Incoming Caterpillar CEO affirms equipment maker’s long-term profit goals of 15-20 pct growth

Caterpillar sets customer-focused goals for future

PEORIA, Ill. — Heavy equipment maker Caterpillar Inc. says its long-term profit goals won’t change when Doug Oberhelman takes over as CEO this summer.

The Peoria, Ill.-based company released an updated version of its strategic plan Tuesday that calls for the firm to focus on its customers’ needs.

Oberhelman says he wants Caterpillar to grow its annual earnings per share by 15 to 20 percent. He affirmed the company’s goal of delivering earnings per share of $8 to $10 in 2012.

Oberhelman says Caterpillar is focused on results and accountability. Oberhelman, who has worked for Caterpillar since 1975, will become CEO in July.

The company’s stock gained 55 cents, or about 1 percent, to sell for $56.38 Tuesday morning.

Online:

Caterpillar Inc.: www.cat.com