Caterpillar Q2 revenue down year-over-year [Video]

IRVING, Texas (25News Now) – Caterpillar Inc. has announced second-quarter results for 2024.

The company said sales and revenues were down 4%, from $17.3 billion at the end of Q2 2023 to $16.7 billion at the end of Q2 2024. Caterpillar blames the decrease primarily to a lower sales volume, but partially offset by favorable price realization.

Profit per share also came out lower, $5.67 at the end of Q2 2023 compared to $5.46 at the end of Q2 2024.

Adjusted profit per share rose from $5.55 to $5.99.

“I’d like to thank our team for delivering another strong quarter, including higher adjusted operating profit margin, record adjusted profit per share and robust ME&T free cash flow,” said Chairman and CEO Jim Umpleby. “Our results continue to reflect the benefit of the diversity of our end markets as well as the disciplined execution of our strategy for long-term profitable growth.”

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