Caterpillar (CAT) shares are ri꧙sing in premarket trading Tuesday as the construction vehicle maker's second-quarter profits beat analysts' estimates, offsetting another quarter of revenue falling short of expectations.

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开奖号码历史查询: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开奖号码历史查询:company's first-quarter report, sales in Caterpillar's Construction Industries and Resource Industries divisions slipped, while Energy & Transportation se🌜gment sales rose slightly. The decline in sales volume due to lower dealer inventory was partiall😼y 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开奖号码历史查询:Chief Executive Officer (CEO) Jim Umpleby said. "Our results continue to reflect the benefit of t♉he diversity of our end markets as well as the disciplined execu♊tion of our strategy for long-term profitable growth."

Caterpillar shares were up 3.7% to $328.50 a♋bout 90 minutes before the opening bell Tuesday. They have gained about 11% since the st🌟art of 2024.