CAT Sees 2012 Revenue Of At Least $63.8B
PEORIA, Ill. (AP) — Caterpillar Inc. said it expects 2012 revenue of roughly $63.8 billion to $69.6 billion, and it reaffirmed its full-year 2011 guidance on Wednesday.
The world's largest maker of construction and mining equipment said it expects a 2011 profit of about $6.75 per share on revenue of $58 billion, the same guidance it gave in October.
It also said it expects 2012 revenue to rise by 10 percent to 20 percent, "based on improving but slow growth in the developed parts of the world with continuing improvement in sales from what are currently low levels."
Analysts surveyed by FactSet had been expecting 2012 revenue of $67.22 billion. Caterpillar said it will provide more detailed 2012 guidance when it reports results in late January.
The company also said on Wednesday that it will pay a dividend of 46 cents per share on Feb. 18 to shareholders of record on Jan. 20.
Shares fell $4.21, or 4.6 percent, to $86.80 in afternoon trading.