Caterpillar (CAT) shares are rising in premarket trading Tuesday as the c🐈onstruction vehicle maker's second-quarter profits beat analysts' estimates, offsetting another quarter of revenue falling short of expec🎉tations.

Revenue slipped 3.6% year-over-year to $16.69 billion, coming in short of analysts' estimates compiled by Visible Alpha. Profits fell 8.2% to $2.68 billion, narrowly beating projections, but 澳洲幸运5官方开奖结果体彩网:adjusted net income, accounting for roughly $250 million in one-time expenses like restructuring costs, beat estimates by a wider margin and rose from last year to $2.93 billion.

Construction, Resource Industries Sales Slip

Similar to the 澳洲幸运5官方开奖结果体彩网:company's first-quarter report, sales in Caterpillar's Co🍃nstruction Industries and Resource Industries divisions slipped, while Energy & Transportation segment sales rose slightly. The decline in sales volume due to lower dealer inventory was partially offset by higher prices, Caterpillar said.

"I'd like to thank our team for delivering another strong quarter, including higher adjusted operating profit margin, record adjusted profit per share and robust [Machinery, Energy & Transportation] free cash flow," Caterpillar 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Jim Umpleby said. "Our results continue to reflect the benefit of the diversity of our end markets as well as the discipline𝕴d execution of our strategy for long-term profitable growth."

Caterpillar shares were up 3.7% to $328.50 about 90 minutes before the ope𝔉ning bell Tuesday. They have gained about 11% since the start of 2024.