Caterpillar Stock Price, News & Analysis

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.

Caterpillar Inc. (NYSE: CAT) will report its first-quarter 2021 financial results on April 29 at 5:30 a.m. CDT. The results and a news release will be accessible on the company's investor relations website and PR Newswire. A teleconference for analysts will follow at 7:30 a.m. CDT, with supporting materials available in advance. Participants can join via telephone or webcast. Caterpillar, a leading manufacturer in construction and mining equipment, reported $41.7 billion in sales and revenues for 2020.

Caterpillar Inc. (NYSE: CAT) has decided to maintain its quarterly cash dividend at $1.03 per share, with a payment date set for May 20, 2021. Shareholders on record by April 26, 2021 will receive the dividend. The company has a notable history, having paid a cash dividend every year since its inception and maintaining an increase for 27 consecutive years, positioning it as a member of the S&P 500 Dividend Aristocrat Index. In 2020, Caterpillar reported $41.7 billion in sales and revenues, solidifying its status as a leading player in the construction and mining equipment industry.

Caterpillar Inc. (NYSE: CAT) has appointed Gerald Johnson to its board of directors, effective March 1, 2021. Johnson, currently the executive vice president of Global Manufacturing at General Motors, brings extensive manufacturing expertise and a commitment to sustainability. Caterpillar's Chairman and CEO, Jim Umpleby, expressed confidence in Johnson's skills and insights enhancing the board. This change adds valuable experience to the board, critical for steering the company in the competitive manufacturing landscape.

Caterpillar Inc. CFO Andrew Bonfield will participate in a fireside chat at the Evercore ISI Industrial Conference 2021 on March 2, 2021, starting at 11:40 a.m. ET. This session, lasting 30 minutes, aims to engage institutional investors.

The event will be webcast live and accessible to the public. Listeners should register 30 minutes in advance. A replay will be available for 90 days, and a transcript will be posted on Caterpillar's investor relations website.