8-K/ARegulation FD

CATERPILLAR INC 8-K/A Report, Regulation FD Disclosure (May 20, 2009)

Filed May 20, 2009For Securities:CAT

Summary

This Form 8-K/A filing from Caterpillar Inc. (CAT) on May 20, 2009, is an amendment to a previous filing, correcting a typographical error and reissuing the dealer statistics for April 2009. The report provides supplemental information on retail sales of machinery and engines to end-users, offering insight into the company's business and the industries it serves, despite a delay between Caterpillar's sales to dealers and dealer deliveries to end-users. Of particular note for investors is the significant year-over-year decline in retail sales across most regions and business segments for the three-month rolling period ending April 2009. This downturn reflects the challenging economic environment of the time, with substantial decreases reported in North America for machinery and in the Truck & Bus engine segment. The company also clarifies its reporting methodology regarding Cat Japan, which will now be incorporated into the Asia/Pacific region's statistics.

Key Highlights

  • 1Amendment to a previous 8-K filing due to a typographical error, reissuing April 2009 dealer statistics.
  • 2Provides supplemental information on retail sales to end-users, offering a glimpse into dealer-level activity.
  • 3Significant year-over-year declines observed in retail sales of machinery across most regions, particularly North America (-51% in April rolling 3-month period).
  • 4The Asia/Pacific region, excluding Cat Japan, saw a 13% decrease in machinery sales for the rolling 3-month period ending April 2009.
  • 5Substantial declines in engine sales, especially in the Truck & Bus segment (-69% in April rolling 3-month period).
  • 6Cat Japan's data will now be consolidated into the Asia/Pacific region's statistics, rather than reported separately.
  • 7The provided statistics are unaudited, based on dealer reports, and are not subject to Caterpillar's internal financial controls.

Frequently Asked Questions

This filing is an amendment (Amendment No. 1) to a previous Form 8-K filed on May 20, 2009. Its main purpose is to correct a typographical error in the original filing and re-issue the dealer statistics for April 2009.

Caterpillar sells most of its machinery and engines to independent dealers who then deliver to end-users. Due to the time lag between Caterpillar's sales to dealers and dealer deliveries to end-users, these statistics are provided as supplemental information to help investors better understand the company's business and the industries it serves.

The statistics reveal a challenging market environment, with significant year-over-year declines in retail sales for machinery in most regions, most notably North America. Engine sales also show considerable decreases, particularly in the Truck & Bus segment. This indicates a slowdown in customer demand for Caterpillar's products.

Starting with the April 2009 reporting, Cat Japan's data will no longer be reported separately. Instead, it will be incorporated into the statistics for the Asia/Pacific region. Previous months' data is provided with and without Cat Japan for historical context.