Caterpillar revenue up 29%, AbbVie sales jump on Humira, Botox demand

Summary

  • Caterpillar Inc. (NYSE: CAT) reported revenue of US$12.9 billion in Q2, 2021.
  • It returned US$0.8 billion in dividends and repurchasing stocks.
  • AbbVie Inc.’s (NYSE: ABBV) revenue for the quarter was US$13.959 billion.

Industrial giant Caterpillar Inc (NYSE: CAT) and pharma major AbbVie Inc. (NYSE: ABBV) posted robust second-quarter revenue growth on Friday, as the economic saw a strong rebound amid rapid vaccinations.

Caterpillar revenue surged 29 percent YoY to US$12.9 billion, while AbbVie saw a 39 percent jump in revenue to US$13.959 billion YoY in the June quarter.

Caterpillar’s profit per share rose to US$2.56 compared to US$0.84 in Q2 last year. On the other hand, the pharma giant’s adjusted gross margin was up 82 percent, and its diluted EPS was US$0.42.

Caterpillar’s Q2 stats

The industrial giant’s operating profit margin was 13.2 percent compared to 7.8 percent in Q2 of 2020. Operating cash flow for the first six months was US$4 billion.

In addition, the US-based company returned US$0.8 billion in dividends to shareholders in the quarter after a hike in dividends and repurchasing stocks. Overall, the company had US$10.8 billion in enterprise cash at the end of the second quarter.

Also read: Mastercard’s revenue climbs 36%, T-Mobile’s net income rises by 789%

Source: Pixabay.

The CAT stock tumbled 2.61 percent to US$207 at 8.20 am ET on July 30 after the earnings report.

Caterpillar manufactures construction and mining machinery, natural gas, and crude oil engines, among others. Its stock value surged by 16.78 percent YTD.

The market cap of the industrial giant is US$116 billion. The P/E ratio is 34.01, and the forward P/E one year is 21.87. The EPS is US$6.25, and the annual dividend is US$4.44. The highest and lowest stock value for the last 52 weeks is US$249.69 and US$130.21. Its share volume is 3,419,668.

AbbVie Q2 Performance

Its global net revenue from the neuroscience section increased by 98.8 percent YoY to US$1.4 billion. Revenues from Botox operations doubled to US$603 million, while net revenues from Global Humira were US$5 billion, an increase of 4.8 percent YoY.

AbbVie provides therapeutic services for eye, immunology, oncology, virology, women's health, etc.

Also read: AMD revenue surges 99% in Q2, Qualcomm’s net income more than doubles

The AbbVie stock rose by 0.03 percent to US$118.91 at 8.28 am ET on July 30. The forward P/E one year is 9.40, and the P/E ratio is 42. The EPS and annual dividend are US$2.83 and US$5.20.

The highest and lowest stock value of ABBV for the last 52 weeks is US$119.13 and US$79.11. The share volume is 4,632,158. Its stock value went up by 10.94 percent YTD.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.

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