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Cat 992 Lwl 2021 1 6191b42d58555

Caterpillar Increases Revenues 25.5 Percent in Third Quarter

Nov. 15, 2021
Caterpillar’s sales and revenues in the third quarter were $12.397 billion, compared to $9.881 billion in the third quarter of 2020, a 25.5-percent increase.

Caterpillar’s sales and revenues in the third quarter were $12.397 billion, compared to $9.881 billion in the third quarter of 2020, a 25.5-percent increase. Profit per share was $2.60, more than double the $1.22 profit per share in Q320. The increase was primarily the result of higher sales volume, driven by higher end-user demand for equipment and services, as well as favorable price realization.

Dealers decreased inventories by $660 million during the third quarter of 2021.

Caterpillar’s Construction Industries segment increased sales by 30 percent. Resources Industries jumped 32 percent, Energy & Transportation hiked 22 percent and all other segments combined to increase 12 percent.

“Our global team continues to execute our long-term strategy for profitable growth while working to mitigate supply chain challenges as we serve our customers,” said chairman and CEO Jim Umpleby. “Our third quarter results reflect higher sales and revenues across our three primary segments and in all regions.”

In North America sales increased 36 percent with higher sales volume from improving non-residential construction as well as continued strength in residential construction and in the impact from changes in dealer inventories. Sales increased 130 percent in Latin America led by higher sales volume and higher end-user demand. Also, sales leapt 56 percent in Europe, Asia and Middle East. However, sales decreased 13 percent in Asia/Pacific primarily because of lower sales volume. Dealers decreased inventories during the third quarter of 2021 compared to an increase in the third quarter of 2020. Lower sales in China, driven by lower end-user demand, partially offset by increased sales across the rest of the region.

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.