Caterpillar Posts Earnings, Revenue Gains

January 28, 2011

Major U.S. industrial companies are posting sharply higher sales and profits and expect mining and infrastructure-building booms in developing countries to fuel more earnings growth, offsetting sluggishness and tight government spending at home.

On Thursday, Caterpillar Inc., the world's largest maker of construction and mining equipment, said fourth-quarter earnings more than quadrupled from a year earlier, while revenue surged 62%.

Caterpillar, based in Peoria, Ill., predicted record earnings for 2011 and said capital spending is due to nearly double this year to $3 billion as the company gears up for higher demand.


--Wall Street Journal