Caterpillar Lifts Sales as Demand Holds Strong

Caterpillar Inc. increased sales by 17% in the first quarter as higher prices and strong demand continued to offset inflated manufacturing costs. 

The construction-equipment maker, based in Irving, Texas, said sales volumes rose in the first three months of the year thanks to an increase in equipment sales to end users, though services sales volumes fell. With growth across all three of its primary business segments, Caterpillar logged total revenue of $15.9 billion, topping analyst expectations for $15.1 billion, according to FactSet.