Caterpillar Stock Price, News & Analysis

The Board of Directors of Caterpillar (NYSE: CAT) has decided to maintain its quarterly dividend at $1.20 per share, payable on February 17, 2023, to shareholders of record by the close of business on January 20, 2023. Caterpillar, a consistent dividend payer since 1933, has increased its annual dividends for 29 consecutive years and is listed among the S&P 500 Dividend Aristocrats. In 2021, the company reported sales and revenues of $51.0 billion.

Caterpillar Inc. (NYSE: CAT) has successfully demonstrated its first battery electric 793 mining truck, marking a significant advancement in its sustainable product journey. The prototype was developed with support from key mining customers, including BHP and Rio Tinto. As part of its sustainability initiative, Caterpillar is investing to transform its Tucson Proving Ground in Arizona into a sustainable testing hub, focusing on renewable energy technologies. This development aligns with the company's commitment to assist mining customers in reducing greenhouse gas emissions and achieving their sustainability goals.

Caterpillar Inc. (NYSE: CAT) announced a record pledge of over $13.8 million to United Way chapters across the United States, Canada, Mexico, and Panama for its 2022-2023 campaign, marking a $1 million increase from the previous year. The Caterpillar Foundation matches employee contributions dollar for dollar, highlighting a sustained commitment to community support. Over the past 20 years, the company has raised more than $200 million through this initiative. Caterpillar operates globally, primarily in construction and mining equipment, with 2021 sales of $51 billion.

Cat Financial reported Q3 2022 revenues of $690 million, a 9% increase from $634 million in Q3 2021. Profit rose 30% to $131 million from $101 million year-over-year due to higher financing rates. Profit before income taxes surged 44% to $188 million, influenced by a $75 million reduction in credit loss provisions. However, retail new business volume fell 18% to $2.73 billion. Past dues decreased to 2.00% from 2.41% a year ago, indicating improved portfolio performance.

Caterpillar reported third-quarter 2022 sales of $15.0 billion, a 21% increase from $12.4 billion in Q3 2021. The profit per share rose to $3.87, with adjusted profit at $3.95, up from $2.60 and $2.66, respectively. The operating profit margin improved to 16.2%. The company returned $2.0 billion to shareholders via share repurchases and dividends. Strong demand was noted across all segments, though the increase in sales was partially offset by unfavorable currency impacts. Caterpillar ended the quarter with $6.3 billion in cash and reported significant growth in all three primary segments.

Caterpillar Inc. (NYSE: CAT) announced on October 13, 2022, that its Board of Directors has waived the mandatory retirement policy for Chairman and CEO Jim Umpleby, allowing him to continue in his role beyond February 2023 when he turns 65. This decision grants the Board increased flexibility in its CEO succession planning. Debra Reed-Klages, presiding director, praised Umpleby for his strong leadership. Caterpillar reported sales of $51 billion in 2021, underscoring its position as a leading manufacturer in the construction and mining equipment sector.

Caterpillar Inc. (NYSE: CAT) will release its third-quarter 2022 financial results on October 27 at 5:30 a.m. CDT. The results will be accessible at investors.caterpillar.com. A teleconference and webcast will follow at 7:30 a.m. CDT, available for analysts and institutional investors. Participants can access the call via phone with conference ID 9063945. Caterpillar reported 2021 sales of $51.0 billion, highlighting its position as a leading manufacturer in construction and mining equipment.

Caterpillar Inc. (NYSE: CAT) has announced that it will maintain its quarterly dividend at $1.20 per share, payable on November 18, 2022, to shareholders of record as of October 24, 2022. This marks the company's 29th consecutive year of increased annual dividends, establishing its position as a member of the S&P 500 Dividend Aristocrat Index. Caterpillar reported $51.0 billion in sales for 2021, highlighting its strong market presence in construction and mining equipment.

Caterpillar (NYSE: CAT) will showcase four electric machine prototypes, including battery models, at bauma 2022 in Munich from Oct. 24-30. The prototypes aim to assist customers in their transition to sustainable practices, featuring the 301.9 mini excavator, 320 medium excavator, 950 GC medium wheel loader, and 906 compact wheel loader. These machines incorporate Caterpillar's innovative battery technology and charging options, and they are designed to meet diverse customer needs while maximizing sustainability.