Caterpillar posts second-quarter earnings of $1.67 billion.

Caterpillar posts second-quarter earnings of $1.67 billion.

Summary : A new electricity law, which passed Thursday, bans the further construction of small hydroelectric power plants in the larger of Bosnia’s two independent entities.

DEERFIELD, Ill. (AP) — Caterpillar had a strong second quarter and topped most profit expectations, though margins slipped.

The manufacturer on Tuesday posted a quarterly profit of $1.67 billion, or $3.13. Per share earnings were $3.18 without one-time costs or benefits, which is 18 cents better than Wall Street had expected, according to a survey of industry analysts by Zacks Investment Research.

Operating profit margin for the quarter was 13.6%, down slightly from last year’s 13.9%

Shares of Caterpillar Inc., down nearly 6% this year, slipped about 3% before the opening bell Tuesday.

A caterpillar is seen by a small hydro power plant on the Zeljeznica river near the town of Trnovo, Saturday, July 9, 2022. It took a decade of court battles and street protests, but Balkan activists fighting to protect some of Europe’s last wild rivers have scored an important conservation victory in Bosnia. A new electricity law, which passed Thursday, bans the further construction of small hydroelectric power plants in the larger of Bosnia’s two independent entities. (AP Photo/Eldar Emric)A caterpillar is seen by a small hydro power plant on the Zeljeznica river near the town of Trnovo, Saturday, July 9, 2022. It took a decade of court battles and street protests, but Balkan activists fighting to protect some of Europe’s last wild rivers have scored an important conservation victory in Bosnia. A new electricity law, which passed Thursday, bans the further construction of small hydroelectric power plants in the larger of Bosnia’s two independent entities. (AP Photo/Eldar Emric)

DEERFIELD, Ill. (AP) — Caterpillar had a strong second quarter and topped most profit expectations, though margins slipped.

The manufacturer on Tuesday posted a quarterly profit of $1.67 billion, or $3.13. Per share earnings were $3.18 without one-time costs or benefits, which is 18 cents better than Wall Street had expected, according to a survey of industry analysts by Zacks Investment Research.

The Deerfield, Illinois, company had revenue of $14.25 billion, about in line with the $14.3 billion analysts had projected.

Operating profit margin for the quarter was 13.6%, down slightly from last year’s 13.9%

Shares of Caterpillar Inc., down nearly 6% this year, slipped about 3% before the opening bell Tuesday.

A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAT at https://www.zacks.com/ap/CAT

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