Summary
Caterpillar Inc. (CAT) filed an 8-K on November 13, 2018, to provide supplemental, unaudited information on rolling 3-month retail sales statistics. This data, based on voluntary reports from independent dealers, offers an approximate indication of trends in machine and power system sales to end users and OEMs, addressing the time lag between Caterpillar's sales to dealers and dealers' subsequent sales. The filing presents data by geographic region for its Construction Industries and Resource Industries segments, and by major end-use for its Energy & Transportation segment. This information is intended to provide readers with a better understanding of business trends and is not a substitute for audited financial statements. Key trends highlighted for the rolling 3-month period ending October 2018 indicate robust global retail sales growth, particularly strong in the Resource Industries segment. Asia/Pacific and Latin America regions showed significant increases across machine segments. The Energy & Transportation segment experienced mixed results, with Power Generation and Oil & Gas showing positive momentum, while Industrial and Transportation segments saw declines. Investors should note that this data is unaudited and based on third-party reports, and Caterpillar has included a comprehensive list of risk factors that could materially affect actual results.
Key Highlights
- 1Caterpillar is voluntarily providing supplemental, unaudited rolling 3-month retail sales data for machines and power systems.
- 2The data is based on voluntary reports from independent dealers and OEMs, intended to show trends rather than predict financial results.
- 3Global retail sales of machines showed a positive trend, with a 18% increase in the world for the 3-month period ending October 2018.
- 4The Resource Industries segment demonstrated exceptional strength, with global retail sales up 46% for the same period.
- 5Construction Industries also saw positive global retail sales growth of 12%.
- 6The Asia/Pacific and Latin America regions exhibited particularly strong retail sales growth across both machine segments.
- 7Energy & Transportation segment's total retail sales were up 7% globally, driven by Power Generation and Oil & Gas, but offset by declines in Industrial and Transportation.