Caterpillar Inc. (NYSE: CAT) recently announced its second-quarter 2025 results.

Caterpillar Chief Executive Officer Joe Creed said:

The Caterpillar team remained focused on customer success and delivered solid operational results in the quarter. We continued to see strong order performance across our business segments. Infrastructure investment and growing energy needs continue to keep demand resilient.

Second-quarter 2025 sales and revenues were $16.6 billion, a 1% decrease from $16.7 billion in the second quarter of 2024. The decrease was primarily due to a $414 million unfavorable price impact, partially offset by a $237 million increase in sales volume. The increase in sales volume was mainly driven by higher end-user equipment sales.

Second-quarter 2025 operating profit margin was 17.3%, compared with 20.9% in the second quarter of 2024. Second-quarter 2025 adjusted operating profit margin was 17.6%, compared with 22.4% in the second quarter of 2024. Second-quarter 2025 profit per share was $4.62, compared with $5.48 per share in the second quarter of 2024. Second-quarter 2025 adjusted profit per share was $4.72, compared with $5.99 per share in the second quarter of 2024. Adjusted operating profit margin and adjusted profit per share for the second quarter of 2025 and the second quarter of 2024 exclude restructuring costs.

In the second quarter of 2025, operating cash flow from business activities was $3.1 billion, and the company had $5.4 billion of cash at the end of the second quarter. During the quarter, the company used $800 million of cash to repurchase Caterpillar common stock and $700 million for dividends.