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) hosted its Investor Day on May 17, 2022, highlighting growth opportunities in services, technology, and sustainability. The company aims for long-term sales growth driven by the energy transition, maintaining adjusted operating margin targets while investing in technology. Caterpillar reported achieving $26 billion in free cash flow since 2017 and committed to returning substantial cash flow to shareholders, with a new $15 billion stock repurchase authorization effective August 1, 2022.
Caterpillar has acquired Tangent Energy Solutions, a U.S.-based energy-as-a-service company, enhancing its capabilities in providing energy solutions. The acquisition, announced on May 5, 2022, allows Caterpillar to offer improved energy efficiency and cost-reduction services to customers. Tangent's proprietary software will optimize energy use without disrupting operations, providing additional revenue streams. This strategic move complements Caterpillar's existing electric power product offerings, positioning it for greater market share in the growing energy sector.
Caterpillar Inc. (NYSE: CAT) will host a video webcast for its Investor Day on May 17, 2022, at 10:25 a.m. CDT. The event will feature insights from Chairman and CEO Jim Umpleby and the Executive Office, focusing on the company's enterprise strategy aimed at profitable growth through services, technology, and sustainability. Presentations will be accessible online, and a transcript will be available post-event. Caterpillar reported $51.0 billion in sales and revenues for 2021, emphasizing its role as a leader in construction and mining equipment manufacturing.
Caterpillar Inc. (NYSE: CAT) will hold a virtual annual shareholder meeting on June 8, 2022, at 8 a.m. CDT. Shareholders as of April 13, 2022, can participate, ask questions, and vote on various items during the meeting. Details regarding attendance and business items will be available in Caterpillar's 2022 proxy statement.
In 2021, Caterpillar reported sales and revenues of $51.0 billion, cementing its position as a leader in manufacturing construction and mining equipment, as well as industrial engines.
Cat Financial reported first-quarter 2022 revenues of $652 million, marking a 2% increase from 2021. Profit for the same period was $143 million, also up 2%. Revenue growth was driven by $36 million from returned equipment, offset by $29 million from lower financing rates. Profit before taxes decreased by 2% to $193 million, influenced by a $37 million increase in credit loss provisions. Retail new business volume fell by 1% to $2.78 billion, due to lower activity in Asia/Pacific and Mining.
Caterpillar (CAT) reported a strong first quarter of 2022, achieving sales and revenues of $13.6 billion, a 14% increase year-over-year. Profit per share rose to $2.86, up from $2.77 in 2021. Adjusted profit per share was $2.88, slightly higher than last year's $2.87. The growth is attributed to increased sales volume driven by higher end-user demand and inventory changes. However, operating profit margin declined to 13.7% from 15.3%. The company returned $1.4 billion to shareholders through repurchases and dividends, showcasing a strong balance sheet amid ongoing supply chain challenges.
Caterpillar Inc. (NYSE: CAT) is set to release its first-quarter 2022 financial results on April 28, 2022, at 5:30 a.m. CDT. The financial results will be accessible via their investor relations page and will also be filed with the U.S. SEC through a Current Report on Form 8-K. A teleconference for analysts and investors is scheduled for the same day at 7:30 a.m. CDT, with a conference ID of 9063945. The results will summarize Caterpillar's performance across its key segments which include construction, resource, and energy industries.
Caterpillar Inc. (NYSE: CAT) has announced that it will maintain its quarterly dividend at $1.11 per share, scheduled for payment on May 20, 2022, to shareholders recorded by April 25, 2022. The company has consistently paid dividends since its inception and has raised its annual dividend for 28 consecutive years, earning a place on the S&P 500 Dividend Aristocrat Index. With reported sales of $51.0 billion in 2021, Caterpillar continues to lead in construction and mining equipment manufacturing.
The Caterpillar Foundation is donating over $1 million to aid humanitarian efforts amid the ongoing crisis in Ukraine. This contribution will support organizations like the American Red Cross, Project Hope, and the Center for Disaster Philanthropy, providing essential resources such as food, medical supplies, and housing assistance. Additionally, the foundation is matching employee donations with a 2:1 ratio. Caterpillar's CEO, Jim Umpleby, expressed profound concern for the situation and highlighted the company's commitment to critical humanitarian efforts.
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