8-KRegulation FD

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Feb 13, 2019)

Filed February 13, 2019For Securities:CAT

Summary

Caterpillar Inc. (CAT) filed an 8-K on February 13, 2019, to provide supplemental information regarding retail sales of machines and power systems. This data, based on unaudited dealer reports and presented in constant dollars, offers insights into end-user demand trends. The company emphasizes that this information is an approximation and not a substitute for audited financial statements, serving to enhance understanding of business dynamics given the lag between Caterpillar's sales to dealers and dealer sales to end-users. The report details rolling 3-month retail sales statistics by geographic region for the Construction and Resource Industries segments, as well as by major end-use for the Energy & Transportation segment. This supplemental disclosure aims to provide investors with a more current view of market activity and demand drivers across Caterpillar's diverse business units.

Key Highlights

  • 1The 8-K provides supplemental, unaudited retail sales data for machines and power systems as of January 2019, December 2018, and November 2018, compared to the prior year.
  • 2Global retail sales of total machines showed a positive trend, increasing by 9% for the rolling 3-month period ending January 2019.
  • 3The Construction Industries segment's global retail machine sales increased by 7% for the rolling 3-month period ending January 2019, with strong growth in North America (+15%) and EAME (+12%).
  • 4The Resource Industries segment experienced a significant global retail machine sales increase of 17% for the rolling 3-month period ending January 2019, driven by robust performance in North America (+44%) and Asia/Pacific (+23%).
  • 5Retail sales for Energy & Transportation showed a global increase of 8% for the rolling 3-month period ending January 2019, with Power Generation and Transportation sectors showing notable growth.
  • 6The data is presented in constant dollars and based on dealer-reported unit sales, serving as an indicator of trends rather than a predictor of audited financial results.
  • 7Caterpillar highlights that this data is based on unaudited reports from independent dealers and may not be accurate or complete, urging investors to consult official SEC filings for financial statements.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide supplemental, unaudited information on Caterpillar's retail sales of machines and power systems to end users and OEMs. This data is intended to give investors a more current view of demand trends across different segments and regions, given the time lag between Caterpillar's sales to its dealers and the dealers' sales to end users.

The retail sales data presented is based on unaudited reports voluntarily provided by Caterpillar's independent dealers and is not subject to Caterpillar's internal controls over financial reporting. Caterpillar explicitly states that this data may not be accurate or complete and is intended solely to convey an approximate indication of trends, not as an estimate, approximation, or substitute for audited financial statements.

For the rolling 3-month period ending January 2019, the Resource Industries segment showed the strongest global retail machine sales growth at 17%. Within this segment, North America experienced a significant increase of 44%. The Energy & Transportation segment also demonstrated healthy growth of 8% globally, with Power Generation and Transportation sectors showing particular strength.

No, this retail sales data is a supplemental disclosure and does not reflect Caterpillar's actual financial performance. It is based on unaudited dealer reports and is provided to indicate trends in end-user demand. Investors should refer to Caterpillar's official audited financial statements filed with the SEC for an accurate representation of the company's financial results.