Caterpillar delivered record-breaking 2011 sales and revenues of $60.14 billion, an increase of 41 percent from $42.59 billion in 2010.
Profit in 2011 was $4.93 billion, an increase of 83 percent from $2.70 billion in 2010. Profit per share of $7.40 was up 78 percent from $4.15 in 2010.
Excluding the impact of the acquisition of Bucyrus International, Inc, 2011 profit was $7.79 per share, up 88 percent from a year ago.
Fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.24 billion, an increase of 35 percent compared with $12.81 billion in the fourth quarter of 2010. Fourth-quarter profit was $1.55 billion compared with $968 million in the fourth quarter of 2010.
“Our strategy is squarely focused on customers, and in 2011 our employees, suppliers and dealers delivered. We improved product quality, invested significantly in manufacturing capacity and product development, and improved our market position,” said Caterpillar chairman and chief executive officer Doug Oberhelman.
“We completed two large acquisitions—Bucyrus and Motoren-Werke Mannheim Holding GmbH (MWM)—in important growth industries that are a great strategic fit and provide our customers an even broader range of products,”
“The 2011 increase in sales and revenues was the largest percentage increase in any year since 1947,” added Oberhelman, “and much of it was driven by demand for Caterpillar products and services outside of the United States. As a result, 2011 was a record-breaking year for US exports at nearly $20 billion, which supported thousands of jobs in the United States, demonstrating the tangible benefits of free trade.”
