Caterpillar Surges on Record Revenue and Lower Tariff Costs

Caterpillar has raised its annual revenue growth forecast following a strong second quarter that saw record revenue of $20.54 billion, up 24% from last year.

The company's power and energy segment posted 17% growth in revenue, while the core construction segment grew by 35%, driven by strong retail sales in North America where it recorded a 50% jump.

Caterpillar also beat earnings estimates with an adjusted per-share profit of $8.17 compared to $4.72 last year and cut its full-year tariff cost forecast to around $2.2 billion from the previously expected $2.6 billion.