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.