Caterpillar reveals fourth quarter sales results

By Andy Brown28 January 2022

Caterpillar, the world’s biggest construction OEM, has revealed that full year sales and revenue in 2021 was US$51.0 billion, a 22% increase compared with US$41.7 billion in 2020.

Fourth quarter sales for the company in 2021 was US$13.8 billion, a 23% increase compared with the fourth quarter of 2020. 

Specifically for the construction segment, sales in the fourth quarter of 2021 were US$5.7 billion, an increase of US$1.2 billion (27%) compared with US$4.5 billion in the fourth quarter of 2020.

North America saw sales increase by 39% compared to the same quarter in 2021 to US$2.63 billion, while Latin America saw an even bigger sales increase of 74% to US$663 million. Europe, Africa and the Middle East (EAME) saw sales rise by 47% in the fourth quarter of 2021 to US$1.24 billion.

The only region to see a decline was Asia/Pacific, which saw sales drop 12% to US$1.24 billion. Lower sales in China were cited as the main reason for the region’s decline.

Construction Industries’ profit was US$788 million in the fourth quarter of 2021, an increase of 25% compared with the fourth quarter of 2020.

The resource industries, which includes mining, saw total sales of US$2.762 billion in the fourth quarter of 2021, an increase of 27% compared with the fourth quarter of 2020. Sales were up in all regions, with North America seeing the biggest increase (44%) and Latin America the smallest (5%).

“I’m proud of our global team’s continued resilience in what proved to be a challenging and dynamic operating environment,” said Caterpillar Chairman and CEO, Jim Umpleby.

“Amid ongoing supply chain constraints, our team continues to execute our strategy for long-term profitable growth while striving to meet customer demand.”

MAGAZINES
Latest News
Isuzu Diesel territory expands into New Mexico
Hamilton Power Solutions expands distribution territory to state of New Mexico for Isuzu Diesel engines
First of Doosan dozers enters full production
10 metric ton dozers have entered production and are set to be shipped to North American dealerships
Daimler Truck begins truck production in China
Joint venture with Foton building Mercedes-Benz trucks for Chinese market