Cat: 2012 record sales, revenues up 10 percent to $65 billion
Despite economic and political uncertainty, Caterpillar Inc. on Jan. 28 has reported record 2012 sales and revenues of $65.875 billion, an increase of 10 percent from $60.138 billion in 2011.
Profit per share of $8.48 was also an all-time record, including the impact of the previously announced goodwill impairment charge of $0.87 per share related to Siwei . The 2012 profit per share of $8.48 was up 15 percent from $7.40 in 2011. Profit was $5.681 billion, an increase of 15 percent from $4.928 billion in 2011, according to Cat.
Fourth-quarter 2012 sales and revenues were $16.075 billion, down $1.168 billion from $17.243 billion in the fourth quarter of 2011. The impact of changes in dealer new machine inventories lowered sales by about $1.4 billion as dealers reduced inventories about $600 million in the fourth quarter of 2012, compared with an increase of about $800 million in the fourth quarter of 2011.
Fourth-quarter 2012 profit was $697 million compared with $1.547 billion in the fourth quarter of 2011. Profit was $1.04 per share in the fourth quarter of 2012 compared with profit per share of $2.32 in the fourth quarter of 2011. Fourth-quarter 2012 profit was negatively impacted by the previously announced goodwill impairment charge of $580 million, or $0.87 per share. Lower sales and revenues and the cost impact from sharply lower production and the $2 billion decline in Caterpillar inventory also had a negative impact on fourth-quarter profit. Those impacts were partially offset by a $300 million positive impact related to the settlement of prior-year tax returns.
From our partners
Sandvik Construction’s extensive range of rock tools are world renowned for combining advanced materials technology, with skillful design focusing on…
MORE FROM Manufacturers News
SUBSCRIBE & FOLLOW
- Mummified human remains found at the site of a planned quarry in Indiana1159 Views
- MSHA rolls out new Part 50 training program585 Views
- Caterpillar splits with Navistar, will design and build its own vocational trucks in Texas360 Views
- Senate DRIVE Act is a six-year transportation bill with three-year Highway Trust Fund financing guarantee289 Views
- MSHA highlights second quarter metal/non-metal accidents279 Views