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Caterpillar Inc (CAT)

CAT on New York Consolidated

94.45USD
5 Dec 2016
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Latest Key Developments (Source: Significant Developments)

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

Caterpillar reports retail statistics of machines for 3-month rolling period
Thursday, 18 Aug 2016 09:10am EDT 

Caterpillar Inc : World dealer reported retail statistics of machines for 3-month rolling period ended July 2016 down 19 percent . North America dealer reported retail statistics of machines for 3-month rolling period ended July 2016 down 20 percent . Asia/Pacific dealer reported retail statistics of machines for 3-month rolling period ended July 2016 down 7 percent Source: (http://bit.ly/2b6ETrq) Further company coverage: [CAT.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Caterpillar CEO Douglas Oberhelman says little more restructuring to come for 2017 and beyond - CNBC
Tuesday, 26 Jul 2016 08:00am EDT 

: Caterpillar CEO Douglas Oberhelman says little more restructuring to come for 2017 and beyond - CNBC . Caterpillar CEO Douglas Oberhelman says most of the restructuring will be in co's mining business - CNBC . Caterpillar CEO Douglas Oberhelman says a 3 pct global economic growth would add jobs for us - CNBC (Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780).  Full Article

Caterpillar posts Q2 earnings of $0.93/share
Tuesday, 26 Jul 2016 07:36am EDT 

Caterpillar: Reports second quarter 2016 results . Q2 earnings per share $1.09 excluding items . Q2 earnings per share $0.93 . Q2 sales $10.34 billion versus I/B/E/S view $10.11 billion . Q2 earnings per share view $0.96 -- Thomson Reuters I/B/E/S . Dealer machine and engine inventories decreased about $400 million in Q2 of 2016 . Over past quarter, economic risks have persisted ;current expectations for 2016 sales and revenues are closer to bottom end of outlook range . At end of Q2 of 2016, order backlog was $11.8 billion, representing about a $1.3 billion reduction from end of q1 of 2016 . Expect dealers will reduce inventories during remainder of 2016, resulting in lower year-end inventories in 2016, compared to 2015. . Mining, oil and gas, and rail industries remain challenged . About two-thirds of order backlog decrease during quarter was in construction industries . Cost reduction efforts are paying off with second-quarter decremental operating profit pull through better than target range . As of June 30, 2016, CAT Financial's allowance for credit losses totaled $346 million compared with $405 million at June 30, 2015 . On Brexit - it is possible that in short term uncertainty could impact our customers' purchasing decisions . "We have a substantial manufacturing presence in U.K., and a weaker British pound would be positive for our exports from U.K".  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.