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Quarterly Results Overview Video
Caterpillar Group President and Chief Financial Officer Brad Halverson discusses the company's third-quarter 2014 results.
Each webcast contains certain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, the Risk Factors noted in the Earnings Release and the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in each webcast, which speaks as of its date.
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“We’re pleased with the third-quarter profit improvement considering world economic growth remains slower than we’d like. We’ve continued to focus on what we can control — cost management and operational execution. We continue on a Lean manufacturing journey and are focused on improving safety, quality, efficiency and inventory turns. We’re making progress and it is beginning to be reflected in our results. The diversity of the businesses we’re in and the strengthening of our operational performance have been key to helping us improve results and our competitive position in this weak economic recovery. Our broad geographic reach and manufacturing footprint help mitigate the impact of currency fluctuations. In fact, currency impacts were positive in the third quarter,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
“In addition to the profit improvement, we have a strong balance sheet and through the first nine months of the year, we’ve had good cash flow. So far this year, we’ve returned value to our stockholders by repurchasing $4.2 billion of Caterpillar stock and raising our quarterly dividend by 17 percent,” Oberhelman said.
“Continued growth and strong yield performance in our earning asset base and the solid performance of our portfolio have resulted in another good quarter for Cat Financial,” said Kent Adams, president of Cat Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. “We continue to be well-positioned to serve Caterpillar, Cat dealers and our customers worldwide.”