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The profit of Caterpillar grew with 44% in Q3 2011

Caterpillar Inc exceeded analysts' expectations after today reported profit growth for the third quarter by 44% and record earnings, showing a moderate optimism about the outlook for sales in 2012. The Illinois-based company said net profit of 1.14 billion USD or 1.71 USD per share, while during the same period of 2010 indicators were respectively 792 million USD and 1.22 USD per share. The forecasts of analysts was for earnings of 1.54 USD per share. The sales rose 41% to 15.7 billion USD. Caterpillar expects its revenue and profit for 2011 to be at the top of the range of its previous forecast because of strong demand. For 2012, revenue is forecast to increase by between 10% and 20% more than expected this year to 58 billion USD in the previous forecast between 56 billion USD and 58 billion USD. The expected annual profit of 6.75 USD per share for 2011 under previous forecast between 6.25 USD and 6.75 USD per share. If you include the acquisition of Bucyrus, the profit for this year could reach 7.25 USD per share. The company has opened 4,800 new jobs in the third quarter, including 2,000 in the U.S.. Caterpillar remains cautious about the international economy.
"Although there is a satisfactory deal with the economic and political uncertainty in the world has not seen them very much in our business", said the CEO Doug Oubarhelman company. "We believe that continued economic recovery, albeit slowly, is the most likely scenario in our movement forward", he added.