NEW YORK (S&P Global Ratings) April 29, 2021--S&P Global Ratings today said that Caterpillar Inc.'s (A/Stable/A-1) reported first-quarter 2021 results were consistent with our expectations for a good top-line performance. The company's revenue rose by 12% year over year and its operating profit increased by 29%. As we anticipated, dealer restocking provided a solid tailwind to Caterpillar's results for the quarter. While the performances of all of the company's segments improved, its Construction Industries business was particularly strong and expanded its sales by 27% in the quarter. Similar to the other industrial companies we rate, we believe increased supply chain costs will be a headwind to incremental margins this year. Caterpillar's revenue from its Machinery, Energy&Transportation business improved
