DEERFIELD, Ill. (WMBD) — Caterpillar’s first quarter of 2022 led to an increase in sales and revenue from the same timeframe in 2021.

The company reports sales and revenue for the first quarter of 2022 of $13.6 billion. That’s a 14% increase in comparison with the $11.9 billion they earned in the first quarter of 2021. A rise in sales in revenue is related to higher sales driven by user demand for equipment and services.

Inventory for dealers also rose during the first quarter of 2022 compared to 2021.

Caterpillar’s first-quarter of 2022 operating profit margin came out to 13.7%, and its profit per share was valued at $2.86. Adjusted profits per share increased by one cent to $2.88.

“I’m proud of our global team’s performance as the achieved double digit sales growth despite ongoing supply chain challenges. We remain focused on supporting our customers and executing our strategy for long-term profitable growth,”

CEO and Chairman Jim Umpleby