Caterpillar Profit Jumps on Strong Demand for Construction Equipment

Caterpillar reported a significant increase in its second-quarter profit, driven by strong demand for power-generation and construction equipment. The company's adjusted per-share profit nearly doubled to $8.17 compared to $4.72 per share in the same period last year.

The industrial equipment giant saw a surge in orders for construction equipment, particularly due to the nationwide buildout of data centers and backup power equipment needed for such buildings.

Caterpillar's overall revenue grew 24% to $20.54 billion in the quarter ending June 30, with its core construction segment revenue increasing by 35% during that period.