Welcome to our dedicated page for Caterpillar news (Ticker: CAT), a resource for investors and traders seeking the latest updates and insights on Caterpillar stock.
Caterpillar Inc. (NYSE: CAT) is an American multinational corporation and the world's largest manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Ranked number 73 on the Fortune 500 list in 2018, Caterpillar has consistently demonstrated its industry leadership and resilience.
The company's operations are divided into four main segments: Construction Industries, Resource Industries, Energy & Transportation, and Cat Financial. Caterpillar's products are distributed worldwide through a robust dealer network of approximately 160 dealers operating about 2,700 branches globally. This network ensures the availability and serviceability of Caterpillar products, enhancing customer satisfaction and fostering long-term relationships.
Caterpillar's Construction Industries segment focuses on manufacturing and selling construction equipment such as backhoe loaders, compactors, and excavators. The Resource Industries segment is dedicated to heavy machinery used in mining and quarrying. The Energy & Transportation segment encompasses power generation, industrial and marine engines, and locomotives, while Cat Financial provides retail and wholesale financing solutions to customers and dealers, reinforcing the sales of Caterpillar products.
With 2023 sales and revenues amounting to $67.1 billion, Caterpillar reported significant financial performance, including record full-year sales, revenues, adjusted profit per share, and ME&T free cash flow. In the fourth quarter of 2023, the company achieved a 3% increase in sales and revenues to $17.1 billion, compared to $16.6 billion in the same period in 2022. The operating profit margin for this quarter was 18.4%, reflecting the company's strategic initiatives and efficiency improvements.
Caterpillar is committed to sustainability and innovation. The company is on a mission to build a better, more sustainable world, contributing to a reduced-carbon future. This commitment is reflected in their ongoing investment in research and development, aiming to produce energy-efficient and environmentally friendly machinery.
The company's latest financial results and performance updates can be accessed through their investor relations website and recent announcements. Caterpillar will continue to execute its strategy for long-term profitable growth, ensuring robust financial health and operational excellence.
For more information, visit the official Caterpillar website at caterpillar.com or follow their social media channels for the latest news and updates.
Caterpillar Inc. (NYSE: CAT) announced a record pledge of over $13.8 million to United Way chapters across the United States, Canada, Mexico, and Panama for its 2022-2023 campaign, marking a $1 million increase from the previous year. The Caterpillar Foundation matches employee contributions dollar for dollar, highlighting a sustained commitment to community support. Over the past 20 years, the company has raised more than $200 million through this initiative. Caterpillar operates globally, primarily in construction and mining equipment, with 2021 sales of $51 billion.
Cat Financial reported Q3 2022 revenues of $690 million, a 9% increase from $634 million in Q3 2021. Profit rose 30% to $131 million from $101 million year-over-year due to higher financing rates. Profit before income taxes surged 44% to $188 million, influenced by a $75 million reduction in credit loss provisions. However, retail new business volume fell 18% to $2.73 billion. Past dues decreased to 2.00% from 2.41% a year ago, indicating improved portfolio performance.
Caterpillar reported third-quarter 2022 sales of $15.0 billion, a 21% increase from $12.4 billion in Q3 2021. The profit per share rose to $3.87, with adjusted profit at $3.95, up from $2.60 and $2.66, respectively. The operating profit margin improved to 16.2%. The company returned $2.0 billion to shareholders via share repurchases and dividends. Strong demand was noted across all segments, though the increase in sales was partially offset by unfavorable currency impacts. Caterpillar ended the quarter with $6.3 billion in cash and reported significant growth in all three primary segments.
Caterpillar Inc. (NYSE: CAT) announced on October 13, 2022, that its Board of Directors has waived the mandatory retirement policy for Chairman and CEO Jim Umpleby, allowing him to continue in his role beyond February 2023 when he turns 65. This decision grants the Board increased flexibility in its CEO succession planning. Debra Reed-Klages, presiding director, praised Umpleby for his strong leadership. Caterpillar reported sales of $51 billion in 2021, underscoring its position as a leading manufacturer in the construction and mining equipment sector.
Caterpillar Inc. (NYSE: CAT) will release its third-quarter 2022 financial results on October 27 at 5:30 a.m. CDT. The results will be accessible at investors.caterpillar.com. A teleconference and webcast will follow at 7:30 a.m. CDT, available for analysts and institutional investors. Participants can access the call via phone with conference ID 9063945. Caterpillar reported 2021 sales of $51.0 billion, highlighting its position as a leading manufacturer in construction and mining equipment.
Caterpillar Inc. (NYSE: CAT) has announced that it will maintain its quarterly dividend at $1.20 per share, payable on November 18, 2022, to shareholders of record as of October 24, 2022. This marks the company's 29th consecutive year of increased annual dividends, establishing its position as a member of the S&P 500 Dividend Aristocrat Index. Caterpillar reported $51.0 billion in sales for 2021, highlighting its strong market presence in construction and mining equipment.
Caterpillar (NYSE: CAT) will showcase four electric machine prototypes, including battery models, at bauma 2022 in Munich from Oct. 24-30. The prototypes aim to assist customers in their transition to sustainable practices, featuring the 301.9 mini excavator, 320 medium excavator, 950 GC medium wheel loader, and 906 compact wheel loader. These machines incorporate Caterpillar's innovative battery technology and charging options, and they are designed to meet diverse customer needs while maximizing sustainability.
Cheniere Energy has appointed Brian E. Edwards to its Board of Directors, effective October 3, 2022. Edwards, a Senior Vice President at Caterpillar, brings over 20 years of experience in manufacturing and engineering. He will serve on the Audit and Compensation Committees. Additionally, the company announced the retirement of David B. Kilpatrick from the Board, who contributed to the company since 2003. The changes reflect Cheniere's commitment to leadership that supports its growth as a leading liquefied natural gas operator globally.
Dennis Muilenburg, the former CEO of Boeing (NYSE: BA), joins Green Eight Capital AG's Board of Directors to lead the new Aerospace Innovation Fund. This fund aims to invest in aerospace sectors to enhance supply chains and promote technological advancements. Muilenburg brings over 35 years of experience and previously launched initiatives at Boeing to foster entrepreneurship. He believes the aerospace industry can drive economic growth and innovation. Green Eight is currently raising capital for the fund and plans to expand its leadership team.
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