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Caterpillar Inc (CAT)

CAT on New York Consolidated

82.76USD
29 Jul 2016
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Latest Key Developments (Source: Significant Developments)

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

Cat Financial reports Q2 results
Tuesday, 26 Jul 2016 07:31am EDT 

Cat Financial: Decrease in Q2 revenues was primarily due to a $15 million unfavorable impact from lower average earning assets . During Q2 of 2016, retail new business volume was $3.06 billion, an increase of $319 million, or 12 percent . Reported second-quarter 2016 revenues of $659 million, a decrease of $24 million, or 4 percent . Second-Quarter 2016 profit was $102 million, a $2 million, or 2 percent, decrease from Q2 of 2015 . As of June 30, 2016, allowance for credit losses totaled $346 million, compared with $405 million at June 30, 2015 .Write-Offs, net of recoveries, were $33 million for Q2 of 2016, compared with $38 million for Q2 of 2015.  Full Article

Caterpillar says world dealer retail statistics down 12 pct
Monday, 20 Jun 2016 09:22am EDT 

Caterpillar Inc : World dealer reported retail statistics of machines for 3-month rolling period ended May 2016 down 12 percent . North America dealer reported retail statistics of machines for 3-month rolling period ended May 2016 down 12 percent .Latin America dealer reported retail statistics of machines for 3-month rolling period ended May 2016 down 31 percent.  Full Article

Caterpillar maintains quarterly dividend at $0.77/shr
Wednesday, 8 Jun 2016 12:30pm EDT 

Caterpillar Inc: Caterpillar inc. maintains dividend rate .Board voted today to maintain quarterly cash dividend of seventy-seven cents per share.  Full Article

Caterpillar Inc - Caterpillar, Deere cut 170 more jobs - Reuters
Friday, 26 Feb 2016 01:46pm EST 

Caterpillar Inc:Caterpillar Inc and Deere & Co said on Friday they are cutting a total of 170 jobs yet another step in the consolidation of the slumping U.S. heavy machinery sector. - RTRS.Deere, a leading maker of farm and construction equipment, said 100 employees will be placed on indefinite layoff effective April 1 in two of the company's factories in Iowa that make construction and forestry machinery.Caterpillar, the world's largest maker of construction and mining equipment, said it will halt production of its on-highway trucks, eliminating 70 jobs.Both companies have faced declining sales as global construction activity slows. Deere shares were up about 0.5 percent at $79.98 and Caterpillar shares were 1.6 percent higher at $67.53 in early trading.  Full Article

Caterpillar Inc combining two divisions, analysts see more job cuts - Reuters
Wednesday, 24 Feb 2016 01:25am EST 

Caterpillar Inc:Caterpillar Inc will combine two divisions dealing with power and energy by June, adding more details to a massive restructuring plan, and analysts were expecting more job cuts - RTRS.The company has closed plants and reduced its workforce in a restructuring announced last year as it copes with global weakness in construction and mining, soft commodity prices and slowed demand for heavy machinery.At the end of 2015, the global workforce totaled 105,700 employees, down nearly 11 percent from 2013.  Full Article

Caterpillar Inc lowers FY 2016 revenue guidance; gives FY 2016 profit outlook
Thursday, 28 Jan 2016 07:31am EST 

Caterpillar Inc:Expects FY 2016 sales and revenues to be in a range of $40 to $44 billion - a mid-point of $42 billion.Says mid-point of range reflects a decline of about $3.5 billion from last October's preliminary outlook for FY 2016 sales and revenues and a year-over-year decline of about 10 percent.Decrease from last October's preliminary outlook is largely a result of continued declines in commodity prices and economic weakness in developing countries.Profit outlook for FY 2016 is $3.50 per share at the mid-point of the sales and revenues range.Says additional restructuring actions are anticipated in FY 2016 outlook.Expect the cost of these restructuring actions in FY 2016 to be about $400 million or about $0.50 per share.Excluding restructuring costs, the company's profit outlook for 2016 is about $4.00 per share at the mid-point of sales and revenues range.  Full Article

Caterpillar IncCaterpillar Inc President Ed Rapp to retire
Friday, 11 Dec 2015 09:00am EST 

Caterpillar Inc:Caterpillar group president ed rapp to retire; will turn his focus to fighting amyotrophic lateral sclerosis (als).Says rapp will remain with Caterpillar and continue leading the resource industries group through early 2016.Says the company plans to announce a replacement for rapp in early 2016.I have recently been diagnosed with als", said ed rapp.  Full Article

Caterpillar Inc. maintains dividend rate
Wednesday, 9 Dec 2015 11:30am EST 

Caterpillar Inc:Says Board of Directors of co voted to maintain the quarterly cash dividend of $0.77 per share of common stock.Payable February 20, 2016, to stockholders of record at the close of business on January 20, 2016.  Full Article

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Caterpillar shares up on earnings beat; cuts 2016 outlook

Caterpillar Inc shares rallied Tuesday on better-than-expected second quarter earnings, even as the heavy machinery maker lowered its full-year forecast amid sluggish demand in mining and other industries.