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 appointed Gerald Johnson to its board of directors, effective March 1, 2021. Johnson, currently the executive vice president of Global Manufacturing at General Motors, brings extensive manufacturing expertise and a commitment to sustainability. Caterpillar's Chairman and CEO, Jim Umpleby, expressed confidence in Johnson's skills and insights enhancing the board. This change adds valuable experience to the board, critical for steering the company in the competitive manufacturing landscape.
Caterpillar Inc. CFO Andrew Bonfield will participate in a fireside chat at the Evercore ISI Industrial Conference 2021 on March 2, 2021, starting at 11:40 a.m. ET. This session, lasting 30 minutes, aims to engage institutional investors.
The event will be webcast live and accessible to the public. Listeners should register 30 minutes in advance. A replay will be available for 90 days, and a transcript will be posted on Caterpillar's investor relations website.
Caterpillar Inc. has completed its acquisition of Weir Oil & Gas from Weir Group PLC for an undisclosed amount. The integration will create SPM Oil & Gas, which will produce pumps, flow iron, and pressure control products through over 40 global service centers with around 2,000 employees. This acquisition is intended to enhance customer offerings and support Caterpillar's strategy of expanding its services in the well service industry, leveraging Weir's expertise in pressure pumping and control.
Cat Financial announced its 2020 financial results, reporting revenues of $2.55 billion, a 14% decrease from 2019. Profit fell to $293 million, down 29%. Factors behind the revenue decline included $190 million from lower financing rates and $151 million from diminished earning assets. The provision for credit losses rose by $104 million, impacting profit before tax, which decreased 31% to $434 million. Fourth-quarter revenues were $616 million, a 15% decrease compared to Q4 2019. Total assets declined 5% to $31.99 billion.
Caterpillar reported its fourth-quarter 2020 earnings, showing a profit per share of $1.42, down from $1.97 in 2019. Adjusted profit per share was $2.12, reflecting strong operational performance despite a 15% revenue decline to $11.2 billion from $13.1 billion year-over-year. For the full year, Caterpillar's revenues fell 22% to $41.7 billion, with an operating profit margin of 10.9%. The company returned $3.4 billion to shareholders through dividends and stock buybacks. Despite the challenges posed by COVID-19, management expressed confidence in the company's long-term growth potential.
Caterpillar Inc. (NYSE: CAT) will announce its fourth-quarter and full-year 2020 financial results on January 29, 2021, at 5:30 a.m. CST. The results will be available on investors.caterpillar.com and via PR Newswire. A teleconference for analysts and investors will follow at 7:30 a.m. CST. The call is accessible via phone and will provide insights into Caterpillar’s financial performance. In 2019, the company reported $53.8 billion in sales and operates in segments including Construction, Resource, and Energy & Transportation.
Caterpillar Inc. (NYSE: CAT) has announced it will maintain its quarterly cash dividend at $1.03 per share, payable on February 19, 2021, to shareholders of record as of January 20, 2021. This decision reflects the company's strong commitment to returning value to its shareholders. Since 2009, Caterpillar's quarterly dividend has more than doubled, highlighting its consistent performance in providing shareholder returns. The company has paid dividends every year since its inception and has a long history of stable dividends since 1933.
Cat Financial reported third-quarter 2020 revenues of $598 million, a 20% decrease from Q3 2019. Profit for the quarter dropped to $48 million, reflecting a 63% decrease. Key factors included a $76 million adverse impact from lower financing rates and a $40 million drop in earning assets. Retail new business volume was $2.60 billion, down 11%. The company also faced increased past dues at 3.81%. However, total assets were $31.765 billion, showing a 6% decline from the previous year.
Caterpillar Inc. reported a 23% decline in third-quarter 2020 sales and revenues, totaling $9.9 billion, down from $12.8 billion in 2019. Profit per share dropped 54% to $1.22, impacted by $77 million in pension remeasurement losses. The operating profit margin fell to 10%, down from 15.8% a year prior. Sales decreased across all regions and main segments, driven by lower end-user demand and dealer inventory reductions. Despite challenges, the company's strong liquidity includes $9.3 billion in cash and over $14 billion in available resources.
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