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Caterpillar raises FY outlook after record first quarter
Wednesday, 25th April 2012
Caterpillar has unveiled record first quarter results driven by growth in mining, strong replacement demand for products in the US and a continued focus on cost management.Caterpillar delivered record quarterly profit per share of $2.37 in the first quarter - an increase of 29% from last year.
First-quarter sales and revenues rose 23% to $15.981bn and profit was a record $1.586bn - an increase of 29% from $1.225bn in the first quarter of 2011.
Caterpillar has increased the profit outlook for 2012 while maintaining the sales and revenues outlook in the range of $68bn to $72bn.
Story provided by StockMarketWire.com
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