Caterpillar Reports 8% Decrease in Profit in Q2 Earnings Release

Caterpillar Inc. [CAT] reported a net profit of $2.681 billion for the second quarter of 2024, ending on June 30. This represents an 8% decrease from the previous quarter's net profit.

The company, headquartered in Irving, Texas, reported to SEC in an 8-K filing $5.48 earnings per share in the quarter, compared to $5.67 in the previous quarter.

Caterpillar Inc., a leader in the Machinery sector, reported revenues of $16.689 billion, showing a 4% decrease from the previous quarter's revenue.

In comparison to the same quarter in the previous year, Caterpillar Inc. experienced a 4% decrease in revenue. The profit in the current quarter also decreased by 8% compared to the profit in the same quarter of the previous year.