(Reuters) – Caterpillar Inc reported a 14.3% rise in first-quarter revenue on Thursday, as higher construction activity and a rise in commodity prices boosted sales of its heavy equipment across industries.
The blue-chip company has been weighed down by production delays due to higher raw material costs and supply chain disruptions that have been exacerbated by the ongoing war in Ukraine.
However, strong demand has allowed the company to raise prices, which have helped shield its margins.
The company’s adjusted profit rose 1 cent to $2.88 per share.
Revenue for the quarter rose to $13.6 billion from $11.9 billion a year earlier.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Anil D’Silva)
