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Business & Economy

Caterpillar 2Q Revenues Up, But Stock Prices Fall In Premarket Trading

Jeff Smudde / WCBU

Caterpillar saw second quarter sales and revenues of $12.9 billion this year.

That's a 29 percent increase compared to last year. The company says the rally was spurred by higher sales and demand.

Operating profit margin was up 13.9 percent in the second quarter. Profit per share was $2.56, up significantly from the 84 cents per share reported in 2020's second quarter.

"Our dedicated global team remains focused on serving our customers, executing our strategy and investing for future profitable growth," said Caterpillar Chairman and CEO Jim Umpleby in a prepared statement. "We're encouraged by higher sales and revenues across all regions and in our three primary segments, which reflect continued improvement in our end markets."

The company didn't include full year guidance in its earnings release Friday morning. Shares were down in premarket trading.