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 reported a strong performance in its first quarter of 2023, with sales and revenues rising 17% to $15.9 billion, up from $13.6 billion in Q1 2022. The growth was largely driven by favorable price realization and increased sales volume. The profit per share reached $3.74, compared to $2.86 in the previous year, while the adjusted profit per share was $4.91, up from $2.88. Operating profit margin improved to 17.2%, compared to 13.7% in the same quarter last year. Caterpillar returned $1 billion to shareholders via dividends and share repurchases. However, the divestiture of the Longwall business impacted operating profit by $586 million. The company ended the quarter with $6.8 billion in cash.
Nouveau Monde Graphite (NMG) has announced a partnership with Caterpillar (CAT) to develop an integrated solution for a zero-exhaust emission fleet and supporting infrastructure for NMG's Matawinie Mine in Québec. This agreement builds on a 2021 collaboration and includes the supply of carbon-neutral graphite materials to Caterpillar for its battery supply chain. NMG's Matawinie Mine aims to be the world's first all-electric open-pit mine, showcasing sustainable mining technology. The collaboration includes the testing of Caterpillar's electric machines, with an objective to transition to all-electric operations within five years. Additionally, a framework for equipment procurement and maintenance has been established to minimize initial capital intensity while enhancing operational efficiency.
Caterpillar Inc. (NYSE: CAT) is set to release its first-quarter 2023 financial results on April 27 at 5:30 a.m. CDT. Investors can access the report and details via the company's investor relations website. A teleconference and webcast will follow at 7:30 a.m. CDT, allowing analysts and investors to discuss the results. A real-time audio stream will be available, with supporting materials accessible beforehand. The conference call will be accessible via phone and online, and transcripts will be provided post-event. In 2022, Caterpillar reported sales and revenues of $59.4 billion, maintaining its position as a leading manufacturer in construction and mining equipment. The company is committed to sustainability and continues to innovate in its sector.
The Board of Directors of Caterpillar (NYSE: CAT) announced on April 12, 2023, the decision to maintain its quarterly dividend at $1.20 per share. This dividend will be paid on May 19, 2023, to shareholders on record as of April 24, 2023. Caterpillar has consistently paid cash dividends since its formation, increasing its annual dividends for 29 consecutive years, earning a spot in the S&P 500 Dividend Aristocrats Index. In 2022, Caterpillar reported sales and revenues of $59.4 billion and continues to be a leader in construction and mining equipment manufacturing, with a commitment to sustainability and innovation.
FREYR Battery has initiated discussions for a strategic coalition with Glencore, Caterpillar, Siemens, and Nidec to enhance sustainable battery solutions across Europe and North America. This non-binding alliance aims to establish guiding principles to accelerate energy transition and meet sustainability goals. The coalition will focus on collaboration in battery cell manufacturing, digital services, and sustainable supply chains. FREYR is focused on scaling up battery production capacity, targeting 50 GWh by 2025 and up to 200 GWh by 2030. The announcement underscores FREYR's commitment to decarbonization and innovative technology development.
Caterpillar Inc. (NYSE: CAT) CEO Jim Umpleby will participate in a fireside chat at CONEXPO, hosted by Goldman Sachs, on March 14, 2023, at 9:30 a.m. PT. The event will take place at the Las Vegas Convention Center, Central Hall N112, and will be available for live streaming. Institutional investors and analysts can register on the investor relations website 30 minutes prior to the event, with a replay available for 90 days afterward. Caterpillar, a leading manufacturer in construction and mining equipment, reported sales and revenues of $59.4 billion in 2022, focusing on a sustainable future through innovative products.
Caterpillar Inc. (NYSE: CAT) CFO Andrew Bonfield will present at the 15th Annual Evercore ISI Industrial Conference on March 8, 2023, at 9 a.m. ET. The event will be webcast live, accessible to the public via a provided link. Listeners are encouraged to register early on the investor relations website. A replay of the webcast will be available for 90 days, and a transcript will be posted afterward. Caterpillar, with 2022 sales of $59.4 billion, is the leading manufacturer in construction and mining equipment, and is committed to sustainability and innovation across its global operations.
Caterpillar Inc. (NYSE: CAT) released its first Lobbying Report on Feb. 3, 2023, detailing its public policy advocacy aligned with the company’s strategy for long-term growth. The report emphasizes transparency in Caterpillar's political engagement concerning climate initiatives and support for the energy transition. CEO Jim Umpleby highlighted the company's commitment to supporting sustainable practices and customer needs. The report will be published annually and includes insights into the governance of political activities, impacts of lobbying efforts, and Caterpillar's relations with trade associations.
Caterpillar Inc. (NYSE: CAT) announced the appointment of Judith Marks and James Fish, Jr. to its board of directors, effective March 1, 2023. Marks, CEO of Otis Worldwide Corporation, brings expertise in services growth and digital transformation. Fish, CEO of Waste Management, has a strong sustainability background. They will enhance the board's focus on long-term profitable growth and sustainable solutions. Edward Rust will not stand for re-election at the 2023 Annual Shareholder Meeting, acknowledging his 20 years of service. Following these changes, the board will consist of 11 members, with 10 being independent.
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