Summary
This 8-K filing from Caterpillar Inc. (CAT) on February 18, 2010, provides supplemental data on dealer statistics for the three-month rolling period ending January 2010. The report indicates a continued downward trend in retail sales of machines and engines to end-users across most major marketing regions and business sectors. This unaudited information, based on dealer reports and calculated in constant dollars, is intended to offer investors a better understanding of Caterpillar's business and the industries it serves, acknowledging the time lag between Caterpillar's sales to dealers and dealer deliveries to end-users. Key areas of concern include significant year-over-year declines in sales for the "World" region (down 27%), North America (down 40%), and EAME (down 35%) for machines. Engine sales also show weakness, with "Total" engine sales down 33%. While some regions like Asia/Pacific showed a slight improvement in January 2010 compared to December 2009, the overall trend for the past three months compared to the prior year remains negative, reflecting the challenging economic environment of the period.
Key Highlights
- 1Caterpillar is providing unaudited supplemental data on dealer deliveries for its Machinery and Engines businesses for the 3-month rolling period ending January 2010.
- 2The "World" region saw a 27% decrease in dealer machine sales for the 3-month period compared to the prior year.
- 3North America experienced a significant 40% decline in dealer machine sales for the same period.
- 4EAME (Europe, Africa, and Middle East) region reported a 35% decrease in dealer machine sales year-over-year.
- 5Total engine sales to retail users and OEMs also declined by 33% for the 3-month period.
- 6Asia/Pacific showed a modest 1% increase in January 2010, but the 3-month rolling average for the region was still down.
- 7The data is presented in constant dollars and is based on reports from independent dealers, not subject to Caterpillar's internal financial controls.