The period was the 23rd straight quarterly period of retail sales growth for the world’s largest seller of bulldozers, excavators and wheel loaders.
In its first full quarter since it bought mining equipment firm Bucyrus International last November, total revenues were up 25 per cent, with earnings per share up 29 per cent.
“We’re seeing strong global demand for most mining products and significant growth in replacement demand for products in the United States, which more than offset slowing in China and Brazil,” said Doug Oberhelman, Caterpillar?s chief executive.
Despite slower growth in China, sales overall in the dynamic Asia-Pacific region rose three per cent in the quarter from a year earlier, to $3.9 billion.
North American sales grew 26 per cent and sales in Europe, Africa and the Middle East grew 25 per cent.
The company has boosted its outlook for the year, forecasting revenues to end up in the $68 to $72 billion range. At the middle of the range, profits a share would come in at about $9.50 for the whole year, up 25 cents from the previous forecast.
Sources: The Australian, The West Australian