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 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.
Caterpillar Inc. and the Caterpillar Foundation announced targeted relief efforts to address COVID-19 crises in India and Brazil. The Foundation is donating $1 million to support India's healthcare system, including oxygen supplies. Additionally, Caterpillar India is contributing $1.4 million for medical support and vaccination drives. In Brazil, a $250,000 donation will aid local hospitals. The Foundation also supports the COVAX initiative with a $500,000 donation for global vaccine access and invests $250,000 in a U.S. vaccine education initiative.
Caterpillar Inc. (NYSE: CAT) will host its virtual annual shareholder meeting on June 9, 2021, at 8 a.m. CDT. Shareholders holding common stock as of April 12, 2021, or their legal proxies, can participate, submit questions, and vote on relevant items. Comprehensive details, including registration and business items, are available in the 2021 proxy statement. In 2020, Caterpillar achieved sales and revenues of $41.7 billion, solidifying its position as a leader in construction and mining equipment.
Cat Financial reported Q1 2021 revenues of $639 million, an 8% decrease from the previous year, despite profits rising by 56% to $140 million. The revenue drop was attributed to $40 million from lower financing rates and $19 million from reduced earning assets. Profit before income taxes was $196 million, a 54% increase, influenced by a $71 million decrease in provisions for credit losses. Retail new business volume rose 21% to $2.81 billion, with a decrease in past dues from 4.13% to 2.90%.
Caterpillar reported first-quarter 2021 sales of $11.9 billion, a 12% increase from $10.6 billion in Q1 2020. Profit per share reached $2.77, up from $1.98 year-over-year. Adjusted profit per share rose to $2.87, compared to $1.65 in Q1 2020. The increase was driven by higher end-user demand and inventory changes, with dealers increasing inventories by $700 million compared to $100 million last year. Operating profit margin improved to 15.3%, up from 13.2% in 2020.
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?
