Caterpillar Inc., the world's largest construction and mining equipment maker, is shifting its economic engine into overdrive with several new capital projects following a record-setting second quarter.
Fueled by industrial market strength in mining, energy and infrastructure, the Peoria, Ill.-based company saw second-quarter profits increase 91% to $707 million, up from $371 million a year ago. Caterpillar has since upped its annual outlook based on higher expected machinery sales and revenue, which could top $40.5 billion. Other construction equipment manufacturers are seeing similarly bullish results.