Cookie Policy
Hide remove
Open add

This site uses cookies to create a better experience for you. Some of these cookies are set automatically because they’re necessary for the site to perform. Other cookies are used for functional, performance, and targeting purposes to enhance your experience by personalizing content and ads, enabling third party content and features, and enabling us to analyze how this site is used.  To learn more, please visit our Legal Notices - Cookie page. 

By clicking 'I Accept', you are agreeing to our use of functional, performance and targeting cookies.

Caterpillar Logo Caterpillar Logo
  • Company
    Company
    • Strategy & Purpose
    • Leadership
    • History
    • Caterpillar Foundation
    • Code of Conduct
    • Sustainability
    • Innovation
    • Global Locations
    • Visitors Center & Museum
    • Working Together
    Caterpillar at a Glance
    Caterpillar at a Glance

    Quick facts about Caterpillar – the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

    Strategy
    Strategy

    Our continuing commitment to meet the needs of our customers and the communities in which we live and work.

  • Brands
    Brands
    • Cat
    • Cat Financial
    • Cat Reman
    • Cat Rental Store
    • Cat Lift Trucks
    • Anchor
    • AsiaTrak
    • FG Wilson
    • Hindustan
    • Hypac
    • Kemper
    • MaK
    • MWM
    • M2M
    • Olympian
    • Perkins
    • Progress Rail
    • SEM
    • Solar Turbines
    • SPM Oil & Gas
    • Turner Powertrain Systems
    • Yellowmark™
    Caterpillar Merchandise
    Caterpillar Merchandise

    Cat® hats, boots, shoes, bags, models, phones, watches – and so much more. Appreciation for the brand extends far beyond those who use our equipment.

    Cat® Products & Services
    Cat® Products & Services

    Cat® product offerings include articulated trucks, backhoe loaders, dozers, engines, excavators, generators, motor graders, skid steer loaders and wheel loaders.

  • Investors
    Investors
    • Stock Information
    • Financial Information
    • Shareholder Services
    • Events & Presentations
    • Quarterly Financial Results
    • Annual Report & Sustainability Report
    • SEC Filings
    • Governance
    Corporate Press Releases
    Corporate Press Releases

    Read corporate press releases and news announcements distributed by Caterpillar Inc.

    Leadership
    Leadership

    Our leaders are committed to supporting customers and driving profitable growth.

  • News
    News
    • Feature Stories
    • Corporate Press Releases
    • Media Information
    • Social Media
    • Beyond the Iron: The Caterpillar Podcast
    • Caterpillar Publications
    Caterpillar & Technology: Q&A Chairman & CEO Jim Umpleby
    Caterpillar & Technology: Q&A Chairman & CEO Jim Umpleby

    Our quest to make our customers more successful is a never-ending journey. Learn what CEO Jim Umpleby shared recently in a (virtual) chat with Diesel Progress magazine.

    4Q20 Highlights
    4Q20 Highlights

    Key highlights from Caterpillar Inc.’s Fuurth-Quarter and Full-Year 2020 earnings results and top news from the quarter.

  • Careers
    Careers
    • Why Caterpillar?
    • Career Areas
    • Diversity & Inclusion
    • Search for Jobs
    Careers News
    Careers News

    There is challenging work being done around the world. Check out the latest from Team Caterpillar.

languageEnglish
Select a Language
  • English
  • Deutsch
  • Español
  • Français
  • Italiano
  • Magyar
  • Nederlands
  • Polski
  • Português
  • Čeština
  • Русский
  • 中文
  • 日本語
  • searchSearch
  • language English
    • English
    • Deutsch
    • Español
    • Français
    • Italiano
    • Magyar
    • Nederlands
    • Polski
    • Português
    • Čeština
    • Русский
    • 中文
    • 日本語
search ×
 
  • Caterpillar
  • News
  • Corporate Press Releases
  • Caterpillar Reports Fourth-Quarter and Full-Year 2019 Results

Caterpillar Reports Fourth-Quarter and Full-Year 2019 Results

January 31, 2020

Caterpillar Reports Fourth-Quarter and Full-Year 2019 Results; Provides Outlook for 2020

  • Fourth-quarter sales and revenues down 8%; full-year sales and revenues decreased 2%
  • Strong operating cash flow; ended the year with $8.3 billion of enterprise cash
  • Returned $1.3 billion to shareholders in the fourth quarter through dividends and share repurchases; returned about $6.2 billion in 2019
  • 2020 profit per share outlook range of $8.50 to $10.00

 

DEERFIELD, Ill. – Caterpillar Inc. (NYSE: CAT) today announced fourth-quarter and full-year results for 2019.

Sales and revenues for the fourth quarter of 2019 were $13.1 billion, an 8% decrease compared with $14.3 billion in the fourth quarter of 2018. Fourth-quarter 2019 profit per share was $1.97, compared with $1.78 profit per share in the fourth quarter of 2018. Adjusted profit per share in the fourth quarter of 2019 was $2.63, compared with fourth-quarter 2018 adjusted profit per share of $2.55.

“In the fourth quarter, strong cost control more than offset lower-than-expected end-user demand,” said Jim Umpleby, Caterpillar Chairman and CEO. “Our margin performance reflected our diligent focus on maintaining a flexible and competitive cost structure.”

Full-year sales and revenues in 2019 were $53.8 billion, down 2% compared with $54.7 billion in 2018. Full-year profit was $10.74 per share in 2019, compared with profit of $10.26 per share in 2018. Adjusted profit per share in 2019 was $11.06, compared with adjusted profit per share of $11.22 in 2018.

“While sales declined modestly in 2019, we delivered an operating margin and free cash flow consistent with our long-term targets and continued to invest in services and expanded offerings,” said Umpleby. “The team’s focus on executing our strategy for profitable growth also allowed us to increase our dividend by 20% and return more than $6 billion in capital to shareholders through dividends and share repurchases.”

Operating profit margin was 14.1% for the fourth quarter of 2019, compared with 13.1% for the fourth quarter of 2018. Operating profit margin was 15.4% for 2019, compared with 15.2% for 2018.

In 2019, adjusted profit per share excluded mark-to-market losses for remeasurement of pension and other postemployment benefit (OPEB) plans and a discrete tax benefit related to U.S. tax reform. In 2018, adjusted profit per share excluded mark-to-market losses for remeasurement of pension and OPEB plans, restructuring costs, the impact of U.S. tax reform and certain deferred tax valuation allowance adjustments.

For the full year of 2019, enterprise operating cash flow was $6.9 billion. Full-year 2019 ME&T operating cash flow was $4.9 billion after a discretionary pension contribution of $1.5 billion financed from proceeds of a debt issuance. In the fourth quarter of 2019, the company repurchased about $760 million of Caterpillar common stock and paid dividends of $568 million. During the year, the company repurchased $4.0 billion of Caterpillar common stock and paid dividends of $2.1 billion. After returning about $6.2 billion of capital to shareholders, the enterprise cash balance was $8.3 billion at the end of 2019, compared with $7.9 billion at the end of 2018.

2020 Outlook

The company expects 2020 profit to be in a range of $8.50 to $10.00 per share.

“We expect continued global economic uncertainty to pressure sales to users in 2020 and cause dealers to further reduce inventories,” said Umpleby. “We have improved our lead times and remain prepared to respond quickly to any positive or negative changes in customer demand. We will continue to invest in services and expanded offerings to advance our strategy for long term profitable growth, while achieving our Investor Day targets.”

The outlook does not include a mark-to-market gain or loss for remeasurement of pension and OPEB plans.

Notes

  • Glossary of terms is included on the Caterpillar website at http://www.caterpillar.com/investors/.
  • Information on non-GAAP financial measures is included in the appendix on page 12.
  • Some amounts within this report are rounded to the millions or billions and may not add. In addition, the sum of the components reported across periods may not equal the total amount reported year-to-date due to rounding.
  • Caterpillar will conduct a teleconference and live webcast, with a slide presentation, beginning at 7:30 a.m. Central Time on Friday, January 31, 2020, to discuss its 2019 fourth-quarter and full-year financial results. The accompanying slides will be available before the webcast on the Caterpillar website at http://www.caterpillar.com/investors/events-and-presentations.

 

Results
of
warning Cookies are required to watch videos

To watch this video, please open our cookie policy and accept the use of cookies.

Open Cookie Policy
of
Results
RESULTS

 

About Caterpillar

Since 1925, Caterpillar Inc. has been helping our customers build a better world – making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect on social media, visit caterpillar.com/social-media.

Click here to download the full version of the Caterpillar Inc. 4Q and full-year 2019 results release.

Click here to download the Caterpillar Inc. 4Q and full-year 2019 quarterly highlights.

Caterpillar media contact: Kate Kenny, +1 224-551-4133 or Kenny_Kate@cat.com

 

Share This

Company
  • Strategy & Purpose
  • Leadership
  • History
  • Caterpillar Foundation
  • Code of Conduct
  • Sustainability
  • Innovation
  • Global Locations
  • Visitors Center & Museum
Investors
  • Stock Information
  • Financial Information
  • Shareholder Services
  • Events & Presentations
  • Quarterly Financial Results
  • Annual Report & Sustainability Report
  • SEC Filings 
  • Governance
News
  • News & Features
  • Corporate Press Releases
  • Media Information
  • Social Media
 
Careers
  • Why Caterpillar?
  • Career Areas
  • Diversity & Inclusion
  • Search & Apply
  • Candidate Login
Working Together
  • Employees & Retirees
  • Sponsorships
  • Suppliers

 

Cat® Products & Services
  • Products
  • Parts
  • Support
  • Merchandise
  • Locate a Dealer
  • facebook
  • linkedin
  • twitter
  • youtube
  • instagram
Caterpillar Brands
  • Cat
  • Cat Financial
  • Cat Reman
  • The Cat Rental Store
  • Cat Lift Trucks
  • Anchor
  • AsiaTrak
  • FG Wilson
  • Hindustan
  • Hypac
  • Kemper
  • MaK
  • MWM
  • M2M
  • Olympian
  • Perkins
  • Progress Rail
  • SEM
  • Solar Turbines
  • Turner Powertrain Systems
  • Yellowmark

  • About Caterpillar
  • Visit Caterpillar
  • Site Map
  • Cookies
  • Legal
  • Privacy
  • Contact
  • Cat.com
  • English
  • © 2021 Caterpillar. All Rights Reserved.

Cookie Policy

This site uses cookies to create a better experience for you. Some of these cookies are set automatically because they’re necessary for the site to perform. Other cookies are used for functional, performance, and targeting purposes to enhance your experience by personalizing content and ads, enabling third party content and features, and enabling us to analyze how this site is used.  To learn more, please visit our Legal Notices - Cookie page. 

By clicking 'I Accept', you are agreeing to our use of functional, performance and targeting cookies.