Caterpillar ups profit outlook on doubling Q1 headline profit, record earnings

Global mining and construction equipment manufacturer Caterpillar has reported record first-quarter profit as strength in many of its end-markets and a strong emphasis on cost control boosted margins. The Deerfield, Illinois-based company reported adjusted profit of $2.82 a share – up 120% compared with $1.28 a share a year earlier. This beat the average analyst forecast for earnings a share of $2.07.