Caterpillar's sales and revenue in the first quarter of 2021 increased by 12%, from 10.6 billion U.S. dollars last year to 11.9 billion U.S. dollars in 2021. From the perspective of the company's construction sector alone, global sales have increased by 27%.
Caterpillar stated that the increase was "sales growth driven by increased end-user demand and changes in dealer inventory". Compared with the $100 million increase in sales in the first quarter of 2020, this year's sales have increased by 700 million. US dollars. The results of the first quarter of 2020 also reflect the impact of the global pandemic.
This quarter, Caterpillar’s global sales in its three major business segments all increased: construction (up 27%), resources (up 6%), and energy and transportation (up 4%).
However, sales in the North American construction industry increased by only 2% this quarter, while sales in the Asia-Pacific (72%), Latin America (48%) and Europe/Africa/Middle East (22%) growth increase. Caterpillar said that the increase in end-user demand (mainly driven by residential construction) was partially offset by changes in dealer inventory and unfavorable price realization.
Compared with the first quarter of 2020, Caterpillar Financial Products’ revenue in North America fell by 9%. At the end of the first quarter of 2021, global overdue accounts payable was 2.9%, compared with 4.13% in the first quarter of 2020.
Jim Umpleby, Chairman and CEO of Caterpillar, said: "I am proud of our global team's outstanding performance in continuing to serve customers. We are encouraged by the improvement of end market conditions and are actively managing supply chain risks. We are dedicated The team will continue to implement our long-term profitable growth strategy."
