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) has acquired Enhanced Energy Group, Inc., operating as CarbonPoint Solutions, a carbon capture technology company based in Rhode Island. This strategic acquisition aims to integrate CarbonPoint's patented technologies with Caterpillar's existing oil and gas solutions, aligning with the company's commitment to reducing greenhouse gas emissions. Caterpillar's investment in new technologies underscores its dedication to sustainability and aiding customers in achieving climate-related goals.
Chevron Corporation (NYSE: CVX) and Caterpillar Inc. (NYSE: CAT) have announced a collaboration to develop hydrogen demonstration projects aimed at transforming transportation and stationary power applications. The initiative includes demonstrating a hydrogen-fueled locomotive and necessary fueling infrastructure across various U.S. locations. Chevron's commitment to hydrogen is part of its strategy to lower carbon emissions in heavy-duty sectors, while Caterpillar aims to provide customers with diverse fuel options for sustainability.
Chevron U.S.A. Inc. and Caterpillar Inc. have announced a collaboration to explore hydrogen applications in transportation and stationary power. The partnership aims to demonstrate hydrogen as a viable alternative fuel for line-haul rail and marine vessels and to develop hydrogen-fueled locomotives and related infrastructure. Work will commence immediately at various locations across the U.S. Chevron's initiative focuses on advancing hydrogen technology for heavy-duty transportation, while Caterpillar emphasizes its commitment to sustainability through diverse fuel options.
Caterpillar Group President of Resource Industries, Denise Johnson, will participate in a fireside chat at MINExpo on September 15, 2021. The event's theme is 'Together, we're mining better,' highlighting Caterpillar's commitment to assisting customers in mining efficiently and sustainably. The 45-minute session starts at 9:30 a.m. PT and will be hosted by Nicole DeBlase from Deutsche Bank. The event will be webcasted live and available for public viewing. A replay and transcript will be provided on Caterpillar's investor relations website.
Cat Financial reported second-quarter 2021 revenues of $646 million, an increase of 1% from 2020, with profits at $142 million, up 141%. The revenue growth stemmed from a $17 million impact from repossessed equipment and $7 million from higher earning assets, despite an $18 million decline due to lower financing rates. Profit before taxes rose 112% to $189 million, aided by a $75 million drop in credit loss provision. Retail new business volume reached $3.52 billion, up 29%, while past dues decreased to 2.58%.
Caterpillar Inc. reported a strong second quarter for 2021, with sales and revenues rising to $12.9 billion, a 29% increase year-over-year. Profit per share reached $2.56, significantly up from $0.84 in 2020. The rise in sales was attributed to higher demand for equipment and favorable changes in dealer inventories. Operating profit margin improved to 13.9%, while the company returned $0.8 billion to shareholders via dividends and share buybacks. End-user demand showed growth across all regions, supporting a strong financial outlook.
Caterpillar Inc. (NYSE: CAT) is set to announce its second-quarter 2021 financial results on July 30, 2021, at 5:30 a.m. CDT. The results will be accessible on their official website. Following the release, a teleconference and webcast for analysts will begin at 7:30 a.m. CDT. Participants can access the call via phone or online, with details provided in the release. Caterpillar, a leader in construction and mining equipment, reported $41.7 billion in sales for 2020.
The board of directors of Caterpillar has announced an 8% increase in its quarterly cash dividend, raising it by eight cents to $1.11 per share. This dividend will be payable on August 20, 2021, to shareholders on record by the close of business on July 20, 2021. Caterpillar has successfully maintained a history of paying dividends annually since its formation and has increased its dividends for 27 consecutive years, underscoring its strong financial position and commitment to returning value to shareholders.
Caterpillar Inc. CEO Jim Umpleby will engage in a fireside chat at Bernstein's Virtual 37th Annual Strategic Decisions Conference on June 2, 2021.
The session, lasting approximately 45 minutes, will commence at 8 a.m. ET and will be available for live streaming to the public. Listeners are encouraged to register 30 minutes prior and install any necessary audio software.
The webcast will be accessible for replay for 90 days, with a transcript posted on Caterpillar's investor relations website.
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