Caterpillar Stock Price, News & Analysis

Caterpillar Inc. (NYSE: CAT) announced its decision to maintain a quarterly dividend of $1.11 per share, payable on February 18, 2022, for shareholders of record by January 20, 2022. The company has consistently paid annual dividends since its founding and has increased them for 28 consecutive years, establishing itself as a member of the S&P 500 Dividend Aristocrat Index. With 2020 revenues of $41.7 billion, Caterpillar remains a leader in manufacturing construction and mining equipment.

Caterpillar announced a three-year collaboration with Microsoft and Ballard Power Systems to demonstrate hydrogen fuel cells for backup power at Microsoft data centers. Supported by the U.S. Department of Energy, this project aims to showcase a 1.5 MW power system using low-carbon-intensity hydrogen. Caterpillar will provide system integration and controls, while Ballard supplies the fuel cell module. This initiative marks a step toward sustainable, commercially viable energy solutions, aligning with Caterpillar's commitment to support customers' climate goals.

The Caterpillar Foundation has announced a $2 million grant to establish the Caterpillar Curator of African American Innovation and Entrepreneurship at the Smithsonian National Museum of African American History and Culture. This role will focus on promoting diversity and inclusion in discussions around African American contributions to innovation and entrepreneurship in science and technology. The grant also includes an endowment for ongoing support of collections, exhibits, and programs that celebrate African American history and culture. This collaboration marks 10 years of partnership between Caterpillar and the Smithsonian.

Cat Financial reported a strong performance for Q3 2021, with revenues of $634 million, a 6% increase from Q3 2020. Profit surged to $101 million, reflecting a remarkable 110% growth year-over-year. Profit before income taxes rose to $131 million, up 36%, aided by a $27 million gain from returned equipment and a reduction in credit loss provisions. Retail new business volume reached $3.34 billion, a 29% increase, although past dues improved to 2.41% from 3.81% a year prior.

Caterpillar reported third-quarter 2021 sales of $12.4 billion, a significant 25% increase from $9.9 billion in 2020, driven by strong equipment demand and favorable pricing. Profit per share rose to $2.60, up from $1.22 in the previous year. Adjusted profit per share was $2.66, reflecting solid operational performance. Notably, the company returned $2.0 billion to shareholders through dividends and share buybacks during the quarter, showcasing a healthy balance sheet with $9.4 billion in cash.

Caterpillar Inc. (NYSE: CAT) is set to release its third-quarter 2021 financial results on October 28 at 5:30 a.m. CDT. Stakeholders can access the release via the investors.caterpillar.com website and through PR Newswire. A teleconference and webcast will follow at 7:30 a.m. CDT for analysts and investors. Dial-in options are available for both domestic and international participants, with entry code 9864507. Caterpillar generated $41.7 billion in revenue for 2020, operating through multiple segments worldwide.

Caterpillar Inc. (NYSE: CAT) announced the board's decision to maintain a quarterly dividend of $1.11 per share, payable on November 19, 2021. Shareholders of record as of October 25, 2021 will receive this dividend. This marks the 28th consecutive year of increasing annual dividends, solidifying Caterpillar's status as a member of the S&P 500 Dividend Aristocrat Index. In 2020, Caterpillar reported $41.7 billion in sales and revenues, affirming its leadership in the manufacturing of construction and mining equipment.