Heavy equipment maker Caterpillar Inc. said Wednesday its first-quarter profit climbed to a record high and the companyÌýboosted its full-year earnings outlook.
Net income rose toÌý$1.59 billion, or $2.37 a share, from $1.23 billion, or $1.84, a year earlier, Caterpillar said in a statement. Sales improved 23% to $16 billion.
Caterpillar, the largest maker of earth-moving equipment, also boosted its full-year earnings outlook to about $9.50 per share, from its prior forecast of $9.25 per share.
Caterpillar, which formerly made diesel truck engines, said in 2008 it was pulling out of the North American Class 8 truck engine market except for a truck and engine in partnership with Navistar International Corp.
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