8-KRegulation FDExhibits & Filings

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Jan 31, 2020)

Filed January 31, 2020For Securities:CAT

Summary

This 8-K filing from Caterpillar Inc. provides supplemental information on retail sales of machines and power systems, offering a look at end-user demand trends. The data, based on unaudited dealer reports, is intended to provide an approximate indication of trends and is not a substitute for audited financial statements. Key insights reveal mixed performance across segments and regions, with some areas showing declines and others modest growth in the three months ending December 2019. Of particular note, the Construction Industries segment showed a global decline in retail machine sales, driven by weakness in North America and EAME. However, Resource Industries experienced a global upturn, largely due to positive performance in Asia/Pacific. The Energy & Transportation segment reported a mixed bag, with significant growth in Transportation and Power Generation offset by a notable decline in Oil & Gas. Investors should view this information as a directional indicator of market conditions impacting Caterpillar's business, with the understanding that these figures are preliminary and subject to various factors, including dealer reporting accuracy and broader economic influences. The company emphasizes that actual results may differ materially from any implied trends due to a wide range of risks and uncertainties.

Key Highlights

  • 1Caterpillar is providing supplemental, unaudited data on retail sales of machines and power systems to end users and OEMs.
  • 2The data reflects a rolling three-month period ending December 2019 and is reported in constant dollars.
  • 3Total machine retail sales globally were down 5% in December 2019 compared to the prior year, following a flat result in November and a 3% increase in October.
  • 4Construction Industries segment saw a 3% global decline in retail machine sales for the three months ending December 2019, with North America and EAME experiencing notable decreases.
  • 5Resource Industries segment showed a positive global trend with a 7% increase in retail machine sales for the three months ending December 2019, driven by Asia/Pacific growth.
  • 6Energy & Transportation segment's total retail sales were down 3% for the three months ending December 2019, with significant growth in Transportation and Power Generation offset by a sharp decline in Oil & Gas.
  • 7The company stresses that this data is an approximate indication of trends and not a substitute for audited financial statements, with potential inaccuracies from third-party reporting.

Frequently Asked Questions

The primary purpose of this 8-K filing is to furnish supplemental, unaudited information regarding Caterpillar's retail sales of machines and power systems. This data is intended to provide investors with a more current, albeit approximate, indication of sales trends at the end-user level, bridging the time gap between Caterpillar's sales to dealers and dealers' sales to end users.

The retail sales figures should be interpreted as directional indicators of market trends and business performance, rather than precise financial results. Caterpillar explicitly states that the data is based on unaudited reports from dealers and may not be accurate or complete. It is not a substitute for the company's audited financial statements.

Yes, the filing highlights mixed performance. The Resource Industries segment showed global strength with a 7% increase in retail sales for the period, particularly in Asia/Pacific. Conversely, the Construction Industries segment experienced a global decline, with notable weakness in North America and EAME. The Energy & Transportation segment saw strong growth in Transportation and Power Generation but a significant downturn in Oil & Gas.

The primary limitations are that the data is unaudited, based on voluntary reports from independent dealers, and may not be accurate or complete. Caterpillar does not undertake to update or adjust prior period information, and the figures are intended solely to convey an approximate indication of trends, not as an estimate, approximation, or prediction of audited financial results.