Caterpillar Inc (CAT)

[DewDiligence]

CAT shares_hit_all-time_high_on_2Q23 “beat” with_robust_growth_in_all_business_segments.

2Q23 sales were 17.3B, +22% YoY. (The Wall Street consensus was $16.5B, so this was a solid beat.)

2Q23 non-GAAP EPS was $5.55, up from $3.18 in 2Q22. (The Wall Street consensus was $4.57, so this was a huge beat.)

CAT does not provide specific guidance for sales or EPS, but it expects improved sales and margins in the second half of 2023.

PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/2q23/2q23-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2023/q2/2Q-2023-Analyst-Slide-Deck-Final.pdf

7-minute video:

[Bountiful_Harvest]

Caterpillar’s Sales Surge as Construction Booms:

https://www.wsj.com/articles/caterpillar-cat-q2-earnings-report-2023-1dd9702b

[makinezmoney]

$CAT: $300wkly calls were at $0.02 at the open

NOW at $0.44 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


THATS HOW U MAKE MONEY !!!!!!!!!!!!!!!!!!!!



GO $CAT

[Monksdream]

Earnings spotlight: Tuesday, August 1 - Merck (MRK), Pfizer (PFE), Advanced Micro Devices (AMD), Caterpillar (CAT), Starbucks (SBUX), Uber (UBER), and Altria (MO). JR Research, a Seeking Alpha analyst stated "Given relatively pessimistic analysts' estimates, the market is likely positioned for a disappointing Q2 release for Pfizer."

[DewDiligence]

CAT increases dividend for 29th consecutive year:

https://finance.yahoo.com/news/caterpillar-inc-increases-dividend-142600079.html

The new annualized dividend is $5.20 (up from $4.80). At the current share price (~$243), the new payout equates to a yield of 2.1%. Although this yield is not that high, CAT has raised the dividend by 17% cumulatively ($4.44—>$5.20) in the past two years (#msg-169089779). Moreover, CAT has an active share-buyback program.

[DewDiligence]

CAT—>Premiere player in transition to EVs:

What makes CAT a premiere player in the transition to EVs is not what CAT is doing with the equipment it sells to mining companies. Rather, CAT is a premier player in the transition to EVs because EVs require 6x the volume of mined materials as ICEs, which will greatly increase the demand for CAT’s heavy-duty mining equipment.

[DewDiligence]

CAT’s Bernstein webcast—(50 min)—is a great listen:

https://kvgo.com/bernstein-2023-39th-annual-sdc/caterpillar-june

[DewDiligence]

CAT’s CEO, Jim Umpleby said on today’s Bernstein webcast that mines operating with as few as 15-20 trucks can now benefit from autonomous equipment, despite the large capital investment (for new equipment and/or or retrofits).

Just a few years ago, a mine had to have 70 or more trucks to justify investing in autonomy, according to Umpleby.

[DewDiligence]

CAT 1Q23 CC transcript:

https://finance.yahoo.com/news/q1-2023-caterpillar-inc-earnings-041835520.html

[DewDiligence]

CAT 1Q23—>higher price realization and higher volume…

PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/1q23/1q23-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2023/q1/1Q-2023-Caterpillar-Inc-Earnings-Presentation.pdf


1Q23 sales were $15.9M, +17% YoY. 1Q23 non-GAAP EPS was $4.91, up from $2.88 in 1Q22.

CAT does not provide specific guidance for sales or EPS, but it expects price realization during the rest of 2023 to offset inflation in COGS, as it did during 1Q23.

[Bountiful_Harvest]

Freyr plans to form battery coalition agreement with big players such as Caterpillar:

https://www.marketwatch.com/press-release/freyr-battery-targets-strategic-coalition-with-four-major-global-partners-2023-03-28?siteid=bigcharts&dist=bigcharts&tesla=y

[DewDiligence]

CAT...is an EV play, the CEO says on today’s GS webcast.

When I mentioned the above to an experienced investor, they thought I was talking about CAT’s electrifying its lineup of mining equipment, which was a reasonable interpretation. However, what I intended to convey in the above statement is that the robust demand for minerals that go into EV batteries will inevitably boost the demand for mining equipment sold by CAT.

CAT does intend to electrify its lineup of mining equipment, but that’s a separate (and subordinate) issue.

[DewDiligence]

CAT’s mining-equipment segment, comprising about 20% of CAT’s equipment sales, is an EV play, the CEO says on today’s GS webcast.

[DewDiligence]

CAT Financial’s past-due proportion of loans outstanding is near an all-time low, according to today’s GS webcast.

[DewDiligence]

CAT director sold $1.5M of stock—slightly more than half his holding:

https://www.sec.gov/Archives/edgar/data/18230/000110465923011649/xslF345X03/tm235765-1_4seq1.xml

[DewDiligence]

CAT 4Q22 results—2023 guidance…

4Q22 sales were $5.73M, +19% YoY. 4Q22 non-GAAP EPS was $3.86, up from $2.69 in 4Q22. 4Q22 non-GAAP EPS excluded a $925M non-cash impairment of goodwill and a $180M “mostly non-cash” restructuring chare; both of these items pertained to the Rail division of the Energy & Transportation segment.

Excluding restructuring costs from non-GAAP EPS is a policy that I take issue with insofar as a multinational, multifaceted business such as CAT’s has restructuring costs continually.

CAT does not provide specific guidance for sales or EPS, but it expects 2023 sales to be higher than 2022 due to price realization (see slide #18 at link below).


PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/4q22/4q22-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2022/q4/4Q-2022-Caterpillar-Inc-Earnings-Presentation.pdf

[DewDiligence]

Probably not. Even if it does, CAT should be in good shape, IMO.

[///M3]

Government spending isnt slowing down

[DewDiligence]

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170776206

[DewDiligence]

Indeed. CAT's results call into question the doom-and-gloom analyses that have dominated the business press.

[Prudent Capitalist]

Great Q and report. Love the stock price action today (+8%)

[DewDiligence]

CAT 3Q22 results

Overall, a very solid quarter with no sign of an impending business downturn. Revenue: $15.0B, +21% YoY; GAAP EPS: $3.87, +48% YoY; non-GAAP EPS*: $3.95, +49% YoY.

CAT does not provide specific guidance for sales or EPS, but it expects 4Q22 to be the strongest quarter of 2022 (consistent with normal seasonal patterns) with YoY sales increases in all three business segments. CAT also expects that 4Q22 and full-year 2022 price increases will more than offset cost inflation of raw-materials inputs.

*Non-GAAP EPS excludes restructuring costs, which were $0.08/sh in 3Q22 and $0.06/sh in 3Q21. Excluding restructuring costs is a policy that I take issue with insofar as a multinational, multifaceted business such as CAT’s has restructuring costs continually. In this particular instance, the adjustments for restructuring costs were small, but this is not the case in all reporting periods.


PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/3q22/3q22-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2022/q3/3Q-2022-Caterpillar-Inc-Earnings-Presentation.pdf

[Prudent Capitalist]

Agree. This is a positive.

CAT CEO to stay past “mandatory” retirement age:

[DewDiligence]

CAT CEO to stay past “mandatory” retirement age:

https://finance.yahoo.com/news/jim-umpleby-continue-caterpillar-chairman-201500413.html

Makes sense, IMO. This is not a great time to change horses.

[DewDiligence]

Escondido copper mine_moving_to all-electric hauling_trucks_during_next_decade:

https://finance.yahoo.com/news/bhp-caterpillar-finning-announce-agreement-210000202.html

BHP Group Limited, Caterpillar Inc., and Finning International Inc. announced today an agreement to replace BHP’s entire haul truck fleet at the Escondida mine, the world's largest copper producer, located in the Antofagasta Region, northern Chile.

This agreement is part of the strategic equipment renewal process developed by Escondida. The new Caterpillar 798 AC electric drive trucks will feature technology that delivers significant improvements in material-moving capacity, efficiency, reliability, and safety…

The first trucks are expected to arrive at the mine in the second half of 2023, with delivery of the remaining trucks to extend over the next 10 years as the three companies work to replace one of the largest fleets in the industry worldwide, currently comprised of over 160 haul trucks.

There is no dollar amount given in the PR for this project, but it is clearly a big deal for CAT.

[DewDiligence]

CAT 2Q22 results

Revenue: $14.2B, +11% YoY; non-GAAP EPS*: $3.18, +22% YoY. Despite these impressive numbers, the stock is down ~5% today because: 1) sales by CAT’s independent dealers to equipment end users were down slightly YoY; and 2) the outlook for sales of large excavators in China is bleak.

CAT does not provide specific guidance for sales or EPS, but it expects 2H22 to be better than 1H22 and that product price increases will more than offset increases in raw-materials costs for 2H22 and the full year.

*Non-GAAP EPS excludes restructuring costs, which is a policy that I take issue with insofar as a multinational, multifaceted business such as CAT’s has restructuring costs continually.


2Q22 PR:
https://finance.yahoo.com/news/caterpillar-reports-second-quarter-2022-103000767.html

CC slides:
https://s25.q4cdn.com/358376879/files/doc_presentations/2022/08/2Q-2022-Earnings-Release_Analyst-Slides-Final.pdf

[BottomBounce]

$CAT has $37.58 Billion Debt

[Prudent Capitalist]

Hard to watch but I will hold all of my CAT shares long term and continue to automatically reinvest all dividends. For those who reinvest dividends these pullbacks give one a lot more bang for the buck long term.

[DewDiligence]

Investors are pricing in a recession, and CAT is a highly cyclical business.

[Nivea67515]

Stock is taking a beating !

[DewDiligence]

CAT moves corporate headquarters from Illinois to Texas:

https://www.barrons.com/articles/caterpillar-is-moving-to-texas-51655242731

The company says taxes are not the reason for the move, but I don't believe it.

[DewDiligence]

CAT boosts annualized dividend to $4.80—(from $4.44)—the_28th_consecutive_year for a dividend hike:

https://finance.yahoo.com/news/caterpillar-inc-increases-dividend-140500714.html

At the current share price (~$231), the new payout represents a yield of 2.1%. The dividend would presumably be higher if CAT didn’t have an aggressive share-buyback program (#msg-168886038).

[DewDiligence]

Today's webcast is being prepared for on-demand viewing.

[DewDiligence]

CAT investor day slides:

https://s25.q4cdn.com/358376879/files/doc_presentations/2022/05/Caterpillar-2022-Investor-Day-Presentation.pdf

[DewDiligence]

CAT authorizes new $15B share buyback:

https://finance.yahoo.com/news/caterpillar-highlights-services-energy-transition-123000180.html

The new $15B authorization starts 8/1/22; the $1.4B remaining on the existing buyback authorization will presumably be used up by then.

Hypothetically, if the entire buyback authorization were used to buy shares at the current share price, the number of shares outstanding would be reduced about 14%.

p.s. CAT is holding an Investor Day webcast today.

[DewDiligence]

CAT 1Q22 results:

All told, 1Q22 was a decent quarter: sales of $13.6B (+14% YoY) and GAAP EPS of $2.86 (+3% YoY) exceeded consensus expectations; however, sales in China were down ~50% YoY due to the COVID lockdowns there.

CAT was able to capture 85-90% of its cost-of-goods inflation through price increases during 1Q22, and it expects to capture >=100% for the full year.

CAT is not providing sales or EPS guidance for 2022.


PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/1q22/1q22-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2022/q1/1Q-2022-Earnings-Release_Analyst-Slides-Final.pdf

[peterquinnvet]

Be ready for big things with Caterpillar
$Cat made Nasdaq's list for 4 Top Infrastructure Stocks To Watch As Senate Passes $1 Trillion Infrastructure Bill
https://www.nasdaq.com/articles/4-top-infrastructure-stocks-to-watch-as-senate-passes-%241-trillion-infrastructure-bill-2021

[peterquinnvet]

Caterpillar (NYSE:CAT) is a leading global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. That makes it a prime beneficiary of increasing global infrastructure spending.

The industrial company has a long history of creating value for shareholders. Caterpillar has increased its dividend for more than 25 years, qualifying it as a Dividend Aristocrat. This trend should continue, given the growing need for equipment to build and maintain global infrastructure.

https://www.fool.com/investing/stock-market/market-sectors/industrials/construction-stocks/infrastructure-stocks/

[12Jokera]

I remember a time holy Toledo Ohio used to have a huge ass shipping port wonder if they will ever rebuild it back or put the Earth's core back in that would be a huge boost to this company

[Bountiful_Harvest]

Union Pacific buys ten more all-electric locomotives, this time from Caterpillar Inc.’s Progress Rail, investing over $100 million in total:

https://electrek.co/2022/01/31/union-pacific-buys-ten-more-all-electric-locomotives-this-time-from-caterpillar-inc-s-progress-rail-investing-over-100-million-in-total/

[nowwhat2]

What a JOKE.....










Pathetic.....
The whole "system" is designed to take advantage of those who do not USE price charts.

[nowwhat2]

Just gotta LOVE earnings seasons huh ?



July 2021

6 months later
Interesting.....



Caterpillar 200 Baby !.....wtf !





LAND OF CHARTING.......SNEAKYVILLE !




SNEAKYVILLE U.S.A.

[nowwhat2]

So it's an earnings day today here I guess now then is it ?




Interesting.....



Caterpillar 200 Baby !.....wtf !

[DewDiligence]

An Investor Day is scheduled for May, 2022.

[DewDiligence]

CAT's non-GAAP EPS calculation excludes restructuring costs, a practice that encourages manipulation, IMO.

[DewDiligence]

CAT is not providing sales or EPS guidance for 2022.

[DewDiligence]

CAT logs solid 4Q21 sales and EPS—but margins fell due to raw-materials inflation and supply-chain bottlenecks.

PR:
https://www.caterpillar.com/content/dam/caterpillarDotCom/releases/4q21/4q21-caterpillar-inc-financial-results.pdf

CC slides:
https://s25.q4cdn.com/358376879/files/doc_financials/2021/q4/4Q-2021-Earnings-Release_Analyst-Slides-Final.pdf

Full-year 2021 non-GAAP EPS was $10.81, up from $6.56 in 2020.

[pack10]

This stock is for any serious minded investor who has some cash to invest.

Why CAT, because they are growing with the many companies who use and need their products.

I could easily see a pps in the 230 / 250 range by mid next year. Take a few minutes and do research on this company and I believe you'll reach a similar conclusion.

[DewDiligence]

CAT 3Q21 PR and CC slides:

https://www.caterpillar.com/en/news/corporate-press-releases/h/3q21-results-caterpillar-inc.html

https://s25.q4cdn.com/358376879/files/doc_financials/2021/q3/3Q-2021-Caterpillar-Inc-Earnings-Presentation.pdf

[nowwhat2]

Caterpillar Propels The Dow



5 sessions earlier