Caterpillar rebounding in first-quarter of 2021 after a year of financial decreases

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DEERFIELD, Ill. (WMBD) — Revenues were on the rise for Caterpillar in their first-quarter financial earnings for 2021.

Sales and revenues, reported at $11.9 billion, increased by 12% from 2020.

Profit per shares also saw a dramatic increase, climbing from $1.98 in the first quarter of 2020 to $2.77 in the first quarter of 2021. The adjusted profit per share for the first quarter of 2021 is $2.87.

Another increase– 2021 first-quarter operating profit margin was 15.3%, compared to 13.2% in the first quarter of 2021.

Caterpillar ended the first quarter with $11.3 billion of enterprise cash.

I’m proud of our global team’s strong performance as they continue to serve our customers. We’re encouraged by improving conditions in our end markets and are proactively managing supply chain risks. Our dedicated team continues to execute our strategy for long-term profitable growth.”

CATERPILLAR CHAIRMAN AND CEO JIM UMPLEBY

The increases were caused by “higher sales volume and favorable currency impacts related to the euro and the Australian dollar,” according to a press release from the company.

Looking ahead, Caterpillar CFO Andrew Bonfield said there will be some risks and challenges trying to meet increased demand for the company’s equipment. He said he is confident that employees can handle the obstacle.

The full first-quarter report can be found here.

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