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Caterpillar Affirms Profit Goals For 2012

Wed August 25, 2010 - National Edition
Josh Funk - AP BUSINESS WRITER



Heavy equipment maker Caterpillar Inc. is affirming its long-term goals, and officials say the economy has been improving this year.

New CEO Doug Oberhelman and other executives met with analysts Aug. 19 in New York and discussed the opportunities ahead for the world’s largest maker of construction and mining equipment.

Company officials reiterated that Caterpillar wants to grow its annual earnings per share by 15 to 20 percent. And the company’s goal is to deliver earnings per share of $8 to $10 in 2012 on sales of $55 to $60 billion.

Chief Financial Officer Ed Rapp said 2010 has been a year of recovery since the economy bottomed out in August or September, with the developing world leading the way in growth.