DEERFIELD, Ill. — Increased demand for construction equipment in North America helped push Caterpillar’s revenue 5% higher and the company beat forecasts. Sales of new construction equipment in North America jumped 13% in the first quarter, primarily driven by road construction projects, Caterpillar said Wednesday. Caterpillar, based in Deerfield, Illinois, reported first quarter net income grew 13% to $1.88 billion, or $3.25 per share, from the 2018 quarter. The construction equipment company said total revenue grew to $13.47 billion from $12.86 billion and also beat Street forecasts. Caterpillar said the revenue boost was partially offset by unfavourable currency impacts due to the stronger dollar.

Source: National Post April 24, 2019 15:22 UTC