While Cramer Can't Find A 'Milligram Of Hair' That's Positive In CAT's Q2, CEO Remains Optimistic

Caterpillar Inc. CAT disappointed the Street with its second-quarter earnings report earlier on Thursday. The company argued that slow growth in the global economy is hitting the company hard.

CNBC's Jim Cramer was recently seen discussing Caterpillar's results, highlighting how bad the numbers were.

'Not A Line'

"I don't know if anyone could run the company and get better numbers right now," Cramer said. "They bought back a lot of stock incorrectly; they are in all the wrong markets. They represent exactly what's wrong in the world right now. They are China, they are mining, they are minerals, they are oil and gas."

Cramer continued, "I mean, what bothered me here was a construction industry was so bad [...] that was one thing a lot of other people are saying is pretty good. But there isn't a line that I could find in this quarter that I liked – other than the balance sheet is flush. Not a line. Not a wisp. Not a milligram of hair that I could find that I like about this."

Related Link: CAT Goes Splat After 8-K Release

Hope Ahead

While Cramer couldn't find a line in Caterpillar's results this quarter that he liked, Caterpillar CEO Doug Oberhelman is hopeful that things will start turning around soon. Here is what he said when he was on CNBC after the results.

"Well, we have lived by it as well when things are really boiling; we have seen that over the years, and it will happen again at some point," Oberhelman said. "If you look at U.S. right now, there is some hope for infrastructure...we are active in promoting that. Brazil right now is talking about huge infrastructure spending plan to revitalize that economy."

Oberhelman continued, "Typically, that's what's been used. The problem is a lot of these countries and economies are strangled with debt and how they raise the money to get it done. I suspect they will find a way through that.

"We are seeing more states in the United States fund road programs; that's helping us. In fact, we have seen modest growth in the U.S. because of that. So at some point, it will turn," Oberhelman said.