Dividend.com: Year of the CAT

Caterpillar's Results Get an Asian Boost

Caterpillar(CAT Quote) has been a big beneficiary of Asia's recent build-out. The company delivered a solid second-quarter earnings report, and also increased its guidance.

CAT reported that machinery sales ramped up 50% during the quarter. Management sees higher steel and commodity prices as still a main concern for the company going forward. The company is working with suppliers to reduce those material costs. Plans are in place to raise prices 5% to 7% worldwide, effective January 2009.

Earnings for the year are expected to be $6 per share, with revenue of $50 billion. That's above earlier estimates for profit of $5.64 to $6.18 per share on revenue of $47.2 billion to $49.5 billion. ...