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
Contractors | Aug 14, 2023
Fast-tracking construction projects offers both risk and reward
Understanding both the rewards and risk of fast-tracking a project can help owners, architects, engineers, and contractors maximize the benefits of this strategy and can bring great reward on all fronts when managed properly.
MFPRO+ New Projects | Aug 10, 2023
Atlanta’s Old Fourth Ward gets a 21-story, 162-unit multifamily residential building
East of downtown Atlanta, a new residential building called Signal House will provide the city with 162 units ranging from one to three bedrooms. Located on the Atlanta BeltLine, a former railway corridor, the 21-story building is part of the latest phase of Ponce City Market, a onetime Sears building and now a mixed-use complex.
Office Buildings | Aug 10, 2023
Bjarke Ingels Group and Skanska to deliver 1550 on the Green, one of the most sustainable buildings in Texas
In downtown Houston, Skanska USA’s 1550 on the Green, a 28-story, 375,000-sf office tower, aims to be one of Texas’ most sustainable buildings. The $225 million project has deployed various sustainable building materials, such as less carbon-intensive cement, to target 60% reduced embodied carbon.
Healthcare Facilities | Aug 10, 2023
The present and future of crisis mental health design
BWBR principal Melanie Baumhover sat down with the firm’s behavioral and mental health designers to talk about how intentional design can play a role in combatting the crisis.
Architects | Aug 10, 2023
Hoffmann Architects + Engineers awards first Diversity Advancement Scholarship to Reeja Shrestha of Howard University
Now in its inaugural year, the Hoffmann Scholarship was established in collaboration with the Connecticut Architecture Foundation (CAF) to support students from underrepresented racial or ethnic groups who are seeking degrees in architecture or engineering.
Senior Living Design | Aug 7, 2023
Putting 9 senior living market trends into perspective
Brad Perkins, FAIA, a veteran of more than four decades in the planning and design of senior living communities, looks at where the market is heading in the immediate future.
Higher Education | Aug 7, 2023
Building a better academic workplace
Gensler's David Craig and Melany Park show how agile, efficient workplaces bring university faculty and staff closer together while supporting individual needs.
University Buildings | Aug 7, 2023
Eight-story Vancouver Community College building dedicated to clean energy, electric vehicle education
The Centre for Clean Energy and Automotive Innovation, to be designed by Stantec, will house classrooms, labs, a library and learning center, an Indigenous gathering space, administrative offices, and multiple collaborative learning spaces.
Green | Aug 7, 2023
Rooftop photovoltaic panels credited with propelling solar energy output to record high
Solar provided a record-high 7.3% of U.S. electrical generation in May, “driven in large part by growth in ‘estimated’ small-scale (e.g., rooftop) solar PV whose output increased by 25.6% and accounted for nearly a third (31.9%) of total solar production,” according to a report by the U.S. Energy Information Administration.
Resiliency | Aug 7, 2023
Creative ways cities are seeking to beat urban heat gain
As temperatures in many areas hit record highs this summer, cities around the world are turning to creative solutions to cope with the heat. Here are several creative ways cities are seeking to beat urban heat gain.
