Caterpillar Inc has announced second-quarter sales and revenues of $11.3 billion, compared with $10.3 billion in the second quarter of 2016.
CEO Jim Umpleby said: “Our team delivered an impressive quarter. As demand increased, we continued to control costs and generated higher profit margins.
“While a number of our end markets remain challenged, construction in China and gas compression in North America were highlights in the quarter.
“Mining and oil-related activities have recovered from recent lows, and we are seeing improving demand for construction in most regions.”
As a result of increased demand in many end markets and disciplined cost control, Caterpillar is raising its outlook for 2017. In April, Caterpillar provided an outlook range for full-year 2017 sales and revenues of $38-41 billion.
Now, the company is raising its full-year 2017 expectations for sales and revenues to a range of $42-44 billion.