Caterpillar Inc. - CAT STOCK NEWS

Cat Financial reported $668 million in revenues for Q2 2022, a 3% increase from $646 million in Q2 2021. Profit rose to $143 million, up 1% from $142 million year-over-year. Key contributors to revenue growth included $20 million from higher financing rates and $18 million from returned equipment, countered by a $15 million decline in earning assets. Retail new business volume fell 12% to $3.10 billion. Past dues decreased to 2.19%, showing improved portfolio performance.

Caterpillar Inc. (NYSE: CAT) reported an 11% increase in second-quarter 2022 sales and revenues, reaching $14.2 billion, compared to $12.9 billion in Q2 2021. Profit per share rose to $3.13, with an adjusted profit of $3.18. Operating profit margin slightly decreased to 13.6% from 13.9%. The firm returned $1.7 billion to shareholders via share repurchases and dividends. Despite supply chain challenges, demand across end markets remains healthy. The company ended the quarter with $6.0 billion in cash, showcasing its strong financial position.

Caterpillar Inc. (NYSE: CAT) will announce its second-quarter 2022 financial results on August 2 at 5:30 a.m. CDT. The financial results will be accessible via the company’s investor website and PR Newswire. A teleconference for analysts will follow at 7:30 a.m. CDT, with access provided through a conference call. Caterpillar reported $51.0 billion in sales and revenues in 2021, showcasing its position as a leading manufacturer in the construction and mining equipment sector.

Caterpillar Inc. has become the Official Heavy Equipment and Industrial Power Sponsor of the NHL, marking a multiyear partnership that starts in the 2022-23 NHL season. This collaboration aims to highlight the contributions of those who manufacture and operate Cat products while enhancing brand visibility at major NHL events. Caterpillar will engage with fans and its customer base through various initiatives and promotional activities both in-arena and via NHL media platforms. In 2021, Caterpillar reported sales and revenues of $51 billion, showcasing its position as a leading manufacturer in the heavy equipment sector.

Caterpillar (NYSE: CAT) announced on June 14, 2022, its decision to relocate its global headquarters from Deerfield, Illinois, to Irving, Texas. Chairman and CEO Jim Umpleby stated this move aligns with the company's strategy for profitable growth and sustainability efforts. Although Texas has been home to Caterpillar since the 1960s, Illinois will continue to host the largest concentration of Caterpillar employees. The transition to the new headquarters is set to begin in 2022.

The Board of Directors of Caterpillar raised its quarterly cash dividend by 8%, increasing it by nine cents to $1.20 per share. This will be payable on August 19, 2022, to shareholders of record by the close of business on July 20, 2022. Caterpillar's strong balance sheet and free cash flow generation support this decision, according to Chairman and CEO Jim Umpleby. The company has a history of consistent dividends, paying higher annual dividends for 28 consecutive years and being part of the S&P 500 Dividend Aristocrat Index.

Caterpillar Inc. (NYSE: CAT) announced a three-year hydrogen-fueled combined heat and power (CHP) demonstration project in partnership with District Energy St. Paul, supported by the U.S. Department of Energy. The project will assess hydrogen fuel options for existing energy-efficient engines, integrating with local infrastructure to enhance heat and electricity efficiency. Caterpillar, leveraging 35 years of experience, aims to help customers achieve climate goals. The company reported $51.0 billion in sales for 2021, showcasing a commitment to sustainable energy solutions.

Caterpillar Inc. (NYSE: CAT) has announced a multi-year sponsorship with Major League Soccer (MLS), targeting a diverse audience in the U.S. and Canada. This partnership aims to amplify the Caterpillar brand among the league's millennial and multicultural fanbase. MLS is the fastest-growing sports league in North America, featuring a youthful player pool from over 82 countries. The collaboration will include integrating Cat products into soccer and providing exclusive experiences for Cat dealers. This strategic move supports Caterpillar's commitment to engage with future generations and local communities.

Caterpillar Inc. (NYSE: CAT) Chairman & CEO Jim Umpleby will participate in a fireside chat with institutional investors at Bernstein's 38th Annual Strategic Decisions Conference on June 1, 2022, at 11 a.m. ET. The session will last 50 minutes and will be webcast in real-time for public viewing. Interested listeners should access the investor relations website 30 minutes prior to the event for registration and software setup. A replay will be available for one year, and a transcript will be posted on Caterpillar's investor relations site.