Summary
Caterpillar Inc. (CAT) filed an 8-K on March 17, 2016, to disclose financial guidance provided at the Bank of America Merrill Lynch Global Industrials Conference. The company expects first-quarter 2016 sales and revenues to be in the range of $9.3 to $9.4 billion. Profit estimates for the first quarter were set between $0.50 to $0.55 per share, with an adjusted figure of $0.65 to $0.70 per share, excluding restructuring costs.
Key Highlights
- 1Caterpillar provided Q1 2016 sales and revenue guidance of $9.3 to $9.4 billion.
- 2Q1 2016 profit per share is estimated to be between $0.50 and $0.55.
- 3Excluding restructuring costs, Q1 2016 profit per share is expected to be $0.65 to $0.70.
- 4The company reiterated its comfort with the previously issued full-year 2016 guidance for sales, revenues, and profit per share.
- 5This guidance was originally provided in a Form 8-K filed on January 28, 2016.
- 6The disclosure was made during the Bank of America Merrill Lynch Global Industrials Conference on March 17, 2016.
Frequently Asked Questions
This 8-K filing is primarily for Regulation FD disclosure, reporting financial guidance provided by Caterpillar representatives at the Bank of America Merrill Lynch Global Industrials Conference. It details expected sales, revenues, and profit per share for the first quarter of 2016.
No, Caterpillar stated that they remain comfortable with the full-year guidance for 2016 sales and revenues and profit per share that was previously communicated in their January 28, 2016 8-K filing. This filing did not introduce new full-year guidance but confirmed existing expectations.
The reported Q1 2016 profit per share estimate is $0.50 to $0.55. The estimate excluding restructuring costs is higher, at $0.65 to $0.70 per share, indicating the impact of planned restructuring activities on the company's reported earnings for the quarter.