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
| Aug 11, 2010
Colonnade fixes setback problem in Brooklyn condo project
The New York firm Scarano Architects was brought in by the developers of Olive Park condominiums in the Williamsburg section of Brooklyn to bring the facility up to code after frame out was completed. The architects designed colonnades along the building's perimeter to create the 15-foot setback required by the New York City Planning Commission.
| Aug 11, 2010
Wisconsin becomes the first state to require BIM on public projects
As of July 1, the Wisconsin Division of State Facilities will require all state projects with a total budget of $5 million or more and all new construction with a budget of $2.5 million or more to have their designs begin with a Building Information Model. The new guidelines and standards require A/E services in a design-bid-build project delivery format to use BIM and 3D software from initial ...
| Aug 11, 2010
Opening night close for Kent State performing arts center
The curtain opens on the Tuscarawas Performing Arts Center at Kent State University in early 2010, giving the New Philadelphia, Ohio, school a 1,100-seat multipurpose theater. The team of Legat & Kingscott of Columbus, Ohio, and Schorr Architects of Dublin, Ohio, designed the 50,000-sf facility with a curving metal and glass façade to create a sense of movement and activity.
| Aug 11, 2010
Residence hall designed specifically for freshman
Hardin Construction Company's Austin, Texas, office is serving as GC for the $50 million freshman housing complex at the University of Houston. Designed by HADP Architecture, Austin, the seven-story, 300,000-sf facility will be located on the university's central campus and have 1,172 beds, residential advisor offices, a social lounge, a computer lab, multipurpose rooms, a fitness center, and a...
| Aug 11, 2010
News Briefs: GBCI begins testing for new LEED professional credentials... Architects rank durability over 'green' in product attributes... ABI falls slightly in April, but shows market improvement
News Briefs: GBCI begins testing for new LEED professional credentials... Architects rank durability over 'green' in product attributes... ABI falls slightly in April, but shows market improvement
| Aug 11, 2010
Luxury Hotel required faceted design
Goettsch Partners, Chicago, designed a new five-star, 214-room hotel for the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. The design-build project, with Saudi Oger Ltd. as contractor and Rayadah Investment Co. as developer, has a three-story podium supporting a 17-story glass tower with a nine-story opening that allows light to penetrate the mass of the building.
| Aug 11, 2010
Three Schools checking into L.A.'s Ambassador Hotel site
Pasadena-based Gonzalez Goodale Architects is designing three new schools for Los Angeles Unified School District's Central Wilshire District. The $400 million campus, located on the site of the former Ambassador Hotel, will house a K-5 elementary school, a middle school, a high school, a shared recreation facility (including soccer field, 25-meter swimming pool, two gymnasiums), and a new publ...
| Aug 11, 2010
New Jersey's high-tech landscaping facility
Designed to enhance the use of science and technology in Bergen County Special Services' landscaping programs, the new single-story facility at the technical school's Paramus campus will have 7,950 sf of classroom space, a 1,000-sf greenhouse (able to replicate different environments, such as rainforest, desert, forest, and tundra), and 5,000 sf of outside landscaping and gardening space.