“This was the best quarter for sales in our history, and our order backlog is at an all-time high,” said Chairman and Chief Executive Officer Doug Oberhelman, in a statement''
Caterpillar cashes in on rising metal prices
Order backlog reaches $28.6 billion, up 64% from a year ago
WASHINGTON (MarketWatch) — Rising precious-metal prices helped Caterpillar Inc. to more than double its mining-equipment sales in the third quarter and lift its order backlog to a record level, results showed Monday.
For 2012, Peoria, Ill.-based Caterpillar predicted growth in developing markets to be similar to 2011, making for another year of strong earnings with sales up 10% to 20% from an anticipated $58 billion this year