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
Designers | Oct 1, 2024
Global entertainment design firm WATG acquires SOSH Architects
Entertainment design firm WATG has acquired SOSH Architects, an interior design and planning firm based in Atlantic City, N.J.
Higher Education | Sep 30, 2024
Studio Gang turns tobacco warehouse into the new home of the University of Kentucky’s College of Design
Studio Gang has completed the Gray Design Building, the new home of the University of Kentucky’s College of Design. In partnership with K. Norman Berry Associates Architects, Studio Gang has turned a former tobacco warehouse into a contemporary facility for interdisciplinary learning and collaboration.
Warehouses | Sep 27, 2024
California bill would limit where distribution centers can be built
A bill that passed the California legislature would limit where distribution centers can be located and impose other rules aimed at reducing air pollution and traffic. Assembly Bill 98 would tighten building standards for new warehouses and ban heavy diesel truck traffic next to sensitive sites including homes, schools, parks and nursing homes.
Laboratories | Sep 27, 2024
Traditional lab design doesn't address neurodiverse needs, study finds
A study conducted by ARC, HOK, and the University of the West of Scotland, has revealed that half (48.1%) of all survey respondents who work in laboratory settings identify as neurodivergent.
Laboratories | Sep 26, 2024
BSL conversions: A cost-efficient method to support high-containment research
Some institutions are creating flexible lab spaces that can operate at a BSL-2 and modulate up to a BSL-3 when the need arises. Here are key aspects to consider when accommodating a rapid modulation between BSL-2 and BSL-3 space.
MFPRO+ News | Sep 24, 2024
Major Massachusetts housing law aims to build or save 65,000 multifamily and single-family homes
Massachusetts Gov. Maura Healey recently signed far-reaching legislation to boost housing production and address the high cost of housing in the Bay State. The Affordable Homes Act aims to build or save 65,000 homes through $5.1 billion in spending and 49 policy initiatives.
Designers | Sep 20, 2024
The growing moral responsibility of designing for shade
Elliot Glassman, AIA, NCARB, LEED AP BD+C, CPHD, Building Performance Leader, CannonDesign, makes the argument for architects to consider better shade solutions through these four strategies.
Mixed-Use | Sep 19, 2024
A Toronto development will transform a 32-acre shopping center site into a mixed-use urban neighborhood
Toronto developers Mattamy Homes and QuadReal Property Group have launched The Clove, the first phase in the Cloverdale, a $6 billion multi-tower development. The project will transform Cloverdale Mall, a 32-acre shopping center in Toronto, into a mixed-use urban neighborhood.
Codes and Standards | Sep 19, 2024
Navigating the intricacies of code compliance and authorities having jurisdiction
The construction of a building entails navigating through a maze of regulations, permits, and codes. Architects are more than mere designers; we are stewards of safety and navigators of code compliance.
Higher Education | Sep 18, 2024
Modernizing dental schools: The intersection of design and education
Page's John Smith and Jennifer Amster share the how firm's approach to dental education facilities builds on the success of evidence-based design techniques pioneered in the healthcare built environment.
