Caterpillar Says 2024 Profits Will Be Higher Than Expected
- Lower than expected costs, favorable prices boosted earnings
- Full-year sales are now expected to be slightly lower
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Caterpillar Inc. said its annual profit will probably be higher than previously expected, as the company reported second-quarter earnings that showed resilience despite growing worries about the global economy.
Caterpillar, one of the world’s biggest producers of heavy machinery, is seen as a bellwether for industrial activity as a key supplier to industries from construction and mining to energy and transportation.