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Quarterly Results Overview Video
Caterpillar Group President and Chief Financial Officer Brad Halverson discusses the company's third-quarter 2015 results.
Thursday, October 22, 2015
10:00 AM Central Time
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Click here for 3Q15 Caterpillar Inc. Results Presentation
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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"The environment remains extremely challenging for most of the key industries we serve, with sales and revenues down 19 percent from the third quarter last year. Improving how we operate is our focus amidst the continued weakness in mining and oil and gas. We’re tackling costs, and our year-to-date decremental profit pull through has been better than our target. We’re also focusing on our global market position, and it continues to improve even in challenging end markets. Our product quality is in great shape, and our safety record is among the best of any industrial company today," said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
"Our strong balance sheet is important in these difficult times. Our ME&T debt-to-capital ratio is near the middle of our target range at 37.4 percent; we have about $6 billion of cash, and our captive finance company is healthy and strong. We’ve repurchased close to $2 billion of stock in 2015 and more than $8 billion over the past three years. In addition, the dividend, which is a priority for our use of cash, has increased 83 percent since 2009," added Oberhelman.
"Despite challenging global market conditions in some of the key segments we serve, our portfolio continues to perform relatively well," 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."