Summary
Caterpillar Inc. (CAT) filed an 8-K on October 20, 2009, providing supplemental data on dealer sales for its Machinery and Engines segments for the three-month rolling period ending September 2009. This report offers insights into the company's performance by reflecting retail sales, which are a proxy for end-user demand, as Caterpillar sells primarily through independent dealers. The data indicates a continued and significant downturn in sales across all major geographic regions and business sectors, reflecting the challenging global economic environment of late 2009.
Key Highlights
- 1Dealer statistics for the three-month rolling period ending September 2009 show significant year-over-year declines in retail sales for Caterpillar's Machinery and Engines lines.
- 2The Asia/Pacific region experienced a 40% decrease in machinery retail sales, while EAME (Europe, Africa, and Middle East) saw a 55% decline.
- 3North America reported a sharp 60% decrease in machinery retail sales, indicating a severe contraction in the domestic market.
- 4Globally, machinery retail sales decreased by 52% for the period.
- 5The Engines segment also faced substantial declines, with Truck & Bus sales down 68% and Industrial engines down 49%.
- 6Despite a slight upswing in Marine engines in August and September compared to prior months, the overall trend for engines was negative, with a total decrease of 27% for September.
- 7The company emphasizes that this data is based on unaudited reports from independent dealers and is presented in constant dollars to provide a clearer view of underlying trends.