Caterpillar Sales Jump 21.8 Percent in Second Quarter
Caterpillar posted second quarter 2023 sales and revenues of $17.3 billion, a 21.8-percent increase, compared with $14.2 billion in the second quarter of 2022. Caterpillar said the increase was primarily because of higher sales volume and favorable price realization.
Operating profit margin was $21.1 percent for the second quarter of 2023, compared with 13.6 percent for the second quarter of 2022. Adjusted operating profit margin was 21.3 percent for the second quarter of 2023, compared with 13.8 percent for the second quarter of 2022. Second quarter 2023 profit per share was $5.67, compared with second quarter 2022 profit per share of $3.13.
“I’m proud of our global team’s strong operational performance in the second quarter,” said Jim Umpleby, chairman and CEO. “Our results reflect continued healthy demand as we achieved double digit top-line growth and record adjusted profit per share while generating strong ME&T free cash flow. Our team remains committed to serving our customers, executing our strategy and continuing to invest for long-term profitable growth.”
Increases were achieved around the world, only to varying degrees. Consolidated sales and revenues increased 32 percent in North America; 18 percent in Europe, Africa and the Middle East; 10 percent in Asia/Pacific and 6 percent in Latin America.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.
