Reuters.- Caterpillar Inc reported an increase in its quarterly profits on Friday, as the recovery of the world economy after the pandemic raised its sales in all regions and businesses it operates.
The company, an industrial benchmark and an important barometer of world economic activity, it has benefited from higher infrastructure spending around the world.
The world economy is expected to expand to 6.0% this year and 4.5% in 2022, according to Reuters polls, but most economists noted that the latest variants of the coronavirus represent the main risk for these forecasts.
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A rise in raw material prices is also encouraging miners to invest in new machines.
The Illinois-based heavy machinery maker expects demand to remain strong in the current quarter. However, operating profit is expected to moderate, affected by supply chain challenges.
Adjusted profit for the second quarter was $ 2.60 per share, compared to $ 1.27 per share for the same period last year. Analysts surveyed by Refinitiv, on average, expected earnings of $ 2.40 per share.
Equipment sales increased 31% year-on-year in the quarter, to $ 12.2 billion, helped by robust demand in North and Latin America.
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