CAT Hits $20B Revenue Milestone in Second Quarter

Caterpillar Inc. (CAT) has reported its highest revenue ever in a single quarter, surpassing Wall Street analyst expectations.

The company's second-quarter results showed revenue of $20.05 billion, up 24% from the same period last year and ahead of the $19.20 billion estimate polled by Koyfin.

Adjusted earnings per share (EPS) were $8.17, which easily topped the $6.20 per share estimate.

CAT CEO Joe Creed said, 'This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter.'

The strong order rates and growing backlog reflect broadening momentum across all three of CAT's primary segments.