Caterpillar Stock Price, News & Analysis

Caterpillar Inc. CEO Jim Umpleby will engage in a fireside chat at Bernstein's Virtual 37th Annual Strategic Decisions Conference on June 2, 2021.

The session, lasting approximately 45 minutes, will commence at 8 a.m. ET and will be available for live streaming to the public. Listeners are encouraged to register 30 minutes prior and install any necessary audio software.

The webcast will be accessible for replay for 90 days, with a transcript posted on Caterpillar's investor relations website.

Caterpillar Inc. and the Caterpillar Foundation announced targeted relief efforts to address COVID-19 crises in India and Brazil. The Foundation is donating $1 million to support India's healthcare system, including oxygen supplies. Additionally, Caterpillar India is contributing $1.4 million for medical support and vaccination drives. In Brazil, a $250,000 donation will aid local hospitals. The Foundation also supports the COVAX initiative with a $500,000 donation for global vaccine access and invests $250,000 in a U.S. vaccine education initiative.

Caterpillar Inc. (NYSE: CAT) will host its virtual annual shareholder meeting on June 9, 2021, at 8 a.m. CDT. Shareholders holding common stock as of April 12, 2021, or their legal proxies, can participate, submit questions, and vote on relevant items. Comprehensive details, including registration and business items, are available in the 2021 proxy statement. In 2020, Caterpillar achieved sales and revenues of $41.7 billion, solidifying its position as a leader in construction and mining equipment.

Cat Financial reported Q1 2021 revenues of $639 million, an 8% decrease from the previous year, despite profits rising by 56% to $140 million. The revenue drop was attributed to $40 million from lower financing rates and $19 million from reduced earning assets. Profit before income taxes was $196 million, a 54% increase, influenced by a $71 million decrease in provisions for credit losses. Retail new business volume rose 21% to $2.81 billion, with a decrease in past dues from 4.13% to 2.90%.

Caterpillar reported first-quarter 2021 sales of $11.9 billion, a 12% increase from $10.6 billion in Q1 2020. Profit per share reached $2.77, up from $1.98 year-over-year. Adjusted profit per share rose to $2.87, compared to $1.65 in Q1 2020. The increase was driven by higher end-user demand and inventory changes, with dealers increasing inventories by $700 million compared to $100 million last year. Operating profit margin improved to 15.3%, up from 13.2% in 2020.

Caterpillar Inc. (NYSE: CAT) and Certarus Ltd. have signed a Memorandum of Understanding to explore lower carbon energy solutions. This collaboration aims to enhance the use of conventional and renewable natural gas and hydrogen. Certarus' CEO Curtis Philippon expressed enthusiasm for developing tools that help commercial customers lower carbon intensity, while Caterpillar's Group President Joe Creed highlighted the partnership's potential to combine expertise for comprehensive solutions in the energy transition. The collaboration is poised to benefit both companies and their customers.

The Caterpillar Foundation announced a $1 million investment in One Tree Planted to support global reforestation efforts. This initiative, celebrating Caterpillar's 95-year commitment to sustainability, aims to plant approximately 290,000 trees across 95 communities, restoring 620 acres and sequestering an estimated 7,000 metric tonnes of CO2 annually. The partnership emphasizes ecological restoration and community resilience as part of a broader strategy aligned with sustainable development goals. Caterpillar's focus on sustainability reflects its core values and long-term vision for environmental stewardship.

Caterpillar announced the retirement of board members Juan Gallardo and William Osborn, effective April 14, 2021. Gallardo, a member since 1998, and Osborn, who joined in 2000, contributed significantly to the company through various committees. David MacLennan, CEO of Cargill, has been elected to the board to bring his extensive leadership experience to Caterpillar. With 2020 revenues of $41.7 billion, Caterpillar remains a key player in construction and mining equipment manufacturing.