Sales up for Cat but China still struggling

By Andy Brown02 August 2022

The loader’s Cat C9.3B inline six-cylinder, direct injection diesel engine is rated at 321 gross hp at 1600 rpm. (Photo: Caterpillar)

Caterpillar has announced that sales for its construction division in the second quarter of 2022 were US$6.03 billion while sales for resource industries, which includes mining, was US$2.9 billion.

Construction sales for the world’s biggest OEM were up by 7% compared to the same quarter last year, while resource industries saw an even bigger increase of 16%.

Regarding construction, sales in North America were up by 20% compared to the same quarter last year and by 48% in Latin America. However, sales declined by 7% in EAME and by 17% in Asia Pacific. The major reason for this decline in Asia Pacific was lower sales in China.

Resource Industries’ total sales were US$2.961 billion in the second quarter of 2022, an increase of US$414 million, or 16%, compared with the second quarter of 2021. Sales increased by a healthy amount in North America and Asia Pacific – by 29% and 38% respectively. Caterpillar did see sales decline by 4% in Latin America and by 7% in EAME.

Caterpillar as a whole saw second quarter 2022 sales and revenues of US$14.2 billion, an 11% increase compared with US$12.9 billion in the second quarter of 2021.

“Our team delivered another good quarter with double-digit top line and adjusted profit per share growth despite ongoing supply chain challenges,” said Chairman and CEO Jim Umpleby.

“Our second-quarter results reflect healthy demand across most of our end markets. We remain focused on executing our strategy for long-term profitable growth.”

See the sales for the world’s top 50 construction OEMs here. 

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Demolition & Recycling International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
C&D waste company pleads guilty to cartel offences
Australia’s competition regulator files charges against Bingo Industries for alleged price-fixing
Tyrolit to update MoveSmart ‘before Bauma’
Internet-connected technology to be upgraded ahead of major trade show
First World Demolition Summit speakers announced
Two named for conference programme at Vienna in November
CONNECT WITH THE TEAM
Steve Ducker Editor, Demolition & Recycling International Tel: +44(0) 1892 786 210 E-mail: steve.ducker@khl.com
Bridget Leary Sales Manager Tel: +44 (0) 1892 786 220 E-mail: bridget.leary@khl.com
CONNECT WITH SOCIAL MEDIA