8-KRegulation FD

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Sep 21, 2012)

Filed September 21, 2012For Securities:CAT

Summary

Caterpillar Inc. (CAT) filed an 8-K on September 21, 2012, to provide supplemental information on retail sales of machines and power systems for the three-month rolling period ending August 2012, compared to the same period in the prior year. This disclosure aims to offer investors a clearer understanding of the company's business performance and the industries it serves, acknowledging the time lag between sales to dealers and deliveries to end-users. The data indicates a mixed performance across different segments and regions. While the overall "World" retail sales of machines showed a modest increase of 13% for the rolling three months ending August 2012, driven significantly by robust growth in Asia/Pacific (up 27%) and North America (up 24%), other regions presented challenges. The EAME region remained flat, and Latin America experienced a decline in machine sales. For Power Systems, the "Total" segment saw a slight increase of 3%, but this was a deceleration from prior months, with notable strength in Petroleum (up 14%) and Transportation (up 9%), while Electric Power and Industrial sectors continued to decline.

Key Highlights

  • 1Caterpillar is providing supplemental, unaudited dealer statistics on retail sales for machines and power systems as of August 2012.
  • 2The "World" retail sales of machines showed a 13% increase for the rolling 3-month period ending August 2012 compared to the prior year.
  • 3Asia/Pacific and North America were strong performers for machine retail sales, with increases of 27% and 24% respectively over the rolling 3-month period.
  • 4EAME (Europe, Africa, and Middle East) and Latin America experienced flat to declining retail sales for machines.
  • 5The Power Systems segment overall saw a 3% increase in retail sales for the rolling 3-month period, a slowdown from previous months.
  • 6Petroleum and Transportation sectors within Power Systems demonstrated positive retail sales growth, up 14% and 9% respectively.
  • 7Electric Power and Industrial sectors within Power Systems continued to show negative retail sales trends.
  • 8The company notes that sales data is based on unaudited reports from independent dealers and may not be subject to internal controls.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with supplemental, unaudited information regarding Caterpillar's retail sales of machines and power systems. This data offers insights into the company's business performance and the demand in the industries it serves, recognizing the time lag between Caterpillar's sales to dealers and the dealers' sales to end-users.

The retail sales figures are presented for a rolling three-month period (ending August 2012, July 2012, and June 2012) and are compared against the same periods in the prior year. These figures are reported in constant dollars and are based primarily on unaudited reports from Caterpillar's independent dealers and direct sales. The company explicitly states that this information is not subject to Caterpillar's internal controls over financial reporting.

Asia/Pacific and North America showed the strongest performance in machine retail sales, with increases of 27% and 24% respectively for the rolling three-month period ending August 2012. The EAME (Europe, Africa, and Middle East) region was flat, and Latin America experienced declines in machine retail sales.

The Power Systems segment showed a modest overall increase of 3% in retail sales for the rolling three-month period ending August 2012. The Petroleum (up 14%) and Transportation (up 9%) sectors performed well. However, the Electric Power and Industrial sectors continued to experience declining retail sales.