Summary
Caterpillar Inc. (CAT) filed an 8-K on February 20, 2013, to provide supplemental information regarding retail sales of machines and power systems, as well as dealer statistics for the three-month rolling period ending January 2013. This information, which is based on unaudited dealer reports and is presented in constant dollars, aims to offer investors a better understanding of the company's business and the industries it serves, acknowledging the time lag between Caterpillar's sales to dealers and end-user deliveries. The report indicates a mixed performance across different regions and business sectors. Globally, retail sales of machines saw a 4% decrease in the three months leading up to January 2013 compared to the prior year, primarily driven by declines in North America (-11%) and Asia/Pacific (-12%), despite growth in Latin America (+3%) and EAME (+1%). Power systems, however, experienced a 7% decline overall, with significant weakness in the Industrial sector (-24%) and Electric Power (-9%), while the Petroleum sector remained flat.
Key Highlights
- 1The report provides supplementary data on retail sales volumes for machines and power systems based on dealer deliveries, offering insights into underlying business trends.
- 2For the three-month rolling period ending January 2013, global machine retail sales decreased by 4% year-over-year.
- 3North America and Asia/Pacific regions showed significant year-over-year declines in machine retail sales (-11% and -12% respectively).
- 4Latin America was a bright spot, with machine retail sales up 3% for the period.
- 5Overall power systems retail sales declined by 7% year-over-year for the three-month period.
- 6The Industrial sector within power systems experienced a substantial 24% year-over-year decrease in retail sales.
- 7Acquired businesses (Bucyrus machinery and MWM engines) are now being incorporated into the reported statistics, starting from January 2013.