Tags: US | Earns | Caterpillar

Caterpillar Profit Soars 96 Percent on Emerging Markets Growth

Thursday, 21 Oct 2010 08:20 AM

Strong sales growth in developing countries pushed Caterpillar's third-quarter earnings 96 percent higher.

The world's largest maker of mining and construction equipment boosted its outlook for 2010 and predicted more growth next year.

Caterpillar said Thursday that it earned $792 million net income, or $1.22 per share, in the third quarter. That's well above the $404 million, or 64 cents per share, the Peoria, Ill., company reported last year.

The company, whose sales are considered a strong indicator of global economic health, says revenue jumped 53 percent to $11.13 billion.

Caterpillar easily beat expectations of $1.09 earnings per share on revenue of $10.48 billion.

Caterpillar now expects to earn between $3.80 and $4 per share in 2010. Previously, it predicted earnings between $3.15 and $3.85 per share.

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Strong sales growth in developing countries pushed Caterpillar's third-quarter earnings 96 percent higher. The world's largest maker of mining and construction equipment boosted its outlook for 2010 and predicted more growth next year. Caterpillar said Thursday that it...
US,Earns,Caterpillar
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2010-20-21
Thursday, 21 Oct 2010 08:20 AM
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