8-KRegulation FD

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

Filed May 13, 2019For Securities:CAT

Summary

Caterpillar Inc. filed an 8-K on May 13, 2019, to provide supplemental information on retail sales of machines and power systems, which are key indicators of underlying demand in the industries it serves. This data, based on voluntary dealer reports and unaudited, offers a more current view of market activity than Caterpillar's official financial statements, which have a time lag. The report covers rolling three-month periods, providing insights into trends in different geographic regions and industry segments. For the three-month period ended April 2019, overall retail machine sales globally showed a positive trend, up 7%, driven by strong performance in North America and Latin America. The Resource Industries segment showed particularly robust growth globally (up 18%), largely due to significant increases in Latin America and North America. The Construction Industries segment also saw global growth (up 4%), with North America and Latin America being key contributors, though Asia/Pacific experienced a slight decline. The Energy & Transportation segment showed mixed results, with Power Generation sales up significantly, while Oil & Gas and Transportation experienced declines.

Key Highlights

  • 1Caterpillar is providing supplemental, unaudited retail sales data for machines and power systems to offer a more timely view of market trends.
  • 2Global retail machine sales for the 3-month period ended April 2019 increased by 7% year-over-year.
  • 3The Resource Industries segment demonstrated strong global retail sales growth, up 18% for the 3-month period ended April 2019.
  • 4North America and Latin America were significant drivers of positive retail machine sales growth across multiple segments.
  • 5Asia/Pacific region showed mixed performance for machine retail sales, with Resource Industries up significantly but Construction Industries down slightly.
  • 6Energy & Transportation segment saw Power Generation retail sales increase by 16% for the 3-month period ended April 2019, but Oil & Gas and Transportation experienced declines.
  • 7The data is based on voluntary dealer reports and is not subject to internal controls, serving as an indicator of trends rather than a substitute for audited financial statements.

Frequently Asked Questions

The purpose of this 8-K filing is to provide investors with supplemental, unaudited information on Caterpillar's retail sales of machines and power systems. This data is intended to offer a more current indication of business and industry trends than the company's official financial statements, which have a reporting lag.

Investors should interpret this data as an indicator of trends and the general direction and magnitude of demand in Caterpillar's key markets. It is based on voluntary dealer reports and is unaudited, so it is not a substitute for the company's official financial results and should be considered alongside other financial information.

For the three-month rolling period ended April 2019, North America and Latin America showed strong positive growth in retail machine sales across several segments. The Asia/Pacific region showed mixed results, with significant growth in Resource Industries but a slight decline in Construction Industries.

The Energy & Transportation segment reported mixed results. Power Generation retail sales saw a significant increase of 16% for the three-month period ended April 2019. However, the Oil & Gas and Transportation sub-segments experienced declines in retail sales during the same period.