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.
Cat Financial reported a strong performance for Q3 2021, with revenues of $634 million, a 6% increase from Q3 2020. Profit surged to $101 million, reflecting a remarkable 110% growth year-over-year. Profit before income taxes rose to $131 million, up 36%, aided by a $27 million gain from returned equipment and a reduction in credit loss provisions. Retail new business volume reached $3.34 billion, a 29% increase, although past dues improved to 2.41% from 3.81% a year prior.
Caterpillar reported third-quarter 2021 sales of $12.4 billion, a significant 25% increase from $9.9 billion in 2020, driven by strong equipment demand and favorable pricing. Profit per share rose to $2.60, up from $1.22 in the previous year. Adjusted profit per share was $2.66, reflecting solid operational performance. Notably, the company returned $2.0 billion to shareholders through dividends and share buybacks during the quarter, showcasing a healthy balance sheet with $9.4 billion in cash.
Caterpillar Inc. (NYSE: CAT) is set to release its third-quarter 2021 financial results on October 28 at 5:30 a.m. CDT. Stakeholders can access the release via the investors.caterpillar.com website and through PR Newswire. A teleconference and webcast will follow at 7:30 a.m. CDT for analysts and investors. Dial-in options are available for both domestic and international participants, with entry code 9864507. Caterpillar generated $41.7 billion in revenue for 2020, operating through multiple segments worldwide.
Caterpillar Inc. (NYSE: CAT) announced the board's decision to maintain a quarterly dividend of $1.11 per share, payable on November 19, 2021. Shareholders of record as of October 25, 2021 will receive this dividend. This marks the 28th consecutive year of increasing annual dividends, solidifying Caterpillar's status as a member of the S&P 500 Dividend Aristocrat Index. In 2020, Caterpillar reported $41.7 billion in sales and revenues, affirming its leadership in the manufacturing of construction and mining equipment.
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.
FAQ
What is the current stock price of Caterpillar (CAT)?
What is the market cap of Caterpillar (CAT)?
What are Caterpillar's main business segments?
How does Caterpillar distribute its products?
What were Caterpillar's sales and revenues in 2023?
How does Cat Financial support Caterpillar's operations?
What is Caterpillar's approach to sustainability?
Where can I access Caterpillar's latest financial results?
What notable achievements did Caterpillar report for the fourth quarter of 2023?
How does Caterpillar's dealer network enhance customer satisfaction?
What are Caterpillar's future growth strategies?
How can I stay updated on Caterpillar's latest news and announcements?
