Summary
Caterpillar Inc. filed an 8-K on December 20, 2016, to provide supplemental information on its retail sales statistics for November 2016. This report focuses on end-user sales of machines and power systems, offering insights into regional and industry-specific trends. While the data is unaudited and voluntarily provided by dealers, it aims to give investors a clearer picture of business activity and industry demand, bridging the gap between Caterpillar's sales to dealers and dealer sales to end customers. The data for the three-month rolling period ending November 2016 indicates a continued decline in global retail sales for machines, down 17% year-over-year. The Energy & Transportation segment also saw a significant decrease in retail sales, down 25% for the same period. Performance varied by region and industry, with Asia/Pacific showing resilience in Construction Industries machine sales, while other regions and segments experienced considerable contraction.
Key Highlights
- 1Global retail sales of Caterpillar machines declined by 17% for the three-month rolling period ended November 2016, compared to the prior year.
- 2Construction Industries machine sales globally decreased by 15% in the same three-month period.
- 3Resource Industries machine sales experienced a steeper decline of 24% globally for the three-month period ended November 2016.
- 4The Energy & Transportation segment saw a total retail sales decline of 25% for the three-month rolling period ended November 2016.
- 5Asia/Pacific region showed a positive trend for Construction Industries machine retail sales, up 11% for the period ended November 2016.
- 6The EAME region experienced significant downturns across both Construction Industries (down 24%) and Resource Industries (down 30%) machine sales.
- 7North America continues to show weakness, with Construction Industries machine sales down 17% and Resource Industries down 28% for the period.