Caterpillar (CAT) Reaffirms 2011 and 2012 Outlook
Tweet
Share
E-mailGet Alerts CAT Hot Sheet
Price: $815.39 --0%
Financial Fact:
Interest expense of Financial Products: 147M
Today's EPS Names:
COE, BEKE, BJ, More
Financial Fact:
Interest expense of Financial Products: 147M
Today's EPS Names:
COE, BEKE, BJ, More
Join SI Premium – FREE
The Board of Directors of Caterpillar Inc. (NYSE: CAT) today announced it is reaffirming its outlook for the remainder of 2011 and for 2012.
"As we come to the close of 2011, I am pleased with Caterpillar's strong and steady performance during a year that has had many ups and downs in the global economy," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. "In this environment, we have continued to increase wealth for our stockholders, while strengthening our financial position and improving cash flow. At the same time, we have announced a series of key investments to position Caterpillar for long-term growth," Oberhelman added.
"Across the company this year, we have remained focused on our objectives and that gives us confidence in our ability to deliver on our business goals for 2011. Combined with our belief in our 2015 strategic plan, today we are reaffirming our outlook," Oberhelman said.
2011 sales and revenues are expected to be about $58 billion. The 2011 outlook includes about $2 billion in Bucyrus sales. Excluding the impact of the Bucyrus acquisition, we expect sales and revenues will be about $56 billion in 2011. We expect 2011 profit of about $6.75 per share. The outlook includes a negative impact from the acquisition of Bucyrus of about $0.50 per share, which is unchanged from the previous outlook. Excluding the impact of Bucyrus, we expect 2011 profit of about $7.25 per share. We are close to finalizing our business plans for 2012, and in late January when we issue our full-year results for 2011, we will issue a more detailed 2012 outlook.
The preliminary outlook for 2012 sales and revenues is based on improving but slow growth in the developed parts of the world with continuing improvement in sales from what are currently low levels. We expect sales and revenues to improve 10 to 20 percent from the 2011 outlook of about $58 billion. The 2012 outlook includes a full year of Bucyrus-related sales of about $5 billion, up from a partial year of about $2 billion in 2011.
"As we come to the close of 2011, I am pleased with Caterpillar's strong and steady performance during a year that has had many ups and downs in the global economy," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. "In this environment, we have continued to increase wealth for our stockholders, while strengthening our financial position and improving cash flow. At the same time, we have announced a series of key investments to position Caterpillar for long-term growth," Oberhelman added.
"Across the company this year, we have remained focused on our objectives and that gives us confidence in our ability to deliver on our business goals for 2011. Combined with our belief in our 2015 strategic plan, today we are reaffirming our outlook," Oberhelman said.
2011 sales and revenues are expected to be about $58 billion. The 2011 outlook includes about $2 billion in Bucyrus sales. Excluding the impact of the Bucyrus acquisition, we expect sales and revenues will be about $56 billion in 2011. We expect 2011 profit of about $6.75 per share. The outlook includes a negative impact from the acquisition of Bucyrus of about $0.50 per share, which is unchanged from the previous outlook. Excluding the impact of Bucyrus, we expect 2011 profit of about $7.25 per share. We are close to finalizing our business plans for 2012, and in late January when we issue our full-year results for 2011, we will issue a more detailed 2012 outlook.
The preliminary outlook for 2012 sales and revenues is based on improving but slow growth in the developed parts of the world with continuing improvement in sales from what are currently low levels. We expect sales and revenues to improve 10 to 20 percent from the 2011 outlook of about $58 billion. The 2012 outlook includes a full year of Bucyrus-related sales of about $5 billion, up from a partial year of about $2 billion in 2011.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Flowers Foods (FLO) Misses Q2 EPS by 3c; Offers Guidance
- Caterpillar Expands Workforce Initiative to Arkansas to Strengthen Pathways to Manufacturing Careers
- Nordson Corp. (NDSN) Tops Q3 EPS by 16c; Offers Guidance
Create E-mail Alert Related Categories
GuidanceSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
