8-KRegulation FD

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Sep 21, 2009)

Filed September 21, 2009For Securities:CAT

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.

Frequently Asked Questions

This 8-K filing is to provide supplemental, unaudited information to investors regarding dealer statistics for Caterpillar's Machinery and Engines businesses. It aims to offer insights into the demand for Caterpillar's products by showing retail deliveries to end-users and OEMs through its independent dealer network, helping to understand the current business and industry environment.

The information presented is based on unaudited reports provided by Caterpillar's independent dealers and is not subject to Caterpillar's internal controls over financial reporting. Therefore, while it offers a useful snapshot of market activity, it should be viewed as supplemental and not as audited financial data.

The data indicates a significant decline in retail deliveries across most of Caterpillar's product lines and geographic regions for the three-month rolling period ending August 2009, when compared to the prior year. This suggests a challenging demand environment, particularly in North America and for engine sales in the Truck & Bus sector.

The only positive trend highlighted in the filing is for the Marine engine sector, which experienced a 13% increase in retail sales for the three-month rolling period ending August 2009 compared to the same period in the prior year.