DEERFIELD, Ill., May 4, 2020 /PRNewswire/ -- Caterpillar Inc.
(NYSE: CAT) is illustrating how it's helping customers build a
better world in its recently published 2019 Annual Report and
Sustainability Report.
To read the reports, visit http://caterpillar.com/reports.
"These reports demonstrate the execution of our enterprise
strategy to deliver innovative products and services to make our
customers more successful," said Caterpillar Chairman and CEO
Jim Umpleby. "As we prepared the
reports, COVID-19 became a global pandemic, presenting new
challenges around the world. Because our customers help meet
society's infrastructure, energy and resource needs both during the
pandemic and beyond, our dedication to creating a more sustainable
future is more important than ever."
The Annual Report illustrates how Caterpillar is executing its
strategy to create value for shareholders, employees and customers.
Highlights from 2019 include:
- Continued execution of our enterprise strategy for
profitable growth, with a strong focus on operational
excellence, expanded offerings and services with customers at the
center of our purpose.
- Strong operational performance, including an operating
profit margin of 15.4%.
- Return of $6.2 billion to
shareholders, including $4.0
billion in share repurchases and raising the quarterly
dividend by 20%.
- Relentless focus on services, resulting in a 2%
increase toward our goal to double our Machinery, Energy &
Transportation services revenues between 2016 and 2026.
The 2019 Sustainability Report, prepared in alignment with
Sustainability Accounting Standards Board (SASB) criteria for the
first time, underscores how Caterpillar is providing value to
customers by making sustainable progress possible through its
operations, products, services and solutions that make safe,
productive and efficient use of resources. Highlights from 2019
include:
- Dedication to the safety, health and well-being of our
employees, resulting in our best safety performance on
record.
- Providing services that transform traditional product
support in ways that reduce environmental footprint, while
providing innovative support to customers.
- Delivering expanded offerings in innovative and
sustainable ways.
- Focusing on operational excellence, which translates to
lean and efficient operations in the communities we serve.
- Continued progress on our 2020 goals, already achieving
several in the areas of safety, energy efficiency, greenhouse gas
emissions and managed fleet hours, with work underway to set future
goals.
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About Caterpillar
Since 1925, Caterpillar Inc. has
been helping our customers build a better world – making
sustainable progress possible and driving positive change on every
continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world's leading
manufacturer of construction and mining equipment, diesel and
natural gas engines, industrial gas turbines and diesel-electric
locomotives. Services offered throughout the product life cycle,
cutting-edge technology and decades of product expertise set
Caterpillar apart, providing exceptional value to help our
customers succeed. The company principally operates through three
primary segments – Construction Industries, Resource Industries and
Energy & Transportation – and provides financing and related
services through its Financial Products segment. For more
information, visit caterpillar.com. To connect on social media,
visit caterpillar.com/social-media.
Forward-looking Statements
Certain statements in this press release relate to future events
and expectations and are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "believe," "estimate," "will be," "will," "would,"
"expect," "anticipate," "plan," "forecast," "target," "guide,"
"project," "intend," "could," "should" or other similar words or
expressions often identify forward-looking statements. All
statements other than statements of historical fact are
forward-looking statements, including, without limitation,
statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance
and speak only as of the date they are made, and we do not
undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those
described or implied in our forward-looking statements based on a
number of factors, including, but not limited to: (i) global and
regional economic conditions and economic conditions in the
industries we serve; (ii) commodity price changes, material price
increases, fluctuations in demand for our products or significant
shortages of material; (iii) government monetary or fiscal
policies; (iv) political and economic risks, commercial instability
and events beyond our control in the countries in which we operate;
(v) international trade policies and their impact on demand for our
products and our competitive position, including the imposition of
new tariffs or changes in existing tariff rates; (vi) our ability
to develop, produce and market quality products that meet our
customers' needs; (vii) the impact of the highly competitive
environment in which we operate on our sales and pricing; (viii)
information technology security threats and computer crime; (ix)
inventory management decisions and sourcing practices of our
dealers and our OEM customers; (x) a failure to realize, or a delay
in realizing, all of the anticipated benefits of our acquisitions,
joint ventures or divestitures; (xi) union disputes or other
employee relations issues; (xii) adverse effects of unexpected
events; (xiii) disruptions or volatility in global financial
markets limiting our sources of liquidity or the liquidity of our
customers, dealers and suppliers; (xiv) failure to maintain our
credit ratings and potential resulting increases to our cost of
borrowing and adverse effects on our cost of funds, liquidity,
competitive position and access to capital markets; (xv) our
Financial Products segment's risks associated with the financial
services industry; (xvi) changes in interest rates or market
liquidity conditions; (xvii) an increase in delinquencies,
repossessions or net losses of Cat Financial's customers; (xviii)
currency fluctuations; (xix) our or Cat Financial's compliance with
financial and other restrictive covenants in debt agreements; (xx)
increased pension plan funding obligations; (xxi) alleged or actual
violations of trade or anti-corruption laws and regulations; (xxii)
additional tax expense or exposure, including the impact of U.S.
tax reform; (xxiii) significant legal proceedings, claims, lawsuits
or government investigations; (xxiv) new regulations or changes in
financial services regulations; (xxv) compliance with environmental
laws and regulations; and (xxvi) other factors described in more
detail in Caterpillar's Forms 10-Q, 10-K and other filings with the
Securities and Exchange Commission.
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SOURCE Caterpillar Inc.