Caterpillar predicts increased sales and "headwinds" in 2011

10/21/2010 | Bloomberg Businessweek

Caterpillar posted earnings for the third quarter that exceeded analysts' expectation. Net income reached $792 million, or $1.22 a share, topping a prediction of $1.09 per share. Sales increased 53% to $11.1 billion, compared with $7.3 billion during the same period last year. Caterpillar expects next year's sales to "approach" $50 billion, compared with $41 billion to $42 billion this year. However, the company expects cost "headwinds" from pensions, retirees' health benefits, research and development, and taxes.

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