Caterpillar chairman and CEO Jim Owens last week told a group of financial analysts and institutional stockholders that the company expects to pass $50 billion in annual sales by 2010, with profit per share growth in the range of 15 to 20 percent annually through that year. It expects strong cash flow through the end of the decade to fund continued growth.
“The Caterpillar outlook is positive and our expectations for the world economy support continued strength in most of the key industries we serve,” Owens said. “2006 is expected to be the fourth consecutive year of double-digit profit growth, and the third consecutive year of record sales and profit. Our preliminary outlook for 2007 reflects another positive year with sales and revenues flat to up 5 percent and profit per share flat to 10 percent higher than 2006.”
Owens said Caterpillar plans a strong internal focus on safety, quality and velocity with implementation of the Caterpillar production system.Caterpillar is based in Peoria, Ill.