8-KRegulation FDExhibits & Filings

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Feb 13, 2020)

Filed February 13, 2020For Securities:CAT

Summary

Caterpillar Inc. (CAT) filed an 8-K on February 13, 2020, to provide supplemental information regarding its retail sales of machines and power systems for the three-month rolling period ending January 2020, December 2019, and November 2019. This data is based on unaudited reports from its independent dealers and is intended to offer an approximate indication of sales trends, not a substitute for audited financial statements. The report aims to provide investors with better insight into Caterpillar's business and the industries it serves, particularly given the time lag between Caterpillar's sales to dealers and dealers' sales to end-users. The data reveals mixed trends across different segments and geographies. While the Energy & Transportation segment showed overall declines in retail sales, driven by a significant drop in the Oil & Gas sub-segment, the Resource Industries segment saw some positive growth in Asia/Pacific but continued declines in other regions. The Construction Industries segment also presented a mixed picture with declines in North America and Asia/Pacific, offset by growth in Latin America and a slight positive in North America for the rolling three months ending November 2019.

Key Highlights

  • 1Caterpillar is voluntarily providing supplemental, unaudited retail sales data for machines and power systems based on dealer reports.
  • 2This data is intended to provide an approximate indication of sales trends and is not a substitute for audited financial statements.
  • 3The Energy & Transportation segment experienced a decline in total retail sales, primarily due to an 11% decrease in Oil & Gas sales for the three months ending January 2020.
  • 4Resource Industries segment showed a strong positive trend in Asia/Pacific (up 31% for Jan 2020) but continued to decline in EAME and Latin America.
  • 5Construction Industries segment saw mixed performance with declines in North America and Asia/Pacific, while Latin America showed growth.
  • 6North America retail sales for Total Machines were down 7% for the three months ending January 2020, indicating ongoing weakness in this key market.
  • 7The report highlights the time lag between Caterpillar's sales to dealers and dealers' sales to end-users as a reason for providing this supplemental information.

Frequently Asked Questions

This 8-K filing is for informational purposes, providing supplemental, unaudited retail sales data for Caterpillar's machines and power systems. It aims to offer investors a clearer understanding of sales trends in various segments and regions, given the typical delay between sales to dealers and sales to end-users.

The data is based on unaudited reports voluntarily provided by Caterpillar's independent dealers and is not subject to Caterpillar's internal financial controls. Therefore, the information is presented as an approximate indication of trends and should not be considered a substitute for Caterpillar's audited financial statements.

For the three-month rolling period ended January 2020, the Energy & Transportation segment saw a 2% decline in total retail sales. This was largely driven by a significant 11% decrease in the Oil & Gas sub-segment, while Power Generation, Industrial, and Transportation sub-segments showed modest growth or slight declines.

The Construction Industries segment experienced a 6% decline in global retail machine sales for the three months ending January 2020. Performance varied by region, with declines in North America and Asia/Pacific, but growth in Latin America. The Resource Industries segment showed mixed results, with strong growth in Asia/Pacific (up 31%) but continued declines in EAME and Latin America.