Caterpillar CEO to Retire, Successor a Company Veteran
Caterpillar Inc insider Jim Umpleby will become chief executive of the heavy equipment maker on Jan. 1, faced with the challenge of reversing a multiyear sales decline triggered by the global commodities slump. He replaces Doug Oberhelman, who will retire as CEO on Dec. 31 but stay on as executive board chairman until March 31, the company said on Monday. Caterpillar shares were down about 0.58 percent to $87.20. Under Oberhelman the company recorded record high revenue in 2012, two years after he became CEO. However, a decline in metals and oil prices hit the company hard and its sales have fallen since 2013. A 35-year company veteran, Umpleby must grapple with Caterpillar's sober outlook.
Caterpillar Maintains Dividend Rate
The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable August 20, 2016, to stockholders of record at the close of business on July 20, 2016. “Our balance sheet and operational performance are strong, even after several years of challenging market conditions. We are maintaining an attractive dividend for our stockholders and positioning the company for growth once our markets rebound," said Caterpillar Chairman and CEO Doug Oberhelman.
Caterpillar Maintains Dividend Rate
The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable May 20, 2016, to stockholders of record at the close of business on April 25, 2016. "Caterpillar’s balance sheet remains strong, and I'm pleased to announce we're maintaining our dividend despite continuing difficult marketplace conditions. We've taken actions to further strengthen our competitive position…
Caterpillar: Further Division Consolidation
Caterpillar Inc. will combine two divisions dealing with power and energy, adding more detail to a restructuring announced last year, and plans to complete this by June 2016, the company said on Wednesday. Caterpillar announced a number of personnel and consolidations, as the company plows forward in an increasingly challenging energy market. Steve Niehaus, currently vice president with responsibility for the Electric Power Division (EPD), is retiring, and in the wake of Niehaus’ retirement…
Caterpillar 3Q Profits fall $ 1.63 per share
Caterpillar Inc.today announced profit per share of $0.62 for the third quarter of 2015, a decrease from $1.63 per share in the third quarter of 2014. Excluding restructuring costs, profit per share was $0.75, down from $1.72 per share in the third quarter of 2014. Third-quarter 2015 sales and revenues were $11.0 billion, down from $13.5 billion in the third quarter of 2014. “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.
Caterpillar Maintains Dividend Rate
The Board of Directors of Caterpillar Inc. voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable November 20, 2015, to stockholders of record at the close of business on October 26, 2015. “I am pleased to announce we are maintaining Caterpillar’s dividend,” said Caterpillar Chairman and CEO Doug Oberhelman. “Even in this challenging environment, where we are aggressively moving to reduce our cost structure to match our current business outlook, we remain committed to rewarding stockholders through the cycles.
Caterpillar Again Named to Dow Jones Sustainability Indices
Caterpillar Inc. has been named to the 2015 Dow Jones Sustainability Indices (DJSI), recognizing Caterpillar as a sustainability leader in the Industrial Engineering sector. This marks the 16th time Caterpillar has been included in the DJSI list. The annual DJSI process involves a thorough analysis of corporate economic, environmental and social performance factors, assessing issues such as innovation management, supply chain management, climate strategy, product stewardship, labor practices and health and safety.
Caterpillar Increases Dividend Rate 10%
The board of directors of Caterpillar Inc. voted to increase the quarterly cash dividend by 10 percent to $0.77 per share of common stock, payable August 20, 2015, to stockholders of record at the close of business on July 20, 2015. "This 10 percent dividend increase is another example of our commitment to deliver superior returns to stockholders through the ups and downs of the industries we serve. Our strong balance sheet, cash flow and operational performance have put us in a position to reward stockholders with a higher dividend again this year," said Caterpillar Chairman and CEO Doug Oberhelman. "The increase is consistent with our cash deployment priorities – maintaining financial strength…
Reed Nominated to Caterpillar Board
Caterpillar Inc. announced today that the Caterpillar Board of Directors has nominated Debra L. Reed to join the Board, with the election to occur at the June 2015 annual stockholders meeting. Reed, 58, is the Chairman and CEO of Sempra Energy, a San Diego, California-based energy company. She began her Sempra Energy career in 1978 as an engineer and worked her way into leadership positions at Sempra Energy, as well as Southern California Gas Co. and San Diego Gas & Electric, Sempra Energy’s two regulated California utilities.
Caterpillar to Stay in Peoria
After a multiyear study focused on modernizing its global headquarters, Caterpillar Inc. today reaffirmed it will remain in Peoria, Illinois, and revealed a design that will eventually span 31 acres on the city’s riverfront. A three-tower building located in the heart of a six-block campus, which includes innovative work spaces and amenities designed to retain and attract the finest talent in the world. A commitment to invest and act as a catalyst in Peoria, helping revitalize the downtown and the region as a vibrant destination.
Caterpillar, Uptake to Create Analytic Solutions
To help customers around the world better understand the health of their equipment and optimize machine availability, Caterpillar Inc.today announced it has entered into a technology and predictive analytics agreement with Uptake, provider of a dynamic analytics and insight platform for a wide array of industries, based in Chicago, Illinois. Caterpillar has made a minority investment in Uptake and will jointly develop an end-to-end platform for predictive diagnostics to help Caterpillar customers monitor and optimize their fleets more effectively.
Caterpillar CEO Will Attend APEC CEO Summit
Chairman and CEO Doug Oberhelman is joining APEC economic leaders, business decision-makers and academics to discuss opportunities to strengthen regional economic integration and the global multilateral trade system during the 2014 APEC CEO Summit in Beijing. As a U.S. member company of the APEC Business Advisory Council (ABAC), Caterpillar has been working with business leaders from the 21 economies of APEC to provide recommendations to APEC leaders on priorities including infrastructure investment, connectivity, mining, remanufacturing, trade facilitation and sustainable development. “APEC leaders showed great vision when they committed…
Caterpillar: Q3 Results Show Improvement
Caterpillar Inc. today announced its third-quarter results, in which it reported profit per share of $1.63 for the third quarter of 2014, an increase from third-quarter 2013 profit per share of $1.45. The third quarter of 2014 included a negative impact of $0.09 per share for restructuring costs. Excluding restructuring costs, third-quarter 2014 profit per share was $1.72. Third-quarter 2014 sales and revenues were $13.549 billion, up from $13.423 billion in the third quarter of 2013.
Caterpillar Maintains Dividend Rate
The Board of Directors of Caterpillar Inc. voted today to maintain the quarterly cash dividend of seventy cents ($0.70) per share of common stock, payable November 20, 2014, to stockholders of record at the close of business on October 20. "I am pleased to announce that we are maintaining Caterpillar’s dividend,” said Caterpillar Chairman and CEO Doug Oberhelman. “Caterpillar’s strong dividend history is the result of our continued financial strength and strong operational performance. Caterpillar has paid higher dividends to its stockholders for 21 consecutive years, and since 1998, the company’s cash dividend has more than tripled. Including the announcement today, Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933.
Caterpillar Named to Dow Jones Sustainability Indices
Caterpillar Inc. has been named to the 2014 Dow Jones Sustainability Indices (DJSI), recognizing Caterpillar as a sustainability leader in the Industrial Engineering sector. This marks the 13th year for Caterpillar to be included in the list since DJSI debuted in 1999. The annual DJSI process involves a thorough analysis of corporate economic, environmental and social performance factors, assessing issues such as innovation management, supply chain management, climate strategy, product stewardship, labor practices and health and safety.
Caterpillar Invests $11m for Africa’s Prosperity
The Caterpillar Foundation, supported by Caterpillar Inc. , continues working to alleviate poverty worldwide, including on the African continent, through a series of investments. Since 2010 alone, corporate social innovation has driven the Caterpillar Foundation to invest $30 million in African programs that address access to clean water, energy, empowering girls and women and microfinance, as well as food and shelter. The Foundation targets investments to organizations working in areas of policy that will enable sustainable growth and development across the continent. “The Caterpillar Foundation is committed to finding ways to spur vibrant growth in Africa,” said Doug Oberhelman, Caterpillar Chairman & CEO.
Caterpillar CEO Warns of Obstacle to U.S. Competiveness
In a July 10, 2014 opinion article headlined, "Congress must move on the Highway Trust Fund," Caterpillar Chairman and CEO Doug Oberhelman outlined the risks to U.S. competitiveness if Washington's leaders can't fix short and long term infrastructure funding issues. Doug Oberhelman joined other business leaders and Vice President Joe Biden at a meeting held by the White House Business Council at the Eisenhower Executive Office Building on July 9. At the meeting, Doug spoke as part of a panel with U.S.
Caterpillar Announces 17% Dividend Rate Increase
The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to increase the quarterly cash dividend by 17 percent to seventy cents ($0.70) per share of common stock, payable August 20, 2014, to stockholders of record at the close of business on July 21, 2014. “This dividend increase demonstrates our financial strength and confidence in long-term prospects for the company. Despite business and economic uncertainties around the world, our balance sheet has remained strong – the strongest it’s been in more than two decades – positioning us to perform through the cycles.
Caterpillar Reports Good Q3 2012, But ...
Caterpillar Inc. announces strong improvement in its Third-Quarter 2012 results, but outlook not so bright. Caterpillar Inc. announce third-quarter 2012 sales and revenues of $16.445 billion, a 5-percent increase from third-quarter 2011 sales and revenues of $15.716 billion. “Last quarter and then again a month ago at MINExpo, we discussed economic and geopolitical headwinds facing the world, and we are certainly continuing to see the impact of those uncertainties in our business,” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman. "We now expect 2012 sales and revenues to be about $66 billion and profit in a range of $9.00 to $9.25 per share.
Cat 3500 Series Emissions Kits Get EPA Cert.
Caterpillar Marine Power Systems and Caterpillar Emissions Solutions announced that the United States Environmental Protection Agency (EPA) has certified Cat 3500 Series Marine Emissions Kits according to EPA Rule 40 CFR Part 1042. This Marine Remanufacture Program applies to many commercial engines flagged or registered in the United States, and the requirements include a 25 percent particulate matter reduction at overhaul. By replacing the mechanical unit injector (MUI) system and other associated components on the engine, the upgrade kits offer vessel owners an in-hull solution that exceeds the requirements, and offers operational benefits.