LOCAL News :: Protest Activity
CAT reports record profit
PEORIA - Caterpillar Inc. reported today it had record first-quarter earnings and sales, with a profit more than three times what was gained during the first quarter of 2003.
Buoyed by a 34 percent increase in sales and revenues, Caterpillar had a profit of $412 million, or $1.16 a share, during the quarter, far surpassing the profit of $129 million, or 37 cents a share, from the same period last year.
The profit easily beat the expectations of Wall Street analysts, who forecast a profit of 70 cents a share.
Caterpillar also improved its forecast for the rest of the year, saying it expects 2004 profits to be 65 to 70 percent higher than those of 2003.