Caterpillar reports second-quarter 2021 results

State News
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DEERFIELD, Ill. (WMBD) — Caterpillar announced its second quarter of 2021 sales and revenues on Friday.

Their sales and revenues went up 29% to $12.9 billion versus $10 billion in the second quarter in 2020.

Increased sales volumes were a result of higher consumer demand for equipment and services and from dealer inventory changes. Inventory decreases were greater during the second quarter of 2020 than the second quarter of 2021.

During the second quarter of 2021, the operating profit margin was 13.9%, up from 7.8% during the second quarter of 2020. According to the earnings release, earnings per share were $2.56 in the second quarter of 2021 as compared with $0.84 in the second quarter of 2020. Compared with a second-quarter adjusted profit per share of $1.27 in 2020, the adjusted profit per share in the second quarter of 2021 was $2.60.

Restructuring costs were excluded from both quarters’ adjusted profit per share, while remeasurement losses resulting from pension obligations were excluded from the second quarter of 2020.

Cash flow from enterprise operations totaled $4 billion in the first half of 2021. A more generous dividend and shares repurchases increased the company’s shareholder return in the quarter to $0.8 billion. Cash at the end of the period amounted to $10.8 billion.

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