Driven by outstanding execution and stronger global demand, Caterpillar Inc. delivered record-breaking 2011 sales and revenues of $60.138 billion, an increase of 41 percent from $42.588 billion in 2010. Profit in 2011 was $4.928 billion, an increase of 83 percent from $2.700 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 $17.243 billion, an increase of 35 percent compared with $12.807 billion in the fourth quarter of 2010. Fourth-quarter profit was $1.547 billion compared with $968 million in the fourth quarter of 2010. Profit of $2.32 per share was 58 percent higher than the $1.47 per share 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. 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," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
"The 2011 increase in sales and revenues was the largest percentage increase in any year since 1947, 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 U.S. exports at nearly $20 billion, which supported thousands of jobs in the United States, demonstrating the tangible benefits of free trade. Sales and export growth creates jobs, both in the United States and around the world. Not including acquisitions, our global workforce grew by more than 14,000 in 2011, and since the start of 2010, we have increased our workforce by more than 33,000, with more than 14,000 of those jobs in the United States," Oberhelman added. BD+C
Related Stories
Giants 400 | Sep 18, 2023
Top 200 Office Building Architecture Firms for 2023
Gensler, Stantec, HOK, and Interior Architects top BD+C's ranking of the nation's largest office building sector architecture and architecture/engineering (AE) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking includes revenue for all office building work, including core and shell projects and workplace/interior fitouts.
Resort Design | Sep 18, 2023
Luxury resort provides new housing community for its employees
The Wisteria community will feature a slew of exclusive amenities, including a market, pub, and fitness center, in addition to 33 new patio homes.
Life of an Architect Podcast | Sep 18, 2023
Life of an Architect Podcast Ep. 134: Management 101
It happens to most people eventually. Some get there quickly, while others take a bit longer. Transitioning into a management role is a natural evolution of skill development, but that doesn’t necessarily make it any easier. Chances are you’re ready for management, but in case you’ve questions, we think we have answers.
Hotel Facilities | Sep 15, 2023
The next phase of sustainability in luxury hotels
The luxury hotel market has seen an increase in green-minded guests looking for opportunities to support businesses that are conscientious of the environment.
Adaptive Reuse | Sep 15, 2023
Salt Lake City’s Frank E. Moss U.S. Courthouse will transform into a modern workplace for federal agencies
In downtown Salt Lake City, the Frank E. Moss U.S. Courthouse is being transformed into a modern workplace for about a dozen federal agencies. By providing offices for agencies previously housed elsewhere, the adaptive reuse project is expected to realize an annual savings for the federal government of up to $6 million in lease costs.
Data Centers | Sep 15, 2023
Power constraints are restricting data center market growth
There is record global demand for new data centers, but availability of power is hampering market growth. That’s one of the key findings from a new CBRE report: Global Data Center Trends 2023.
Engineers | Sep 15, 2023
NIST investigation of Champlain Towers South collapse indicates no sinkhole
Investigators from the National Institute of Standards and Technology (NIST) say they have found no evidence of underground voids on the site of the Champlain Towers South collapse, according to a new NIST report. The team of investigators have studied the site’s subsurface conditions to determine if sinkholes or excessive settling of the pile foundations might have caused the collapse.
Office Buildings | Sep 14, 2023
New York office revamp by Kohn Pedersen Fox features new façade raising occupant comfort, reducing energy use
The modernization of a mid-century Midtown Manhattan office tower features a new façade intended to improve occupant comfort and reduce energy consumption. The building, at 666 Fifth Avenue, was originally designed by Carson & Lundin. First opened in November 1957 when it was considered cutting-edge, the original façade of the 500-foot-tall modernist skyscraper was highly inefficient by today’s energy efficiency standards.
Healthcare Facilities | Sep 13, 2023
Florida’s first freestanding academic medical behavioral health hospital breaks ground in Tampa Bay
Construction kicked off recently on TGH Behavioral Health Hospital, Florida’s first freestanding academic medical behavioral health hospital. The joint venture partnership between Tampa General (a 1,040-bed facility) and Lifepoint Behavioral Health will provide a full range of inpatient and outpatient care in specialized units for pediatrics, adolescents, adults, and geriatrics, and fills a glaring medical need in the area.
Adaptive Reuse | Sep 13, 2023
Houston's first innovation district is established using adaptive reuse
Gensler's Vince Flickinger shares the firm's adaptive reuse of a Houston, Texas, department store-turned innovation hub.
