Summary
Caterpillar Inc. (CAT) filed an 8-K on June 11, 2009, reporting on events from its 2009 Annual Meeting of Stockholders held on June 10, 2009. The key disclosure from the meeting involved a forward-looking statement by Chairman and CEO James W. Owens regarding the company's sales outlook. Mr. Owens expressed an "80 percent" probability that Caterpillar's sales would exceed $50 billion again within approximately five years, referencing the company's Vision 2020 long-term sales goals. This statement was made in the context of acknowledging the current challenging market conditions and the efforts to achieve these ambitious goals. Investors should note that this information is provided under Regulation FD and is not intended to be a guarantee, with actual results subject to various known and unknown risks and uncertainties as detailed in Caterpillar's SEC filings. The company reiterated its commitment to long-term growth despite the prevailing economic headwinds.
Key Highlights
- 1Caterpillar Inc. held its 2009 Annual Meeting of Stockholders on June 10, 2009.
- 2Chairman and CEO James W. Owens provided a sales outlook during the meeting.
- 3Owens stated an "80 percent" likelihood that Caterpillar's sales would surpass $50 billion within roughly 5 years.
- 4This sales projection is linked to the company's long-term Vision 2020 strategy.
- 5The remarks were made in the context of current economic challenges and efforts to achieve long-term goals.
- 6The information is disclosed under Regulation FD and is subject to forward-looking statement caveats.
- 7Caterpillar's 2008 sales and revenues were $51.324 billion.