American Caterpillar is More Positive about Profit
American Caterpillar is More Positive about Profit. The American Caterpillar, the world’s largest manufacturer of excavators, bulldozers and mining trucks, is raising its profit forecast for the whole of 2018 after an excellent first quarter. The machine builder benefits from strong demand for his products from the mining industry and construction sector, reported by INC News.
Revenue increased by almost a third in the last reporting period to $ 12.9 billion compared to a year earlier. Also, Caterpillar sold more machines in all regions, helped by the improving world economy and higher raw material prices. The company did particularly well in the American home market and in Asia. Also, the group also had the wind in the back due to favorable exchange rate effects. Net profit came to nearly 1.7 billion dollars.
For the whole of 2018, Caterpillar now expects to earn a profit per share of 9.75 to 10.75 dollars. That is $ 2 per share more than the profit forecast that was issued in January