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Caterpillar adjusted profit rises on higher equipment sales -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Caterpillar Inc. Equipment is displayed at a San Diego retail location, California, U.S.A, on March 3, 2017. REUTERS/Mike Blake/File photo

Caterpillar Inc. saw an increase in third-quarter adjusted profits on Thursday as a result of higher commodity prices and increased construction demand.

As an industrial beacon and proxy of global economic activity, the company has seen increased demand for North American construction and a rise oil and commodity prices. This is causing customers to purchase more equipment while increasing production.

Sales at Caterpillar (NYSE:) The largest segment of the company, construction industries, saw a 30% increase to $5.26 trillion in the third quarter that ended September 30.

From $1.52 per shares a year prior, the pandemic ravaged sales.

Sales and revenue totals rose by 25% to $12.4 Billion in the quarter.

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