Caterpillar Surpasses $20 Billion in Quarterly Revenue for First Time Ever

Caterpillar Inc. (CAT) has achieved its highest revenue ever in a single quarter, surpassing $20 billion for the first time in company history. In the second quarter of this year, the heavy-duty equipment manufacturer recorded a revenue of $20.05 billion, up 24% from last year's estimate of $19.20 billion.

This significant growth was driven by strong order rates and a growing backlog across all three primary segments: construction industries, resource industry, and power and energy. The construction industries segment saw the biggest gain at 35%, followed by the resource industry segment at 20%, and power and energy at 17%.

Caterpillar's CEO Joe Creed highlighted this achievement, stating, 'This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter.'