
Citing higher sales volume driven by both higher end-user demand and dealer inventory change, Cat says its Q2 sales and profits increased 29% to $12.9 billion, compared with $10 billion during the same period last year when the initial impacts of the pandemic were felt.
Cat dealers decreased their inventories less this year during the quarter ($400 million) than they did during Q2 2020, when they decreased inventories by $1.4 billion.
Double-digit sales and revenues percentage increases were seen Cat's three main global segments, with construction industries seeing a 40% increase, resource industries showing a 41% increase and energy and transportation realizing a 20% increase.
Caterpillar
“Our dedicated global team remains focused on serving our customers, executing our strategy and investing for future profitable growth,” says Jim Umpleby, Caterpillar chairman and CEO . “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.”