Caterpillar’s third quarter figures are out -- The company’s revenues continue to climb, and its stock followed suit Tues.
Cat reports third-quarter sales and revenues up more than $2 billion from a year ago. Sales and revenues totaled $11.4 billion, compared to $9.2 billion in the third quarter of 2016.
“Higher sales volume and our team's focus on cost discipline resulted in improved profit margins across our three primary segments,” Caterpillar CEO Jim Umpleby said in a news release.
Third-quarter profit per share came in at $1.77, up drastically compared to $0.48 per share in the third quarter of 2016.
Shares in Caterpillar surged higher in premarket trade Tues., after the world's largest heavy machinery manufacturer reported earnings and revenue that beat analysts’ expectations.
Caterpillar reported third quarter earnings per share of $1.95 on revenue of $11.4 billion.