Caterpillar Inc.

Caterpillar Inc., based in Peoria, Ill., is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Caterpillar finalizes deal for propulsion systems manufacturer

Caterpillar Marine Power Systems completed the acquisition of Johan Walter Berg AB, enabling the company to offer complete propulsion systems to the commercial marine market. Berg Propulsion, the company’s core brand, manufactures mechanically and electrically driven propulsion systems and marine controls for ships. All Berg Propulsion products will be rebranded as Caterpillar. The new Cat…more

Caterpillar shuffles senior management ranks

Caterpillar Inc. is shaking up its strategy as three longtime vice presidents retired and four new vice presidents come on board. Steve Fisher, Steve Larson and Bill Rohner elected to retire, the company announced. The company’s board appointed four new officials from within and outside the company and is changing responsibilities for other vice presidents.…more

Caterpillar reports 2Q results

Caterpillar Inc. today reported declines in second-quarter sales and profits and lowered its outlook for the full year. Caterpillar said its profit for the quarter that ended June 30 was $960 million, or $1.45 a share, compared with $1.7 billion, or $2.54 a share, in the same quarter a year earlier. Sales and revenues fell…more

Caterpillar debuts hybrid propulsion system

Caterpillar Marine Power Systems has introduced the Cat Powered Marine Hybrid System, a hybrid propulsion package applicable to all engine platforms. Developed with electrical specialists Aspin Kemp & Associates, the package uses AKA’s XeroPoint Hybrid marine propulsion system and provides fuel savings of as much as 25 percent and even emissions reductions. A recent California…more

Caterpillar adds to marine division with Berg acquisition

Caterpillar agreed to buy Swedish company Johan Walter Berg AB, including its core brand of Berg Propulsion, a manufacturer of mechanically and electrically driven propulsion systems and controls for ships. With the acquisition, Caterpillar will transition from selling only engines and generators to providing complete propulsion package systems, the company announced. Headquartered in Ockero Islands,…more

Caterpillar reports 1Q results

Caterpillar Inc. lowered its outlook for 2013 after reporting first-quarter profits today that dropped 45 percent to $880 million, or $1.31 a share, from $1.59 billion in 2012. Revenue also dropped 17 percent, lower than analysts’ expectations. First quarter revenue and sales were $13.2 billion, a decline from $15.98 billion in the first quarter of…more

Caterpillar expected to report 1Q profit drop

Caterpillar is expected to report its second consecutive drop in quarterly profits for the first time since 2009 when it reports first-quarter earnings. Caterpillar has been hurt by an “over-supplied commodity environment” and a slowdown in China’s industrial economy, SeekingAlpha.com reported Goldman Sachs’ Jerry Revich as saying. Earnings per share is forecast to slump to…more

Caterpillar reports 4Q, year-end results

Caterpillar Inc. reported a profit dip in fourth-quarter earnings this week, which reflected a $580 million write-down after the company uncovered that Chinese subsidiary Siwei was found to have engaged in “deliberate, multi-year coordinated accounting misconduct.” A reduction in dealer inventory and wholesale shipments also negatively impacted fourth-quarter sales and profits, CEO Doug Oberhelman said…more

Caterpillar reports 1Q results

Growth in mining, strong replacement demand for products in the United States and a continued focus on cost management helped Caterpillar Inc. deliver a record quarterly profit per share of $2.37 in the first quarter of 2012, the company announced. This represents an increase of 29 percent from the first-quarter 2011 profit per share of…more

Caterpillar reports 4Q, year-end results

Caterpillar Inc. today reported record-breaking 2011 sales and revenues of $60.14 billion, an increase of 41 percent from $42.59 billion in 2010. Profit in 2011 was $4.93 billion, an increase of 83 percent from $2.7 billion in 2010. Profit per share of $7.40 was up 78 percent from $4.15 in 2010. Fourth-quarter sales and revenues…more

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