31.01.2011

Cat posts 62% rise

Caterpillar has reported its fourth quarter and full year results which show a 62 percent rise in fourth quarter revenues.

Full year numbers revenues came in at $42.58 billion, a more modest 31 percent rise on 2009. Pre-tax profits for the year were $3.75 billion - a full 660 percent increase on the $569 million reported last year.

The full year figures include a 53 percent boost to machine sales (rather than engines or finance) to $27.8 billion. Geographically the largest increases came from South America – up 68 percent and Asia -up 67 percent, while North
America grew by 49 percent and the European region by 36 percent.

Looking at the fourth quarter, sales were $12.8 billion – 62 percent higher than for the same period of 2009, while pre-tax profits climbed almost ten-fold from $128 million to $1.23 billion.

Regionally the fourth quarter sales results were quite surprising, with North American revenues growing by 108 percent and Europe by 88 percent as dealers restocked. Asia was up by 85 percent and South America 59 percent.

Outlook

Caterpillar says that it expects revenues in 2011 to exceed $50 billion – excluding the acquisitions of MWM or Bucyrus with have not yet closed. Growth will come from continued growth in developing countries, along with improving economies in North America and Europe.