Steel Markets
July 24, 2014
Caterpillar Sees Improvement in Construction Industries
Written by Sandy Williams
Caterpillar said it was pleased with its second quarter results, particularly the improvement in profit despite weaker results in its mining segment. Profit after taxes was $146 million compared to $111 million in Q2 2013, an increase of 32 percent. Year over year revenue increased 5 percent to $728 million.
“Construction Industries had a good quarter with sales up 11 percent and operating profit up 83 percent from the second quarter of 2013,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. “The improvement in Construction Industries, along with sales stability and record profit from Energy & Transportation, has helped us improve profit despite the downturn in the mining industry.”
