Summary
This Form 8-K filing by Caterpillar Inc. (CAT) provides an update on dealer statistics for its Machinery and Engines segments for the three-month rolling period ending May 2010. The report highlights that retail sales of machines showed a significant rebound in Asia/Pacific, with a 38% increase year-over-year, and a positive 15% increase in North America. However, other regions like EAME and Latin America continued to experience declines. For the Engines segment, while Electric Power and Industrial sectors saw modest year-over-year growth in May, the Marine and Petroleum sectors continued to face significant declines. This supplemental information, based on unaudited dealer reports, offers a glimpse into regional demand trends and the performance of specific business lines, which investors can use to assess the company's operational momentum in the post-recessionary environment.
Key Highlights
- 1Retail sales of Caterpillar machines in Asia/Pacific increased by 38% for the three-month rolling period ending May 2010, indicating a strong recovery in this key market.
- 2North America also showed positive momentum for machine sales, with a 15% increase year-over-year for the period.
- 3The EAME (Europe, Africa, and Middle East) and Latin America regions experienced continued year-over-year declines in machine sales, down 8% and 2% respectively in May.
- 4The Engines segment's Electric Power business saw a 4% increase in retail sales in May, a positive sign for this sector.
- 5However, the Marine and Petroleum sectors within the Engines business continued to struggle, with significant year-over-year declines of 27% and 20% respectively in May.
- 6This information is based on unaudited reports from independent dealers and is presented in constant dollars, providing a view of underlying volume trends.
- 7Caterpillar emphasizes that these dealer statistics are supplemental and not subject to internal controls over financial reporting, nor does the company undertake to update this information.