Caterpillar sees order backlog in construction market

04/23/2013 | Bloomberg · Reuters · Wall Street Journal, The

Although Caterpillar's first-quarter profit fell 45% from the year-ago level, the company's share price rose on Wall Street on Monday in reaction to optimism about the construction industry in the U.S. and China. Caterpillar Chairman and CEO Doug Oberhelman said he was encouraged by "stability" in the construction markets in both the U.S. and China. "We have been watching relatively flat but slightly increasing sales to users for a number of months," he added.

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Bloomberg · Reuters · Wall Street Journal, The

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