Caterpillar’s quarterly profit rises amid robust demand for construction equipment

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Open this photo in gallery: Caterpillar equipment at the construction machinery trade fair Bauma China, in Shanghai, China, on Nov. 25, 2020.ALY SONG/Reuters Caterpillar CAT-N reported a higher quarterly profit on Monday, buoyed by strong demand for its excavators and other large construction equipment amid higher infrastructure spending and a rebound in the U.S. residential real estate market. Shares for the Texas-based company were up 6.3 per cent before the bell. Expenditure on heavy machinery remains robust among commercial clients. Dealer inventories fell for the first time in four quarters in an encouraging sign that spending remains resilient helped by...