曾道人免费一码经书:Quarterly Highlights

曾道人头 www.zz993.cn Below are key highlights from Caterpillar Inc.’s Fourth-Quarter and full-year 2018 earnings results. For full financial results, please refer to the press release on Caterpillar’s Investor Relations site

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 Excludes restructuring costs, pension and OPEB mark-to-market losses, deferred tax valuation allowance adjustments and the impact of U.S. tax reform. For 2017, also excludes a gain on the sale of an equity investment

2018 Fourth-QUARTER and full-year HIGHLIGHTS:

  • Fourth-quarter sales and revenues up 11 percent; full-year sales and revenues up 20 percent
  • Strong financial position; ended 2018 with $7.9 billion of enterprise cash
  • Repurchased $1.8 billion in company stock in the fourth quarter and $3.8 billion for the full year

Comments from Caterpillar Chairman & CEO Jim Umpleby:

“In 2018, Caterpillar achieved record profit per share and returned significant levels of capital to shareholders. Our global team remained focused on serving our customers, executing our strategy and investing for future profitable growth.”


2019 Outlook: Profit per share expected to increase


Quarterly Highlights

Comments from Caterpillar Chairman & CEO Jim Umpleby:

“Our outlook assumes a modest sales increase based on the fundamentals of our diverse end markets as well as the macroeconomic and geopolitical environment. We will continue to focus on operational excellence, including cost discipline, while investing in expanded offerings and services to drive long-term profitable growth.” 



Fourth-Quarter News & Notes

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CEO Jim Umpleby also named Caterpillar Chairman

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Showcased diverse product line at Bauma china tradeshow

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Autonomous mining trucks marked 1 billion tonnes moved

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Full-year 2018 highlights

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Executing our Strategy


Building a Better World


Named to Dow Jones Sustainability Index for 19th time

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Caterpillar Foundation's "Value of Water" campaign

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People News

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New CFO and Executive Officer named, as well as new executive responsibilites

Andrew Bonfield
Chief Financial Officer

Bob De Lange
Group President
Services, Distribution and Digital

Tom Pellette
Group President
Construction Industries

Ramin Younessi
Group President
Energy & Transportation

New CFO and Executive Officer Named New CFO and Executive Officer Named



Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.

Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers’ needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) additional restructuring costs or a failure to realize anticipated savings or benefits from past or future cost reduction actions; (x) failure to realize all of the anticipated benefits from initiatives to increase our productivity, efficiency and cash flow and to reduce costs; (xi) inventory management decisions and sourcing practices of our dealers and our OEM customers; (xii) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xiii) union disputes or other employee relations issues; (xiv) adverse effects of unexpected events including natural disasters; (xv) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xvi) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xvii) our Financial Products segment’s risks associated with the financial services industry; (xviii) changes in interest rates or market liquidity conditions; (xix) an increase in delinquencies, repossessions or net losses of Cat Financial’s customers; (xx) currency fluctuations; (xxi) our or Cat Financial’s compliance with financial and other restrictive covenants in debt agreements; (xxii) increased pension plan funding obligations; (xxiii) alleged or actual violations of trade or anticorruption laws and regulations; (xxiv) additional tax expense or exposure, including the impact of U.S. tax reform; (xxv) significant legal proceedings, claims, lawsuits or government investigations; (xxvi) new regulations or changes in financial services regulations; (xxvii) compliance with environmental laws and regulations; and (xxviii) other factors described in more detail in Caterpillar’s Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.


The following definitions are provided for the non-GAAP financial measures used in this report. These non-GAAP financial measures have no standardized meaning prescribed by U.S. GAAP and therefore are unlikely to be comparable to the calculation of similar measures for other companies. Management does not intend these items to be considered in isolation or as a substitute for the related GAAP measures.


The company believes it is important to separately quantify the profit impact of several significant items in order for the company’s results to be meaningful to readers. These items consist of (i) restructuring costs, which are incurred in the current year to generate longer-term benefits, (ii) pension and OPEB mark-to-market losses resulting from plan remeasurements, (iii) certain deferred tax valuation allowance adjustments, (iv) U.S. tax reform impact and (v) a gain on the sale of an equity investment. The company does not consider these items indicative of earnings from ongoing business activities and believes the non-GAAP measures will provide useful perspective on underlying business results and trends, and a means to assess the company’s period-over-period results.



Reconciliations of adjusted profit before taxes to the most directly comparable GAAP measure, consolidated profit before taxes, are as follows:

Reconciliations of adjusted profit per share to the most directly comparable GAAP measure, diluted profit per share, are as follows:

Per share amounts computed using fully diluted shares outstanding except for consolidated loss per share, which was computed using basic shares outstanding.

1 At statutory tax rates. 2017 is prior to consideration of U.S. tax reform. Full-year 2017 also includes $15 million increase to prior year taxes related to non-U.S. restructuring costs.

2 At statutory tax rates. 2017 is prior to consideration of U.S. tax reform.

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