United States

Caterpillar Inc (CAT)

CAT on New York Consolidated

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

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

Caterpillar Inc slashes revenue forecast, cutting up to 10,000 jobs - Reuters
Saturday, 24 Oct 2015 03:48pm EDT 

Caterpillar Inc:Caterpillar Inc slashed its 2015 revenue forecast on Thursday and said it will cut as many as 10,000 jobs through 2018, joining a list of big U.S. industrial companies grappling with the mining and energy downturn - RTRS.Peoria, Illinois-based Caterpillar, the world's biggest construction and mining equipment maker, has also been hit by a slowdown in industrial activity in China - RTRS.Caterpillar said it will cut 4,000 to 5,000 jobs by the end of 2016, most of them coming in 2015. It has already reduced its workforce by more than 31,000 since mid-2012 - RTRS.The company had 114,233 employees as of Dec. 31, 2014 according to Thomson Reuters data - RTRS.  Full Article

Caterpillar Inc reaffirms FY 2015 revenue outlook; updates FY 2015 earnings outlook; gives FY 2016 revenue outlook
Thursday, 22 Oct 2015 07:30am EDT 

Caterpillar Inc:Says FY 2015 outlook for sales and revenues is about $48 billion, and that is unchanged from the outlook that was included with Sept. 24 announcement of new restructuring actions.Says outlook for profit per share is about $3.70, or $4.60 excluding restructuring costs.Says expectation for FY 2015 restructuring costs has increased significantly, from about $250 million to about $800 million, and is a result of the additional restructuring actions.Says previous outlook for profit per share was provided in late July along with second-quarter 2015 financial results.Says that at that time, the outlook for profit per share was $4.70, or $5.00 excluding restructuring costs and was based on sales and revenues of about $49 billion.Expects FY 2016 sales and revenues to be about 5 percent below FY 2015.  Full Article


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.