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Quarterly Results Overview Video
Caterpillar Group President and Chief Financial Officer Brad Halverson discusses in this video the company's second 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 our second-quarter results, particularly the improvement in profit. We increased the bottom line despite a weak quarter for our Resource Industries segment, which is principally mining. Three key things are contributing to the continuing strength of our financial results—the diversity of our businesses, substantial success in operational improvements through the execution of our strategy and the strength of our cash flow and balance sheet,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. “Our Construction Industries and Energy & Transportation segments continue to improve. Construction Industries had a good quarter with sales up 11 percent and operating profit up 83 percent from the second quarter of 2013. The improvement in Construction Industries, along with sales stability and record profit from Energy & Transportation, has helped us improve profit despite the downturn in the mining industry,” added Oberhelman.
“We are pleased with our continued solid performance in the second quarter driven by the continued growth in earning assets,” said Kent Adams, president of Cat Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. “The global Cat Financial team remains focused on helping Caterpillar customers and Cat dealers succeed through financial services excellence.”