The 7 Big Farm and Equipment Manufacturing Corps, with Pretax Income of at least $100 mil each in the quarter, reported Total Pretax Income growth of a superlative 51% in the most recent 2Q 2011.
And just check out the past 6 quarter Pretax Income (PTI) trend in total for these 7 Corps.
Year 2010 PTI…$10.0 bil…vs…Year 2009 PTI…$3.4 bil…up 194%
1Q 2011 PTI……….$3.6 bil….vs….1Q 2010 PTI….$1.3 bil…up 175%
2Q 2011 PTI……….$4.3 bil….vs….2Q 2010 PTI….$2.9 bil…..up 51%
The only reason the earnings growth is only 51% in the most recent 2Q 2011 is because the base earnings has grown so dramatically in the previous 5 quarters. Just think about it, the Total Pretax Income in just the most recent 2Q 2011, exceeds by 27% the earnings in the entire year of 2009.
OK Big Farm Manufacturers, you made your point, you really know how to make money.
So Big Farm Manufacturers, when are you going to turn patriotic, and start hiring US workers?
The employees of all of these Big Farm Manufacturing Corps have to be very pleased with how the Obama Administration has helped their companies prosper.
Below here are the Pretax Income (PTI) of these 7 Big Farm and Construction Manufacturing Corps in the 2Q 2011, along with a comparison with the prior year’s 2Q of 2010:
.............................................2Q.........2Q............
...........................................2011......2010.....Increase...
............................................PTI........PTI.....Amount....%
...........................................(in millions of dollars).........
Caterpillar..........IL............1,350.......946.......404.....43%
Deere..................IL............1,341.......989.......352.....36%
Cummins(1)........IN..............694.......392.......302.....77%
CNH Global NV....IL..............422.......228.......194......85%
Joy Global..........WI..............231.......176.........55......31%
AGCO.................GA..............181.........81.......100....123%
Sauer-Danfoss.....IA..............111.........54.........57....106%
Total all 7...........................4,330....2,866....1,464.....51%
(1) Cummins 2011 PTI excludes Gain on Sale of Business.
