Quarterly Results Overview Video
Caterpillar Group President and Chief Financial Officer Brad Halverson discusses the company's third-quarter 2016 financial results.
Tuesday, October 25, 2016
10:00 AM Central Time
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Click here for 3Q16 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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“I’m pleased with how Caterpillar has responded and our team’s incredible focus on reducing costs and pulling through profit despite sluggish end markets. In the third quarter, despite a $1.8 billion decline in sales and revenues, our operating profit pull through was significantly better than our target range. Lower variable manufacturing costs of $234 million and lower period costs of $420 million enabled us to offset much of the negative impact from a weak sales environment and continue investment in products and digital capabilities,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.
"Cat Financial's portfolio continues to perform well despite challenging market conditions in some of our key segments. We believe customer risk exposure is well managed, with a broad distribution of portfolio exposure across our global customer base," said Kent Adams, president of Cat Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. "Cat Financial remains well positioned to serve Caterpillar customers and dealers worldwide through financial services excellence."