What is the purpose of this 8-K filing?

This 8-K filing provides supplemental, unaudited information on Caterpillar's retail sales of machines and power systems to end users. The company offers this data to help investors better understand trends in demand, especially given the time lag between Caterpillar's sales to dealers and dealers' sales to end users.

How reliable is the retail sales data presented?

The data is based on unaudited reports voluntarily provided by Caterpillar's independent dealers and OEMs. While intended to indicate approximate trends and direction, it is not subject to Caterpillar's internal controls over financial reporting and may not be accurate or complete. It should not be considered a substitute for the company's audited financial statements.

Which segments are showing the strongest retail sales growth?

The Resource Industries segment appears to be experiencing the strongest growth, with global retail sales increasing significantly, ranging from 34% to 47% in the rolling three-month periods. The Construction Industries segment also shows solid growth globally, between 16% and 22%.

Are there any areas of concern in the retail sales data?

Within the Energy & Transportation segment, the Industrial sector showed a decline of 15% in September 2018, and the Transportation sector also experienced a decline of 6% in September 2018. These represent areas where end-user demand may be softening.

CAT 8-K: Regulation FD — Oct 22, 2018

Summary

Caterpillar Inc. (CAT) filed an 8-K on October 22, 2018, to provide supplemental information regarding retail sales of machines and power systems. This data, based on unaudited reports from dealers and OEMs, offers insights into end-user demand trends, which can differ from Caterpillar's direct sales due to dealer inventory dynamics. The report presents rolling three-month retail sales statistics, offering a near real-time view of market activity across different segments and geographic regions.

Key Highlights

1Supplemental disclosure of retail sales data for machines and power systems, provided by dealers and OEMs, to offer a better understanding of end-user demand.
2Rolling three-month retail sales statistics are presented for machines by geographic region (Asia/Pacific, EAME, Latin America, North America) and for total machines globally.
3Resource Industries segment showed particularly strong retail sales growth, with global figures up 34% to 47% across the reported periods.
4Construction Industries segment also demonstrated positive retail sales growth globally, ranging from 16% to 22%.
5Energy & Transportation segment's total retail sales saw an increase, driven by Power Generation and Oil & Gas, though Industrial and Transportation sectors experienced declines.
6The data is based on unaudited dealer reports and is intended to indicate trends and direction, not to substitute for audited financial statements.
7Caterpillar is not obligated to update or adjust prior period information provided in this report.

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Oct 22, 2018)

Summary

Key Highlights

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