Summary
Caterpillar Inc. (CAT) filed an 8-K on April 24, 2019, providing supplemental information on retail sales of machines and power systems. This report offers insights into end-user demand trends, supplementing the company's official financial reporting. The data, based on unaudited dealer reports, covers rolling three-month periods ending in March, February, and January 2019, compared to the prior year. Key trends indicate a mixed global retail sales environment for machines. The 'World' total machines category showed positive growth across the periods, driven by strong performance in North America and Latin America. However, specific segments and regions displayed varied trajectories. Resource Industries saw robust growth globally, particularly in Latin America and North America, while Construction Industries showed more moderate but positive global growth, with North America and Latin America being key contributors. The Energy & Transportation segment, however, experienced declines in Total sales, with notable weakness in the Transportation and Oil & Gas sub-sectors, despite some positive indications in Power Generation and Industrial markets earlier in the period.
Key Highlights
- 1Global retail sales of total machines showed a positive trend, increasing by 8% for the three-month period ending March 2019 compared to the prior year.
- 2North America was a strong performer for total machine retail sales, with a 14% increase for the period ending March 2019.
- 3Resource Industries experienced significant global retail sales growth, up 17% for the period ending March 2019, led by substantial increases in Latin America (+43%) and North America (+19%).
- 4Construction Industries demonstrated steady global retail sales growth of 6% for the period ending March 2019, with North America showing a 13% increase.
- 5The Energy & Transportation segment's total retail sales declined by 4% for the period ending March 2019, primarily due to a 12% decrease in Transportation sales and an 8% decrease in Oil & Gas sales.
- 6Asia/Pacific region showed a mixed performance for machine sales: positive for Total Machines (+6% in March 2019) and Resource Industries (+49% in March 2019), but negative for Construction Industries (-1% in March 2019).
- 7The disclosed information is based on unaudited dealer reports and is intended to provide an indication of trends, not a substitute for audited financial statements.