The 2015 outlook for profit per share is unchanged at $4.70, or $5, excluding restructuring costs. The outlook for 2015 sales and revenues is about $49 billion, which is down $1 billion from the previous outlook.

Related

DOMETIC-EARNINGS

Dometic Posts Sales Increase for Q4

Net sales of $596 million were up 11% compared with the previous-year quarter, and profit was reported at $2.6 million.

NEPTUNE-AWARDS

Marine Marketers to Present Neptune Awards

The group will hand out its annual honors during the Miami International Boat Show in February.

MARINEMAX-EARNINGS

MarineMax Releases Q1 2023 Results

Record revenue of $507.9 million was a 7% increase over the previous year, and the growth was driven primarily by acquisitions, including IGY Marinas.

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.

1_SHURHOLD

Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.