Caterpillar Inc. (CAT, Financial) filed Quarterly Report for the period ended 2010-06-30.
Caterpillar Inc. has a market cap of $43.6 billion; its shares were traded at around $69.4 with a P/E ratio of 27.4 and P/S ratio of 1.4. The dividend yield of Caterpillar Inc. stocks is 2.5%. Caterpillar Inc. had an annual average earning growth of 5% over the past 10 years.CAT is in the portfolios of Eric Mindich of Eton Park Capital Management, L.P., Bill Gates of Bill & Melinda Gates Foundation Trust, Kenneth Fisher of Fisher Asset Management, LLC, PRIMECAP Management, Tom Gayner of Markel Gayner Asset Management Corp, Pioneer Investments, Dodge & Cox, John Buckingham of Al Frank Asset Management, Inc., Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Murray Stahl of Horizon Asset Management, NWQ Managers of NWQ Investment Management Co, Richard Aster Jr of Meridian Fund, Bill Frels of Mairs & Power Inc. , Manning & Napier Advisors, Inc.
Profit per share for the six months ended June 30, 2010 was $1.46 per share, an increase of $1.04 per share from a profit of $0.42 per share for the six months ended June 30, 2009. Profit of $940 million was 263 percent higher than profit of $259 million for the six months ended June 30, 2009. Sales and revenues for the six months ended June 30, 2010 were $18.647 billion, up $1.447 billion, or 8 percent, from the six months ended June 30, 2009.
Sales and revenues were up $2.434 billion from the second quarter of 2009. Sales volume improved $2.259 billion, price realization was favorable $187 million, and the impact of currency added $23 million. Financial Products revenues were down $35 million. Profit was up $336 million from the second quarter of 2009. The increase was primarily the result of higher sales volume, improved operating efficiencies and favorable price realization, partially offset by higher taxes, provisions for incentive compensation and the absence of $110 million of LIFO inventory decrement benefits from the second quarter of 2009.
We have improved our outlook for 2010 by raising the sales and revenues range and increasing profit expectations. Sales and revenues are now expected to be in a range of $39 to $42 billion, with a midpoint of $40.5 billion. The increased 2010 profit outlook is a range of $3.15 to $3.85 per share, with a midpoint of $3.50 per share. The previous sales and revenues outlook was a range of $38 to $42 billion, and the previous profit outlook range was $2.50 to $3.25 per share.
Sales and revenues for the second quarter of 2010 were $10.409 billion, up $2.434 billion, or 31 percent, from the second quarter of 2009. Machinery sales volume was up $2.232 billion due to the absence of dealer inventory reductions that occurred in the second quarter of 2009 and higher end-user demand. Engines volume increased $27 million. Price realization improved $187 million, and currency had a positive impact on sales of $23 million. Financial Products revenues decreased $35 million.
Engines Sales Sales were $2.990 billion, an increase of $74 million, or 3 percent, from the second quarter of 2009.
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Caterpillar Inc. has a market cap of $43.6 billion; its shares were traded at around $69.4 with a P/E ratio of 27.4 and P/S ratio of 1.4. The dividend yield of Caterpillar Inc. stocks is 2.5%. Caterpillar Inc. had an annual average earning growth of 5% over the past 10 years.CAT is in the portfolios of Eric Mindich of Eton Park Capital Management, L.P., Bill Gates of Bill & Melinda Gates Foundation Trust, Kenneth Fisher of Fisher Asset Management, LLC, PRIMECAP Management, Tom Gayner of Markel Gayner Asset Management Corp, Pioneer Investments, Dodge & Cox, John Buckingham of Al Frank Asset Management, Inc., Steven Cohen of SAC Capital Advisors, Jeremy Grantham of GMO LLC, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Murray Stahl of Horizon Asset Management, NWQ Managers of NWQ Investment Management Co, Richard Aster Jr of Meridian Fund, Bill Frels of Mairs & Power Inc. , Manning & Napier Advisors, Inc.
Highlight of Business Operations:
We reported a second-quarter 2010 profit of $1.09 per share, an increase of $0.49 per share from a profit of $0.60 per share in the second quarter of 2009. Profit of $707 million was 91 percent higher than second-quarter 2009 profit of $371 million. Sales and revenues of $10.409 billion were up 31 percent from $7.975 billion in the second quarter of 2009.Profit per share for the six months ended June 30, 2010 was $1.46 per share, an increase of $1.04 per share from a profit of $0.42 per share for the six months ended June 30, 2009. Profit of $940 million was 263 percent higher than profit of $259 million for the six months ended June 30, 2009. Sales and revenues for the six months ended June 30, 2010 were $18.647 billion, up $1.447 billion, or 8 percent, from the six months ended June 30, 2009.
Sales and revenues were up $2.434 billion from the second quarter of 2009. Sales volume improved $2.259 billion, price realization was favorable $187 million, and the impact of currency added $23 million. Financial Products revenues were down $35 million. Profit was up $336 million from the second quarter of 2009. The increase was primarily the result of higher sales volume, improved operating efficiencies and favorable price realization, partially offset by higher taxes, provisions for incentive compensation and the absence of $110 million of LIFO inventory decrement benefits from the second quarter of 2009.
We have improved our outlook for 2010 by raising the sales and revenues range and increasing profit expectations. Sales and revenues are now expected to be in a range of $39 to $42 billion, with a midpoint of $40.5 billion. The increased 2010 profit outlook is a range of $3.15 to $3.85 per share, with a midpoint of $3.50 per share. The previous sales and revenues outlook was a range of $38 to $42 billion, and the previous profit outlook range was $2.50 to $3.25 per share.
Sales and revenues for the second quarter of 2010 were $10.409 billion, up $2.434 billion, or 31 percent, from the second quarter of 2009. Machinery sales volume was up $2.232 billion due to the absence of dealer inventory reductions that occurred in the second quarter of 2009 and higher end-user demand. Engines volume increased $27 million. Price realization improved $187 million, and currency had a positive impact on sales of $23 million. Financial Products revenues decreased $35 million.
Engines Sales Sales were $2.990 billion, an increase of $74 million, or 3 percent, from the second quarter of 2009.
Read the The complete Report
