Cat reports record profits
- Publishing Date
- 10 Nov 2011 11:11am GMT
- Author
- Mining Magazine
Exploration Processing Loading & Hauling Crushing & Conveying Drilling & Blasting
Caterpillar announced in its third quarter report for 2011 that it has smashed its all-time sales and revenue record.
The company achieved US$15.7 billion sales and revenues– a 41% increase from US$11 billion in the third quarter of 2010.
Sales and revenues excluding the impact of the Bucyrus acquisition were US$14.6 billion– still a 31% increase on the previous year.
Chairman and CEO, Doug Oberhelman commented: “I am pleased with how we’re performing and optimistic about demand for our products, and that is why we are moving forward with needed investment in our business to support our long-term growth opportunities.
“This was the best quarter for sales in our history, and our order backlog is at an all-time high. Excluding Bucyrus impacts, this was also our best profit quarter in history, and year-to-date operating profit as a percent of sales was higher than any full year in more than three decades.”
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