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Caterpillar Inc (CAT)

CAT on New York Consolidated

95.53USD
9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Fitch revises Caterpillar's rating outlook to negative affirms IDR at 'A'
Thursday, 8 Dec 2016 03:38pm EST 

Fitch Ratings: Fitch revises Caterpillar's rating outlook to negative; affirms IDR at 'A' . Revision to negative reflects impact of extended downturn in CAT's machinery markets .Expects credit metrics may not improve until after 2017, a year later than originally expected.  Full Article

Caterpillar calls market estimate for its 2017 profit "too optimistic"
Thursday, 1 Dec 2016 11:42am EST 

Caterpillar Inc : Caterpillar - "encouraged by potential of U.S. infrastructure bill, tax reform, smart regulation, commodity prices and the recent OPEC announcement" . On track for over $2 billion of period and variable cost reduction for the FY 2016 . FY 2017 Thomson First Call consensus estimates of EPS of $3.25 on $38 billion sales is "too optimistic considering expected headwinds" . Thomson First Call consensus estimate of $38 billion in FY 2017 sales and revenue is "reasonable midpoint expectation" . FY2017 earnings per share view $3.25, revenue view $38.13 billion -- Thomson Reuters I/B/E/S . Oil prices remain "volatile and not high enough to drive substantial investment" in 2017 . 2017 outlook for construction in China "generally positive" but dependent on continued government support for growth . Economic growth in Europe, and impact of Brexit on growth is a concern .Potential infrastructure bill in U.S. a positive, but little impact expected in 2017.  Full Article

Caterpillar and Trimble to expand mining technology collaboration
Friday, 4 Nov 2016 06:30am EDT 

Caterpillar Inc: Caterpillar and Trimble to expand mining technology collaboration . Caterpillar Inc - companies have signed an agreement that outlines areas for increased engagement to begin in early 2017 .Caterpillar - expanded collaboration in mining to include product integration, development, marketing, distribution, support of Trimble connected mine solutions.  Full Article

Caterpillar reports Q3 earnings per share $0.48
Tuesday, 25 Oct 2016 07:45am EDT 

Caterpillar Inc : Caterpillar reports third-quarter 2016 results . Q3 earnings per share $0.85 excluding items . Q3 earnings per share $0.48 . Q3 sales $9.2 billion versus I/B/E/S view $9.87 billion . Q3 earnings per share view $0.76 -- Thomson Reuters I/B/E/S . Sees FY 2016 earnings per share $3.25 excluding items . Sees FY 2016 earnings per share $2.35 . "Most commodity prices, while low, seem to have stabilized" . Expect dealers will make substantial inventory reductions during Q4, resulting in lower year-end inventories in 2016, versus 2015 . "Economic weakness throughout much of world persists and, as a result, most of our end markets remain challenged." . Sees 2016 restructuring costs about $800 million . FY outlook for 2016 sales, revenues is about $39 billion, profit is $2.35/share, or $3.25/share excluding restructuring costs . Caterpillar worldwide, full-time employment was about 97,100 at end of q3 2016, compared with about 108,900 at q3 2015 end . Preliminary outlook for 2017 is that sales and revenues will not be significantly different than 2016 . "Remain cautious as we look ahead to 2017" . Changes in dealer inventories had a negative impact on sales in both Q3 of 2016 and Q3 of 2015 . Preliminary outlook for 2017 is based on expectation that world economic growth will remain subdued at close to 2.5 percent . Dealer machine and engine inventories decreased about $700 million in Q3 of 2016 and about $600 million in Q3 of 2015.  Full Article

Cat Financial's 3rd-qtr profit falls 11 pct
Tuesday, 25 Oct 2016 07:31am EDT 

Cat Financial: Third-quarter 2016 revenues of $651 million, a decrease of $2 million, compared with the third quarter of 2015 .Third-quarter 2016 profit was $97 million, a $12 million, or 11 percent decrease from Q3 of 2015.  Full Article

Caterpillar maintains quarterly cash dividend of $0.77 per share
Wednesday, 12 Oct 2016 10:16am EDT 

Caterpillar Inc : Caterpillar Inc. maintains dividend rate .Caterpillar Inc says to maintain quarterly cash dividend of $0.77 per share of common stock.  Full Article

Caterpillar Financial Services files offering of up to $1.25 bln of variable denomination floating rate demand notes - SEC filing
Friday, 7 Oct 2016 12:57pm EDT 

Caterpillar Financial Services Corp :Files shelf offering of up to $1.25 billion of variable denomination floating rate demand notes - sec filing.  Full Article

Wacker Neuson and Caterpillar to end strategic alliance in 2018
Thursday, 25 Aug 2016 03:30am EDT 

Wacker Neuson SE : Wacker Neuson and Caterpillar to end strategic alliance for mini hydraulic excavators under three tons operating weight in 2018 . Will continue to manufacture selected mini excavator models until end of 2019 as part of an ongoing OEM supply relationship . At present, it is hard to predict how machines sales to Caterpillar for remainder of alliance through May 2018 will develop . First full-year effect on Wacker Neuson group revenue will be seen in 2019 .Shares down 4.94 percent.  Full Article

Caterpillar to explore strategic alternatives for certain mining products
Thursday, 18 Aug 2016 05:13pm EDT 

Caterpillar Inc : Caterpillar to explore strategic alternatives for certain mining products . Production of track drills will be discontinued, and no new orders will be taken . Caterpillar inc says company will also discontinue production of track drills within its resource industries portfolio . Says announced it intends to pursue strategic alternatives, including a possible divestiture, for its room and pillar products . Caterpillar says total workforce reductions of up to 155 positions associated with room and pillar business are expected, with some occurring immediately . Says in Denison, Texas, where track drills are produced, approximately 40 positions will be eliminated . Room and pillar underground mining products under strategic review include continuous miners, feeder breakers, coal haulage systems . Room, pillar underground mining products under strategic review include continuous miners, feeder breakers, coal haulage systems . Will repurpose Winston-Salem, North Carolina, facility, transitioning it from a mining to a rail facility beginning later this year . Room, pillar underground mining products under strategic review also include , highwall miners, roof bolters, utility vehicles,diesel vehicles . Says operations at Winston-Salem facility will transfer to progress rail, a wholly owned Caterpillar subsidiary.  Full Article

Caterpillar creates division focused on advancing research, product development
Thursday, 18 Aug 2016 02:00pm EDT 

Caterpillar Inc : Caterpillar officer retires; Company creates division focused on advancing research, product development and innovation capabilities . Caterpillar Inc says Gwenne Henricks, currently Vice President with responsibility for Product Development & Global Technology division is retiring . Company will form a single research, technology and product development division . Manufacturing functions within ACSD will be led by current ACSD operations general manager Steve Ferguson . Says organizational changes are effective September 1, 2016 .Current Advanced Component & System division Vice President Jean Savage will lead newly formed team of ACSD and PD> employees.  Full Article

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Caterpillar global dealer machinery sales soft as decline pace slows

Caterpillar Inc said on Friday its global retail sales declined 12 percent for the three months ended October, but the pace of the decline is less steep than in previous months, the data shows.