Summary
Caterpillar Inc. (CAT) filed this Form 8-K on June 18, 2009, to provide supplemental information regarding dealer statistics for its Machinery and Engines businesses for the three months ending May 2009. This data, based on unaudited reports from independent dealers, offers insights into end-user demand and is presented in constant dollars to aid in understanding business trends. The report indicates a significant downturn in retail sales across most major regions for machinery, with North America experiencing a particularly sharp decline of 57% for the three-month rolling period ending May 2009 compared to the prior year. Similarly, the Engines segment also shows widespread declines, with the Truck & Bus sector seeing a severe 75% drop. However, some pockets of strength exist, such as the Marine sector showing 20% growth and Petroleum showing a modest 5% decline for the same period.
Key Highlights
- 1Supplemental dealer statistics for May 2009 provided for Machinery and Engines lines of business.
- 2Data is based on unaudited dealer reports and represents deliveries to end-users, not Caterpillar's direct sales.
- 3Machinery retail sales showed significant declines across most regions, with North America down 57% for the 3-month period ending May 2009.
- 4Asia/Pacific machinery sales declined 13% for the 3-month period ending May 2009 (excluding Cat Japan's historical impact).
- 5Engines segment experienced mixed results: Truck & Bus sales down 75%, Electric Power down 25%, and Industrial down 37% for the 3-month period ending May 2009.
- 6Positive growth noted in the Engines segment for Marine (up 20%) and Petroleum (down 5%) for the 3-month period ending May 2009.
- 7Caterpillar is incorporating 'Cat Japan' into its Asia/Pacific reporting for future statistics.