Caterpillar Inc announced second-quarter 2012 profit per share of $2.54, an all-time quarterly record, and a 67-per cent increase from second-quarter 2011 profit per share of $1.52. Sales and revenues were $17.374 billion, also an all-time record, and a 22-per cent increase from second-quarter 2011 sales and revenues of $14.230 billion. Profit was $1.699 billion in the quarter, an increase of 67 per cent from $1.015 billion in the second quarter of 2011.

Caterpillar has narrowed the outlook range for sales and revenues and raised the outlook for profit. The sales and revenues outlook range for 2012 is now $68 to $70 billion with profit of about $9.60 per share at the middle of the sales and revenues outlook range. The adjustment to the high end of the sales and revenues outlook is a result of weaker economic conditions in much of the world and about $1 billion of negative currency impacts. Meanwhile, the profit outlook improved as a result of better underlying operating performance.