Cat posts all-time record quarter for sales, revenues and profit per share

Caterpillar is reporting sales and revenues up 20 percent, and profits per share up 40 percent when compared to the second quarter of 2007. Cat attributes their success to robust growth in markets such as energy and mining outside North America.

Cat per share profits for the second quarter of 2008 were $1.74, up 40 percent from the 2007-second quarter, which was $1.24 per share. Second quarter sales and revenues were also up 20 percent from $11.356 billion in 2007, to $13.624 in 2008, up $2.268 billion from the second quarter of 2007.

Cat’s second quarter profit was $1.106 billion, up 34 percent or $283 million from the 2007-second quarter profit of $823 million. Cat’s global sales continued to shift outside of North America. Cat’s outside sales and revenues increased 30 percent, and North American sales accounted for 7 percent. Sales and revenues beyond North American accounted for 60 percent of total sales and revenues for the second quarter, up 55 percent from the same quarter in 2007.

Caterpillar’s outlook for 2008 reflects sales and revenues of approximately $50 billion and a $6.00 per share profit. Earlier forecasts estimated 2008 sales and revenues to be circa $47.2 to $49.5 billion, with a profit per share of $5.64 to $6.18.