Grease the bottom and 1/2 inch up sides of two 9x5x3-inch, three 8x4x2-inch, or four 7 1/2x 3 1/2×2-inch loaf pans; set aside. In a very large mixing bowl beat sugar and oil with an electric mixer on medium speed. Add eggs and beat well; set aside.
In a large bowl combine flour, baking soda, salt, cinnamon, and nutmeg. Alternately add flour mixture and water to sugar mixture, beating on low speed after each addition just until combined. Beat in pumpkin. Spoon batter into prepared pans.
Bake for 55 to 65 minutes or until a wooden toothpick inserted near centers comes out clean. (If only baking one loaf, this time reduces significantly so it is important to keep an eye on it.) Cool in pans on wire racks for 10 minutes. Remove from pans. Cool completely on wire racks. Wrap and store overnight before slicing.
Bake for 25 minutes at 350 degrees when making 8 mini loaves, or until passes toothpick test.
Source: Slightly adapted from Better Homes & Garden Cook Book