Cat Posts Record 1st-Quarter Profit
Caterpillar Inc. has reported record first quarter 2006 sales and revenues of $9.392 billion and record first-quarter profit of $840 million, or $1.20 per share. Sales and revenues increased 13% and profit per share was up 48% compared with the first quarter of 2005.
Sales and revenues increased $1.053 billion from the first quarter a year ago. Of the increase, $587 million was from improved price realization, $511 million was due to higher sales volume and $99 million was from higher Financial Products revenues. The effect of currency on sales was negative $144 million, primarily due to a weaker Euro.