Caterpillar posted total sales and revenues of $14.247 billion for the second quarter of 2022 compared to $12.889 billion in the second quarter of 2022, a 10.5-percent increase. The increase was the result of favorable price realization and higher sales volume, partially offset by unfavorable currency impacts primarily related to the euro, Australian dollar and Japanese yet. The increase in sales volume was driven by services, partially offset by lower sales of equipment to end users.
Sales were higher across the three primarily segments, with Construction Industries up 7 percent, Resource Industries up 16 percent and Energy & Transportation rising 15 percent.
Operating profit for the second quarter of 2022 was $1.944 billion, an increase of $155 million or 9 percent compared with $1.789 billion in the second quarter of 2021. The increase was primarily from favorable price realization and higher sales volume, partially offset by higher manufacturing costs and higher selling, general and administrative, and research and development expenses. Unfavorable manufacturing costs largely reflected higher material and freight costs.
North America sales hiked 20 percent; Latin America soared 48 percent, while EAME declined by 7 percent and Asia Pacific dropped by 17 percent.
“Our team delivered another good quarter with double-digit top line and adjusted profit per share growth despite ongoing supply chain challenges,” said chairman and CEO Jim Umpleby. “Our second quarter results reflect healthy demand across most of our end markets. We remain focused on executing our strategy for long-term profitable growth.”
