View sell-side analysts that cover Caterpillar.Learn More
Quarterly Results Overview Video
Caterpillar Group President and Chief Financial Officer Brad Halverson discusses the company's first-quarter 2016 financial 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.
If you are having problems participating in the live event, please contact your information Services support staff or call 309-675-4549.
“While first-quarter results were about as we expected, sales and profit were well below the first quarter of 2015. Sales declined across the company with substantial reductions in construction, oil and gas, mining and rail. While many of the industries we serve are challenged, we remain focused on what we can control: the quality of our products, our market position, safety in our facilities and continued restructuring and cost reduction. In fact, our period costs and variable manufacturing costs in the quarter were nearly $500 million lower than the first quarter of 2015,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
“While many of the industries we serve are challenged today, we’re looking ahead and investing for the future. We’re investing substantially in R&D, driving forward on our Lean journey, continuing implementation of Across the Table with our dealers and accelerating our digital strategy,” said Oberhelman.
"Our portfolio has performed well overall despite ongoing weakness in many of the key end markets we serve," 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 is focused on actively managing portfolio health and continuing to serve Caterpillar customers and Cat dealers worldwide through financial services excellence."