PEORIA, Ill.— Despite economic and political uncertainty in the United States, continued economic turmoil in much of Europe and slower growth in China, Caterpillar Inc. (NYSE: CAT) today announced 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.
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 an operational standpoint, 2012 was a very successful year with record sales and profit in a tough economic climate. Considering the weak economy in the United States, along with much of Europe in recession and China slowing, we had a solid year. Our incremental operating profit pull through was very good, we made progress adjusting inventory levels, and our quality and safety indicators continued to improve,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
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Earlier this year we highlighted the opportunity of selling and exporting machinery and equipment to South America, primarily Brazil. Many loyal readers contacted the sales team asking for more information on this hot topic, and whilst we are still compiling a definitive report, below is an insight into what we have ascertained to date.
For those wishing to sell machinery and construction equipment to Latin-American countries, the market is shrouded in some mystery as to what is acceptable and what is not, plus there are a number of market rumours about how to trade within the sector. Some say import restrictions are open to interpretation and certain criteria exists, however, from what Resale Weekly has ascertained the protocol says: Machines and models not available or manufactured in South America can be imported; Machinery used in the mining industry can be imported into South America; Machinery may be manufactured in the country or region, with global business partners, exemplified by JCB establishing its large assembly plant in Brazil.
The South American economy is extremely buoyant with international trade figures for 2011 showing Brazil achieving +5.1% sustained growth, coming a strong second behind Asia at +7.1%. The Middle East & Africa achieved +3.5%; South America +3.2%; Eastern Europe +2.5%; North America +2.0%; and Western Europe -0.5%. This strong Brazilian growth has helped it become the World’s sixth largest economy by nominal GDP and it’s widely expected to rise to fifth position in that table by the end of 2012.
Brazil is also one of the Worlds fastest growing markets for construction equipment, with 15% current annual projected growth. Large scale infrastructure projects underway include the construction of 5000 km of highways, while significant residential projects and various major sporting events (FIFA World Cup 2014 and Olympic Games 2016) coming to the country over the next few years are only going to add to this. Read More…
Big opportunity for mining industry: selection of equipment for the September 27, 2012 auction includes 80+ crawler tractors, 30+ rock trucks, 30+ wheel loaders and more!
First time world’s largest industrial auctioneer sells 60+ D11 crawler tractors in one auction; more D11′s than the Company has sold in past four years combined.
RALEIGH-DURHAM, NC, Aug. 1, 2012 /CNW/ – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, will conduct a massive mining and earthmoving equipment auction on September 27, 2012 during the Company’s grand opening auction at its new permanent auction site in Raleigh-Durham, North Carolina. More than 180 pieces of mining and earthmoving equipment are already featured in the auction, including more than 60 Caterpillar D11 crawler tractors, more than 35 Caterpillar 777 rock trucks, more than 30 wheel loaders and more—selections so large that they’re rarely seen in the heavy equipment industry in a single sale. The September 27 unreserved public auction, which is set to take place one day after the completion of MINExpo International 2012 in Las Vegas, is a divestiture of non-strategic equipment from West Virginia based Trinity Coal Corporation. Bidders can register and bid in one of four ways: live and in person at the Company’s Raleigh-Durham, NC auction site; via simulcast and in person at the Company’s Las Vegas, NV auction site; online in real time at www.rbauction.com; or by proxy. Read More…
The world’s largest industrial auctioneer conducted two multi-million dollar unreserved public auctions this week in Brisbane, QLD and Geelong, VIC
BRISBANE, Australia, June 29, 2012 /CNW/ – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, sold more than AU$61 million of heavy equipment and trucks at two Australian unreserved public auctions this week in Brisbane, QLD (June 26) and Geelong, VIC (June 28). In total, more than 1,800 heavy equipment items and trucks were sold in the two auctions, including hydraulic excavators, wheel loaders, crawler tractors, articulated dump trucks, prime movers and more—every item in both auctions was sold to the highest bidder on auction day, with no minimum bids or reserve prices. Bids were made in the auctions on site, online in real time at www.rbauction.com or by proxy.
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First-Quarter Sales and Revenues Increase 23 Percent, Profit Per Share Up 29 Percent
PEORIA, Ill. — Growth in mining, strong replacement demand for products in the United States and a continued focus on cost management helped Caterpillar Inc. (NYSE: CAT) deliver record quarterly profit per share of $2.37 in the first quarter of 2012. This represents an increase of 29 percent from first-quarter 2011 profit per share of $1.84. First-quarter 2012 sales and revenues of $15.981 billion were up 23 percent from $12.949 billion in the first quarter of 2011. Profit was a record $1.586 billion in the quarter, an increase of 29 percent from $1.225 billion in the first quarter of 2011.
“These outstanding results demonstrate our continued focus on execution and controlling costs as we increase production and expand capacity to meet increasing demand from our customers. We’re seeing strong global demand for most mining products and significant growth in replacement demand for products in the United States, which more than offset slowing in China and Brazil,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. “During the quarter, I visited Caterpillar facilities, customers, suppliers and dealers around the world, and saw firsthand the progress we are making on safety, product quality, improved delivery times, factory efficiencies and customer service. These improvements have been impressive considering they’ve occurred while we have so much going on—we are building new facilities, expanding existing facilities, integrating acquisitions and continuing the introduction of new products,” Oberhelman added.
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Since the very first INTERMAT show in 1988, Resale Weekly has attended every event, without fail and INTERMAT 2012 will be no exception. This international exhibition of equipment, machinery and construction materials is seen as the key event for the industry. Held once every three years INTERMAT 2012 is sure to be a firm favourite on this year’s events calendar for all buyers and sellers of machinery around the globe. With over 200,000 international visitors expected and over 1,500 exhibitions in one place, this is THE EVENT to attend this year.
At INTERMAT 2012 Resale Weekly will be showcasing its new technology on Stand G 020 in Hall 6 (UK Pavilion) between Monday 16 and Saturday 21 April 2012. Come and meet the team and view the latest technology advances from the leading machinery sales magazine both online and offline.
Find us on Facebook and Join the event : facebook/resaleweekly
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STOP PRESS
Do you have equipment to sell? Yes? Then the INTERMAT issue of Resale Weekly is the one to advertise in. Contact us now? We’ve have a few pages available for this special issue being distributed during show – so why not book your slot and get your equipment in front of people that are looking to buy!
Visit www.resaleweekly.com for more information or contact our sales team on sales@resaleweekly.com +44 0208 471 8221
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Another chapter in the online publishing revolution has just been written by Moffat Consulting & Technology, the publishers of Resale Weekly after signing a long-term syndication agreement with Caterpillar Inc to deliver its new or used equipment information globally through a specially developed portal and a CatUsed iPhone application.
Already the world’s leading journal for construction plant, commercial vehicles and equipment, Resale Weekly recently extended its activities into building dynamic websites and the latest interactive mobile applications for the iPhone and other smartphones.
The new interactive applications move Caterpillar Inc, the world’s leading manufacturer of construction and mining equipment, to the next level, enabling them to more effectively manage their online marketing strategies and provide users with immediate access to performance listings as well as extensive information from across the global Caterpillar Dealer Network.
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Caterpillar Inc. (NYSE: CAT) today announced sales and revenues of $42.588 billion for 2010, an increase of 31 percent from $32.396 billion in 2009. Profit in 2010 was $2.700 billion, an increase of 202 percent from 2009 profit of $895 million. Profit per share of $4.15 was up from $1.43 in 2009.
Excluding redundancy costs, profit per share in 2009 was $2.18.
Fourth-quarter sales and revenues were $12.807 billion, an increase of 62 percent compared with $7.898 billion in the fourth quarter of 2009. Fourth-quarter profit of $968 million was 317 percent higher than profit of $232 million in the fourth quarter of 2009. Profit per share of $1.47 was up from $0.36 per share in the fourth quarter of 2009. Excluding redundancy costs, profit for the fourth quarter of 2009 was $0.41 per share.
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