Caterpillar and Wabash Shine in Q2 Heavy Machinery Earnings

The heavy machinery sector has reported Q2 earnings, with Caterpillar (NYSE:CAT) standing out as the top performer.

Caterpillar's revenue of $20.54 billion, a 24% year-over-year increase, exceeded analysts' expectations by 8.4%, making it the company's first quarter to reach over $20 billion in sales and revenues.

Caterpillar 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.'

Wabash (NYSE:WNC) also reported a strong Q2, with revenue of $417.2 million, down 9.1% year-over-year but beating analysts' expectations by 3.6%. The company delivered the highest guidance raise among its peers.