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4/28, 12:34 PM (Source: TeleTrader)
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Caterpillar revenue up 14% to $13.6B in Q1

Caterpillar Inc. announced on Thursday that its sales and revenues for the first quarter of 2022 reached $13.6 billion, soaring 14% compared to the same period a year prior, beating estimates.

The company's earnings per share (EPS) stood at $2.86 in the first trimester of 2022, in comparison to $2.77 recorded in the same period a year earlier. The operating profit margin for the three-month period was 13.7%, compared to last year's 15.3% for the same trimester.

"I’m proud of our global team’s performance as they achieved double-digit sales growth despite ongoing supply chain challenges," CEO Jim Umpleby noted adding that the company's "strong balance sheet allowed us to repurchase shares and pay dividends totaling $1.4 billion in the quarter."

Caterpillar's shares rose 2.40% in the premarket trade after the announcement.

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