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.