Increases Seen in Caterpillar’s Q1 Financial Report

Caterpillar Inc. announced its first-quarter earnings before the opening Thursday. Earnings per share (EPS) hit $ 2.87, ahead of a consensus of $ 1.94, and revenue came to $ 11.9 billion, beating expectations at 11.09.

CAT officials say this is because of higher sale volume, driven by higher-end user demand, and the impact from changes in dealer inventories.

Caterpillar is expected to benefit from U.S. President Joe Biden’s massive $2 trillion infrastructure plan that includes hundreds of billions of dollars.