Caterpillar Surges Past $20B Quarterly Sales

Caterpillar Inc., a leading manufacturer of construction and mining equipment, reported impressive second-quarter results. The company generated $20.5 billion in sales, a 24% increase from the same period last year.

The growth was driven by a surge in orders for engines and turbines used to power data centers, as well as stronger sales in construction and mining equipment. Chairman Joe Creed noted that this was the first time Caterpillar had exceeded $20 billion in a single quarter.

Caterpillar's Construction Industries segment saw sales rise 35% to $8.346 billion, while Power & Energy sales increased 17% to $8.238 billion. The company also reported an operating profit margin of 20.9%, up from 17.3% a year ago.

Caterpillar raised its full-year sales growth outlook to mid- to high-teens, up from low- to mid-teens guidance given in April. The company's backlog reached a record $72 billion, and it repurchased $1.5 billion of stock while paying $0.7 billion in dividends.