Aug 2 (Reuters) – Caterpillar posted higher adjusted second-quarter profit on Tuesday as higher equipment prices helped cushion the effects of soaring freight and raw material costs.
Despite supply chain issues and rising related costs, Caterpillar, seen as a barometer of global industrial activity, benefited from strong demand for equipment as well as price increases and cost control.
“Our second quarter results reflect healthy demand in most of our end markets,” Chief Executive Jim Umpleb said.
For the quarter ended June, Caterpillar’s sales reached 14.25 billion dollars (13.94 billion euros), against 12.89 billion dollars a year earlier.
Its adjusted earnings rose to $3.18 per share from $2.60 per share in the same period. (Reporting Abhijith Ganapavaram in Bangalore; French version Dagmarah Mackos, editing by Kate Entringer)
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