Grease the bottom and 1/2 inch sides of two 9x5x3-inch, three 8x4x2-inch, or four 7½x3½x2-inch loaf pans; set aside.
Preheat oven to 350°
In a very large mixing bowl beat sugar and oil with an electric mixer on medium speed. Add eggs and beat well.
In a large bowl combine flour, baking soda, cinnamon, salt and nutmeg. Alternately, add flour and water to sugar mixture, beating on low speed after each addition and just until combined.
Beat in pumpkin and spoon batter into prepared pans.
Bake for 50-55 minutes or until a toothpick inserted in the center comes out clean. Cool in pans on wire racks for 10 minutes. Remove from pans and cool completely, wrap and store overnight before slicing.
If you're using the smaller size pans begin checking for doneness around 25 minutes.