Caterpillar shares rise as it posts higher profit from strong construction, power equipment sales
Caterpillar reported a higher first-quarter profit driven by strong sales in construction and power generation equipment, leading to a nearly 5% rise in its shares during premarket trading. The company's revenue increased 22% year-over-year, with its construction segment seeing a 38% revenue jump. Demand from data centers for power equipment related to artificial intelligence has significantly boosted its power and energy segment.
Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountCaterpillar CAT-N reported a higher first-quarter profit on Thursday, led by strong demand for its power generation and construction equipment, sending its shares up nearly 5 per cent in premarket trading.The company, seen as a bellwether for the global industrial economy, reported an adjusted per-share profit of US$5.54 in the January-March period, compared with US$4.25 a year earlier. (function(t) { t.Hotline = t.Hotline || []; t.Hotline.push({ "id": "kvrnvdnw", "version": "1.3.3", "period": "5D", "series": [ { "ticker": "CAT", "title": "Caterpillar Inc", "exchange": "Stocks - NYSE" } ] }); var b = document.getElementsByTagName("body")[0]; if (!b.classList.contains("gc-hotline-init")) {…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
