Caterpillar Beats Earnings Estimates as Sales & Revenues Increase 24% YOY
Dow 30 Component Caterpillar, Inc. (CAT) is the world’s chief manufacturer of diesel and natural gas engines, construction and mining equipment, industrial gas turbines, and diesel-electric locomotives. Caterpillar, Inc. also works to make sustainable progress possible and contributes to driving positive change on every continent.
Caterpillar beating estimates of $2.747 per with reported earnings of $2.97 per share for the second quarter of fiscal year 2018. The company, which reported its earnings on July 30, 2018, saw its sales and revenues increase 24 percent with $14.0 billion in comparison to $11.3 billion in the second quarter of 2017.
The Machinery, Energy, and Transportation reported an operating cash flow of $2.1 billion. Caterpillar repurchased $750 million in common stock and in June 2018 the company’s board of directors authorized a quarterly dividend increase of 10 percent, raising it to $0.86 per share. Overall, Caterpillar concluded Q2 2018 with an enterprise cash balance of $8.7 billion.
Jim Umpleby, Caterpillar CEO “Caterpillar delivered record second-quarter profit per share. Our team is doing a great job executing our strategy for profitable growth, focusing on operational excellence, expanded offerings and services.”
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