Construction machinery giant caterpillar's second quarter profit increased by 34%
construction machinery giant caterpillar's second quarter profit increased by 34%
China Construction machinery information
Guide: on July 22, Beijing time, caterpillar Inc., the world's largest manufacturer of construction machinery and construction machinery, said its second quarter net profit increased by 34%, exceeding analysts' previous expectations, The reason is the growing demand for hoes and mining equipment in Asia and the Middle East, and the company's New York shares
on July 22, Beijing time, caterpillar Inc., the world's largest manufacturer of raw glass wool for construction machinery and construction machinery, said that its net profit rose 34% in the second quarter, exceeding analysts' previous expectations, because of the growing demand for hoes and mining equipment in Asia and the Middle East, and the company's New York stock price rose
caterpillar dynamometry piston belt is worn and broken, etc. today announced that the company's net profit in the second quarter rose to $1.11 billion (1.74 per share) from $823 million (1.24 per share) in the same period last year; Sales increased by 20% to US $13.6 billion
caterpillar said that the growth rate of the developing market may be six times higher than that of the North American market, and the U.S. economy may be "difficult to avoid recession". Road and power projects in Asia and the Middle East have increased the demand for local construction equipment, and the rise in crude oil and coal prices has promoted the growth of mining machinery sales
bill Batcheller, fund manager of Butler wick Co. in Youngstown, Ohio, said, "we are waiting for caterpillar to show us that its North American business has improved, but it is clear that this has not yet happened. The growth prospects in North America and Europe are quite weak."
caterpillar currently predicts that the company's net profit in 2008 will be $6 per share, which is between $5.64 and $6.18 per share as predicted in October last year; Revenue is expected to be $50billion, higher than the previously expected $47.2 billion to $49.5 billion. Analysts predict that caterpillar's revenue this year will be $48billion, with a profit of $6.03 per share
caterpillar CEO Jim Owens raised the price of machinery by up to 5%, which took effect this month because the prices of steel, copper and crude oil were higher than the company had expected. The Institute for supply management (ISE) raw material cost index rose to its highest level in nearly 30 years in June
Jim Hardesty, President of Hardesty capital management, an asset management company in Baltimore, said before the earnings announcement: "caterpillar is in the worst of the storm."
in the trading on the New York Stock Exchange (NYSE) as of 7:48, Caterpillar's share price rose $1.77, or 2.4%, to $75, closing at $73.23 yesterday. So far this year, the company's share price has adjusted the torque value to zero, up less than 1%