8-KRegulation FD

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Jun 20, 2012)

Filed June 20, 2012For Securities:CAT

Summary

This Form 8-K filing from Caterpillar Inc. (CAT) provides supplemental information regarding retail sales of machines and power systems for the three-month rolling period ending May 2012, compared to the same period in the prior year. The disclosure aims to offer investors a better understanding of Caterpillar's business and served industries by reporting on dealer delivery statistics, which lag Caterpillar's direct sales. Key trends highlighted include robust growth in North America for machine retail sales, while Asia/Pacific and EAME (Europe, Africa, Middle East) showed moderate increases. Latin America experienced a decline. In the Power Systems segment, the Petroleum sector showed significant strength, while Electric Power and Industrial sectors saw declines. The Transportation sector, which now includes Electro-Motive Diesel (EMD) sales, demonstrated positive growth. Investors should note that this data is based on unaudited reports from independent dealers and is presented in constant dollars.

Key Highlights

  • 1Caterpillar is providing supplemental, unaudited dealer delivery statistics for machine and power systems retail sales for the 3-month rolling period ending May 2012.
  • 2Machine retail sales in North America showed strong year-over-year growth (UP 31% for the 3-month period ending May 2012).
  • 3Asia/Pacific and EAME (Europe, Africa, Middle East) regions also reported positive growth in machine retail sales, though at lower rates than North America.
  • 4Latin America experienced a decline in machine retail sales for the reported period.
  • 5The Power Systems segment showed mixed results: Petroleum sector strong (UP 25%), Transportation growing (UP 9%), but Electric Power and Industrial sectors declining.
  • 6The inclusion of EMD sales in the Transportation sector, starting January 2012, impacts comparisons for that segment.
  • 7The data is provided in constant dollars and based on unit sales reported by dealers, offering insights into end-user demand trends.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with supplemental, unaudited information on retail sales of Caterpillar's machines and power systems, based on statistics from its independent dealers. This data aims to offer a clearer view of end-user demand trends, bridging the gap between Caterpillar's sales to dealers and dealer deliveries to end customers.

The 'Retail Sales' figures represent deliveries to end users by Caterpillar's independent dealers. They are reported in constant dollars and based on unit sales. Due to time lags between Caterpillar's sales to dealers and dealer deliveries, this data provides a more immediate, albeit unaudited, snapshot of market activity and demand in various regions and sectors.

The mixed performance in the Power Systems segment reflects diverse demand drivers across different industries. The strong performance in Petroleum is likely tied to energy sector activity. The Transportation sector's growth, bolstered by the inclusion of EMD, indicates demand in rail and related infrastructure. Declines in Electric Power and Industrial sectors may signal slower investment or demand in those specific areas, potentially influenced by broader economic conditions or industry-specific cycles.

The data presented is based on unaudited reports from Caterpillar's independent dealers and is not subject to Caterpillar's internal controls over financial reporting. Furthermore, the filing includes a disclaimer that actual results may differ materially from forward-looking statements due to various risk factors, including global economic conditions, commodity prices, liquidity, political risks, and competitive environment changes, among others.