Summary
Caterpillar Inc. (CAT) filed an 8-K on September 21, 2009, to provide supplemental information regarding dealer statistics for its Machinery and Engines segments. This report offers insights into retail sales of machines and engines to end-users and Original Equipment Manufacturers (OEMs) through its independent dealer network. The data presented is unaudited and based on dealer reports, calculated in constant dollars, and aims to provide a better understanding of Caterpillar's business and the industries it serves, acknowledging potential time delays between Caterpillar's sales to dealers and dealer deliveries to end-users. The filing reveals a significant downturn in dealer deliveries across most major regions and business sectors for the three-month rolling period ending in August 2009, compared to the prior year. Notably, North America experienced a substantial decline of 57% in machine deliveries, while the "World" aggregate showed a 48% decrease. The Engines segment also saw widespread declines, with the Truck & Bus sector down 69% and "Total" engines down 27%. The only area showing positive, albeit modest, growth was Marine engines, up 13%. This information is crucial for investors to gauge the immediate demand environment for Caterpillar's products amidst the prevailing economic conditions of 2009.
Key Highlights
- 1Caterpillar is providing unaudited, supplemental dealer statistics for its Machinery and Engines segments to enhance investor understanding of market demand.
- 2The data reflects retail deliveries to end-users and OEMs through Caterpillar's independent dealer network and is presented in constant dollars.
- 3For the three-month period ending August 2009, global retail machine deliveries to end-users decreased by 48% compared to the same period in the prior year.
- 4North America experienced the most severe decline in machine deliveries, with a 57% drop for the three-month rolling period ending August 2009.
- 5The Engines segment also saw significant declines, with total retail sales down 27% for the three-month period ending August 2009.
- 6The Truck & Bus engine sector experienced a substantial 69% decrease in deliveries for the three-month rolling period.
- 7Marine engines were the only sector showing positive growth, with retail sales up 13% for the three-month period ending August 2009.