What happened: Caterpillar (CAT) stock jumped as much as 10% before trimming gains on Tuesday.
What's behind the move: The heavy equipment maker reported second quarter sales and revenues increased 24% to $20.5 billion.
"This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter," Caterpillar CEO Joe Creed said.
The results were powered by strong order rates and a growing backlog across all three of the company's primary segments.
Caterpillar's backlog rose to $72.1 billion, up 92% from the same time last year.
#revenues #tuesday
What's behind the move: The heavy equipment maker reported second quarter sales and revenues increased 24% to $20.5 billion.
"This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter," Caterpillar CEO Joe Creed said.
The results were powered by strong order rates and a growing backlog across all three of the company's primary segments.
Caterpillar's backlog rose to $72.1 billion, up 92% from the same time last year.
#revenues #tuesday
2 months ago
