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“I'd like to thank our global Caterpillar team for outstanding results. The combination of strength in many of our end markets and our team’s continued focus on operational excellence - including strong cost control - helped us deliver improved margins and a record first-quarter profit,” said Caterpillar CEO Jim Umpleby.
“Based on our strong first-quarter results and higher demand across all regions and most end markets, we are raising our outlook for 2018. We will continue to make targeted investments in expanded offerings and services, consistent with our strategy for long-term profitable growth,” said Umpleby.
"Cat Financial’s core asset portfolio continues to perform well despite some remaining weakness in our Caterpillar Power Finance and Latin American portfolios," said Dave Walton, president of Cat Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. "The global Cat Financial team is focused on actively managing portfolio health and continuing to serve Caterpillar customers and Cat dealers worldwide through financial services solutions."