India, Australia, Russia: Disappointment for LGBT Activists

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Caterpillar Beats Earnings and Revenues in 4Q

Caterpillar Inc. (CAT) announced its fourth quarter (4Q) earnings for fiscal year 2013 (FY13) in pre-market hours, and beat analysts’ estimates for revenues and earnings per share (EPS). The stock is trading is up more than 6%.

The heavy machinery manufacturer posted EPS of $1.54, beating EPS estimates by $0.26. Revenues were down 10.5% year-over-year (YoY), coming in at $14.4 billion, but beat estimates by $790 million for the quarter. The company also announced the intention to complete its $7.5 billion buyback program over the first quarter of 2014, and approved an additional $10 billion in buybacks that will conclude sometime in 2018.

Caterpillar, whose financial performance has been suffering since the beginning of the year, came through at the end after implementing severe cost-cutting measures. The company closed down some plants and reduced activity at others, and laid off roughly 13,000 employees, as it missed its estimates quarter after quarter.

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Caterpillar: Inventory Build-Up Causing Orders To Dry Up

Caterpillar Inc. (CAT) is the bellwether for the machinery manufacturing industry. It designs, manufactures, markets and sells heavy machinery and equipment to the construction, mining and power generation industries.

The company operates on a global scale, and its performance is tied to macroeconomic conditions in different countries worldwide. For this reason, Caterpillar’s order growth and dealer inventory levels are considered a leading economic indicator.

CAT’s three business segments – Construction Industries, Power Systems, and Resources – together accounted for almost 94% of the company’s overall revenues in 2012. Each segment contributed roughly a third of total revenues, and a slowdown in any one segment can affect the company’s bottom-line significantly.

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Caterpillar Company Description

Caterpillar Inc. (CAT) is a global industrial machines manufacturer based out of Peoria, Illinois. The company is classified under three main segments based on the end user markets that it serves. Caterpillar machinery is used in the construction, mining and power generation industries. Caterpillar’s 2012 market cap was $53 billion, and its global sales were $66 billion. The company’s three main segments – Construction Industries, Resource Industries and Power Systems -accounted for almost a third of the company’s revenues. Geographically, the US accounted for 36% of sales followed by Asia Pacific at 26%. CAT serves its end markets through a network of authorized dealers and distributors.Read More: CAT

Caterpillar Keeps on Cutting

The mining industry moved too far too fast on elevated Chinese demand. Now, miners are pulling back—that's left equipment makers like Caterpillar (NYSE: CAT  ) with little choice but to follow suit. However, as the excesses are cleaned up, the foundation of a rebound is being built.

Coal miner Cloud Peak Energy (NYSE: CLD  ) has managed to remain profitable while most of its competitors have been bleeding red ink. The company's well situated mines in the ultra-cheap Powder River Basin are one big help. But so are the company's cost control efforts.

  

For example, the miner reduced its capital expenditure budget by over 35% this year. Cloud Peak managed this by doing some of the obvious things, like delaying projects. But it has also been extending the life of its equipment and buying used instead of new. Caterpillar noted this industrywide trend. Read more

Caterpillar to close W.Va. highwall miner plant

Caterpillar Inc. is closing a highwall miner plant in southern West Virginia and moving production to a facility in Pennsylvania. Media outlets report that the company announced the move on Monday. Caterpillar says its plant in Beckley will close by mid-2014. Production will be shifted to the company's plant in Houston, Pa.

The Beckley plant employs about 40 workers. Caterpillar says the workers will be offered a severance package and transitional support. Read more.

Caterpillar Inc. (CAT) Earnings Preview: Q3 2013 Profit Falls On Sluggish Mining Demand

Caterpillar Inc. (NYSE:CAT), the world's largest maker of construction and mining equipment, is expected to report a drop in profit for a fourth straight quarter due to low capital spending from mining companies and inventory reduction by dealers.

Caterpillar, which announces third-quarter earnings at 7:30 a.m. EDT on Wednesday, before U.S. markets open, is likely to report net income of $1.11 billion, or $1.76 a share, on revenue of $14.35 billion, based on the average estimate of analysts surveyed by Thomson Reuters.

In the same period a year earlier, net income was $1.70 billion, or $2.54 a share, on $16.45 billion in revenue. Excluding one-time items, Caterpillar is expected to report earnings of $1.68 a share. Read more