Caterpillar bullish on 2012 prospects
Oct 25, 2011 | 05:52 PM
| Corinna Petry
Tags
Caterpillar,
mining,
construction,
locomotives,
Corinna Petry
CHICAGO — Caterpillar Inc. expects to log a strong finish to 2011 in terms of orders and backlogs, and that renewed demand strength is forecast to push into the New Year.
"For 2012, we expect our total sales and revenues to be up 10 to 20 percent from the outlook for 2011 of $58 billion," Mike DeWalt, director of investor relations, said during the company’s third-quarter earnings conference call.
"That is based on our view that the developed countries of the world will continue to grow in 2012 a little bit better than 2011, but at a slow rate and below their potential. In the U.S., we still expect continuing poor housing. We are also not factoring in any new highway build, but we are encouraged that it seems to be gaining some traction in Washington," DeWalt said, referring to the proposed passage of a two-year reauthorization of the highway bill.....
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