Welcome to our dedicated page for Caterpillar news (Ticker: CAT), a resource for investors and traders seeking the latest updates and insights on Caterpillar stock.
Caterpillar Inc. (NYSE: CAT) generates a steady flow of news that reflects its role in construction machinery manufacturing, mining equipment, power systems and industrial technology. On this page, readers can follow company announcements that range from leadership changes and strategic plans to developments in Industrial AI, autonomy and digital solutions such as the Cat AI Assistant.
Recent Caterpillar news has highlighted leadership transitions at the board and segment levels, including updates on the Chairman of the Board role and changes in the Construction Industries segment. These items provide insight into how the company structures its governance and segment leadership to support its global operations.
Caterpillar also issues news about technology collaborations and product-related initiatives. Examples include an expanded collaboration with NVIDIA to equip construction, mining and power equipment with AI capabilities, and the launch of Cat AI Assistant as an AI-based solution that connects Caterpillar equipment and digital applications through a conversational interface. The company has showcased these developments at major events such as CES, where it has presented its vision for Industrial AI and autonomous machines.
In addition, Caterpillar news covers topics such as investor day presentations, dividend declarations and philanthropic activities through the Caterpillar Foundation, including United Way campaigns and workforce development grants. Together, these updates provide a view into Caterpillar's strategic direction, financial policies, community engagement and technology roadmap.
Investors, industry professionals and observers can use this news feed to monitor Caterpillar's announcements over time, track key themes such as AI, autonomy and power systems, and understand how the company communicates its priorities across its Construction Industries, Resource Industries, Power & Energy and Financial Products segments.
Caterpillar Inc. (NYSE: CAT) CFO Andrew Bonfield will present at the 15th Annual Evercore ISI Industrial Conference on March 8, 2023, at 9 a.m. ET. The event will be webcast live, accessible to the public via a provided link. Listeners are encouraged to register early on the investor relations website. A replay of the webcast will be available for 90 days, and a transcript will be posted afterward. Caterpillar, with 2022 sales of $59.4 billion, is the leading manufacturer in construction and mining equipment, and is committed to sustainability and innovation across its global operations.
Caterpillar Inc. (NYSE: CAT) released its first Lobbying Report on Feb. 3, 2023, detailing its public policy advocacy aligned with the company’s strategy for long-term growth. The report emphasizes transparency in Caterpillar's political engagement concerning climate initiatives and support for the energy transition. CEO Jim Umpleby highlighted the company's commitment to supporting sustainable practices and customer needs. The report will be published annually and includes insights into the governance of political activities, impacts of lobbying efforts, and Caterpillar's relations with trade associations.
Caterpillar Inc. (NYSE: CAT) announced the appointment of Judith Marks and James Fish, Jr. to its board of directors, effective March 1, 2023. Marks, CEO of Otis Worldwide Corporation, brings expertise in services growth and digital transformation. Fish, CEO of Waste Management, has a strong sustainability background. They will enhance the board's focus on long-term profitable growth and sustainable solutions. Edward Rust will not stand for re-election at the 2023 Annual Shareholder Meeting, acknowledging his 20 years of service. Following these changes, the board will consist of 11 members, with 10 being independent.
Cat Financial reported 2022 revenues of $2.73 billion, a 7% increase from 2021's $2.56 billion. Profit rose to $535 million, up 6% from $505 million in 2021. Despite this, retail new business volume fell 13% to $11.36 billion. The fourth quarter saw revenues of $724 million, a 13% increase, but profits decreased 3% to $118 million due to higher credit loss provisions. Past dues improved to 1.89% from 1.95% year-over-year. The allowance for credit losses totaled $346 million, or 1.29% of finance receivables.
Caterpillar reported a 20% increase in fourth-quarter 2022 sales, reaching $16.6 billion, and a 17% rise in full-year sales to $59.4 billion. Fourth-quarter profit per share was $2.79, down from $3.91 in 2021, affected by a $0.41 foreign currency impact. Adjusted profit per share rose to $3.86 from $2.69. For the full year, profit per share increased to $12.64, and adjusted profit per share rose to $13.84. Operating cash flow was strong at $7.8 billion, with $6.7 billion returned to shareholders through buybacks and dividends.
Mayville Engineering Company (NYSE: MEC) announced the appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel, effective January 25, 2023. Mr. Leuba brings over two decades of experience in public-company development and legal expertise from Caterpillar (NYSE: CAT). CEO Jag Reddy expressed confidence that Leuba's leadership will significantly contribute to MEC's growth objectives across various markets. Leuba stated his eagerness to execute the company's long-term growth plan during this transformative period.
Caterpillar Inc. (NYSE: CAT) is set to announce its fourth-quarter and full-year 2022 financial results on January 31, 2023, at 5:30 a.m. CST. The announcement will be available on their investor website and via PR Newswire. A teleconference will follow at 7:30 a.m. CST for analysts and investors, with access provided via phone and webcast. Caterpillar, a leader in manufacturing construction equipment and diesel engines, reported $51.0 billion in sales and revenues in 2021. The company is committed to sustainability and operating through three main segments: Construction Industries, Resource Industries, and Energy & Transportation.
Caterpillar (NYSE: CAT) has announced an investment in Lithos Energy, a U.S.-based battery technology company specializing in lithium-ion battery packs. This strategic move aims to enhance Caterpillar's electrified product portfolio, aligning with its commitment to sustainability and reduced emissions. Lithos Energy's expertise in manufacturing rugged battery solutions is expected to accelerate technology development and manufacturing capacity. Caterpillar's investment underscores its focus on delivering advanced power technologies for its hybrid and fully-electric machinery.
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