The company reported second-quarter 2011 profit per share of US$1.72 (£1.05), excluding US$204m (£125m) of expense related to the acquisition of Bucyrus. This was 58% improvement from US$1.09 in the second quarter of 2010.
Including the impact of Bucyrus, profit per share was US$1.52, up 39% from the second quarter of 2010. Profit was US$1.015bn in the second quarter of 2011, an increase of 44% from US$707m in the second quarter of 2010. Sales and revenues of US$14.230bn were up 37% from US$10.409bn a year ago.
“Customer demand around the world continues to improve, and our sales and revenues reached an all-time record in the second quarter. Our employees, dealers and suppliers should feel great about the way they’re responding to the increase in customer demand,” said chairman and chief executive officer Doug Oberhelman. “We’re currently focused on four big themes linked to our corporate strategy. The first is executing the Cat business model and improving value for our customers. We’re doing that in a number of ways—improving quality, executing the Caterpillar Production System and the development of new products and solutions—such as our new range of products for Tier 4 emissions. “
The second theme is increasing capacity and production levels, the third is a focus on costs and the fourth is integrating and delivering the value Caterpillar expects from its recent acquisitions of EMD and Bucyrus.