Caterpillar Inc. (NYSE: CAT) recently announced sales and revenue of $17.3 billion in the second quarter of 2023, an increase of 22% from $14.2 billion in the second quarter of 2022. The growth was mainly due to higher sales volume and higher prices.
Operating margin was 21.1% in the second quarter of 2023, compared with 13.6% in the second quarter of 2022. Adjusted operating margin was 21.3% in the second quarter of 2023, compared with 13.8% in the second quarter of 2022. Earnings per share in the second quarter of 2023 were $5.67, compared with $3.13 in the second quarter of 2022. Adjusted earnings per share in the second quarter of 2023 were $5.55, compared with adjusted earnings per share in the second quarter of 2022 of $3.18. Adjusted operating margin and adjusted earnings per share for the second quarter of 2023 and 2022 exclude restructuring costs. Adjusted earnings per share for the second quarter of 2023 excludes extraordinary tax benefits resulting from adjustments to the deferred tax balance.
In the first half of 2023, the company’s net cash flow from operating activities was US$4.8 billion. The company ended the second quarter with $7.4 billion in cash. During the second quarter, the company repurchased $1.4 billion of Caterpillar common stock and paid $600 million in dividends.
An Bojun
Caterpillar Chairman
CEO
I’m proud of the Caterpillar global team that delivered strong operating results in the second quarter. We delivered double-digit revenue growth and record adjusted earnings per share, while our Machinery, Energy and Transportation businesses generated strong cash flow, a performance that reflects continued healthy demand. Our team remains committed to serving customers, executing corporate strategy, and continuing to invest in long-term profitable growth.
Post time: Oct-23-2023