CAT Breaks Earnings Record

By WEEK Reporter

CAT Breaks Earnings Record

October 24, 2011 Updated Oct 24, 2011 at 1:10 PM CDT

Caterpillar's 3rd quarter earnings numbers have just been released Monday, and there is lots of black for Big Yellow.

The company reports that third quarter profit was $1.141 billion, an increase of 44% from the 3rd quarter of 2010.

Sales and revenues of just more than $15.7 billion were up 41% over the third quarter of last year.

Those sales and revenue numbers are an all-time record for the company.

CAT spokesman Jim Dugan says that's thanks to keeping up with a higher worldwide demand.

 

 Caterpillar also reported that it added 2,000 jobs in America.

And Jim Dugan says sales and revenues are expected to be up 10% to 20% in 2012.

 

"The demand is something we really can't control," said Dugan. "The execution is where the employees come in, and that's where we've done a pretty good job so far this year. Still three months to go, but on pace for what will be an all-time record for 2011 for Caterpillar, and that's a good thing."