Caterpillar on Thursday reported earnings and revenue that beat expectations, but CEO Doug Oberhelman warned: Don't expect a repeat.
Share prices of the heavy equipment maker were up more than 1 percent Thursday afternoon. (Get the latest quotes here.)
"We saw construction in the U.S. and North America up. And that's the bright spot we have right now," Oberhelman told CNBC. "It's fairly anemic but it's growing ... kind of quarter by quarter."
He said the U.S. economy was growing "fairly slowly" but steadily, while the rest of the world was struggling. "China is down significantly year over year. Brazil is weak economically. Europe is still kind of flat, but in our case, down year over year."
Caterpillar reported earnings of $1.86 a share, which included a 14 cent gain on an asset sale. So the adjusted earnings is $1.72 a share.
Revenue decreased to $12.7 billion from $13.24 billion a year ago.