8-KRegulation FDExhibits & Filings

CATERPILLAR INC 8-K Report, Regulation FD Disclosure (Jun 12, 2020)

Filed June 12, 2020For Securities:CAT

Summary

Caterpillar Inc. (CAT) filed an 8-K on June 12, 2020, to provide supplemental information regarding retail sales of machines and power systems. This filing focuses on unaudited, voluntary reports from dealers to offer insights into end-user demand trends, which may differ from Caterpillar's direct sales to dealers due to a time lag. The data presented is intended to indicate approximate trends and is not a substitute for Caterpillar's audited financial statements. The report details rolling three-month retail sales statistics as of March, April, and May 2020, broken down by geographic region for Construction Industries and Resource Industries, and by end-use for Energy & Transportation. This supplemental data is particularly relevant for investors seeking to understand the impact of global economic conditions, including the early stages of the COVID-19 pandemic, on Caterpillar's diverse markets.

Key Highlights

  • 1Caterpillar is providing supplemental data on retail sales to end users, not just sales to dealers, to offer a clearer view of demand.
  • 2The data covers three-month rolling periods ending March, April, and May 2020, offering a view into the early impact of global economic shifts.
  • 3Retail machine sales in the 'World' category showed a downward trend across all three reported periods, with May 2020 down 23%.
  • 4Construction Industries experienced significant declines in retail machine sales, particularly in North America (down 35% in May 2020) and EAME (down 23% in May 2020).
  • 5Resource Industries saw a mixed performance, with Asia/Pacific showing a 9% decrease in May 2020, while EAME saw a 12% increase in the same period.
  • 6Energy & Transportation retail sales were generally down, with 'Industrial' (down 32% in May 2020) and 'Transportation' (down 33% in May 2020) showing notable declines.
  • 7The company emphasizes that this data is unaudited, voluntarily provided by dealers, and not subject to internal controls, thus it's an approximation of trends and not a predictor of financial results.

Frequently Asked Questions

The primary purpose is to provide supplemental, unaudited data on Caterpillar's retail sales to end users for machines and power systems. This is intended to give investors a better understanding of demand trends in the industries Caterpillar serves, acknowledging the time lag between sales to dealers and dealers' sales to end users.

Investors should interpret this data as an approximate indication of trends, direction, and magnitude of retail sales. It is not a substitute for Caterpillar's official audited financial statements and is based on voluntary, unaudited reports from dealers, so it may not be perfectly accurate or complete.

Overall retail machine sales globally were down, with significant declines in North America. Construction Industries generally saw negative trends, particularly in EAME and North America. Resource Industries showed more varied performance regionally. Energy & Transportation segment, especially industrial and transportation end uses, also experienced notable declines.

No, this filing is informational and provides historical retail sales data for specific periods. It does not contain new forward-looking guidance. However, the filing does include a general risk factors section, common in 8-Ks, outlining various factors that could materially affect Caterpillar's future results.