Caterpillar’s second quarter 2017 sales and revenues increased by 9.5 percent compared to 2016, reaching $11.3 billion. In response the company released an improved outlook for the remainder of the year.
“Our team delivered an impressive quarter. As demand increased, we continued to control costs and generated higher profit margins,” says CEO Jim Umpleby regarding the company’s financial details released July 25. “While a number of our end markets remain challenged, construction in China and gas compression in North America were highlights in the quarter. Mining and oil-related activities have come off of recent lows, and we are seeing improving demand for construction in most regions.”
Cat reports profit per share of $1.35, compared to $0.93 for the second quarter of 2016, and an adjusted profit per share of $1.49, compared to $1.09 last year.
BlueLine Rental, headquartered in The Woodlands, Texas, has completed its purchase of Capital Rentals, a move that expands BlueLine’s reach in the market surrounding Washington, D.C. Details of the acquisition have not been disclosed.
Capital, founded in 1969, has four locations in Virginia and one in Maryland. BlueLine reports the D.C. market is a top 10 metropolitan statistical area for rental revenue according to a recent IHS Global ranking.
