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.