Caterpillar Reports Good Q3 2012, But ...

Tuesday, October 23, 2012

Caterpillar Inc. announces strong improvement in its Third-Quarter 2012 results, but outlook not so bright.

Caterpillar Inc. announce third-quarter 2012 sales and revenues of $16.445 billion, a 5-percent increase from third-quarter 2011 sales and revenues of $15.716 billion. 

“Last quarter and then again a month ago at MINExpo, we discussed economic and geopolitical headwinds facing the world, and we are certainly continuing to see the impact of those uncertainties in our business,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.  “Even so, we had a record third quarter, and our entire organization is focused on finishing 2012 as the best year for sales and profit in our history”

2012 Outlook
"We now expect 2012 sales and revenues to be about $66 billion and profit in a range of $9.00 to $9.25 per share.  The previous outlook for sales and revenues was a range of $68 to $70 billion with profit of about $9.60 per share at the middle of the sales and revenues outlook range."

"

The decline in the sales and revenues outlook reflects global economic conditions that are weaker than we had previously expected.  In addition, Cat dealers have lowered order rates well below end-user demand to reduce their inventories.  Production across much of the company has been lowered, resulting in temporary shutdowns and layoffs.  Lower production will continue until inventories and dealer order rates move back in line with dealer deliveries to end users.  The reduction in the profit outlook is in line with the lower sales and revenues outlook, partially offset by the gain on the sale of a majority interest in our third party logistics business.
"

Preliminary 2013 Sales and Revenues Outlook


"From an economic standpoint, we are expecting slightly better world growth in 2013 with modest improvement in the United States, China and most of the developing world, but continuing difficulty in Europe.  Based on our economic forecast, our preliminary outlook for 2013 is for sales and revenues to be about the same as 2012 in a range of up 5 percent to down 5 percent."


Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Reftrade Upgrades Fleet Refrigeration Systems

Reftrade UK  has made an investment  to upgrade its fleet with environmentally friendly technology. The world’s first refrigeration system to use CO2 as a natural refrigerant,

ClassNK Reports Record 2014

Announcing its registration totals for 2014, ClassNK said 833 new vessels with a combined total of 21,466,272 gt joined its register over the course of the year,

GE Launches GE Marine Organization

GE unveils GE Marine organization to power, propel and position the global marine industry   GE unveiled today its new GE Marine organization which cumulates

Finance

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

Wartsila Sees Low Oil Price Impacting Shipping

CEO cautious on 2015 outlook. Finnish ship engine and power plant maker Wartsila reported a smaller-than-expected quarterly profit and warned lower crude prices

China Watching Greece After Port Sale Shelved

China is closely monitoring the policies of the new Greek government after Athens said this week it will stop the sale of a majority stake in Greece's biggest port,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4342 sec (2 req/sec)