Caterpillar Releases 2020 Financials


Caterpillar announced its fourth-quarter and 2020 financial results.

The engine and heavy equipment manufacturer reported full-year sales of $41.7 billion, down 22 percent from 2019. The company said lower end-user demand and dealers reducing inventories by $2.9 billion were chiefly responsible for the decline — both related to construction and other shutdowns due to the Covid-19 pandemic.

Fourth-quarter sales of $11.2 billion were down 15 percent from $13.1 billon for the same time period last year.

The company returned $3.4 billion to shareholders through dividends and share repurchases, and its Q4 adjusted profit per share of $2.12 reflects solid operational performance and a lower effective tax rate.

“Our fourth-quarter and full-year results reflect [our global] team’s agility in a challenging environment while executing our strategy for long-term profitable growth,” Caterpillar chairman and CEO Jim Umpleby said in a statement. “We achieved the adjusted operating profit margin established during our 2019 Investor Day while continuing to invest in products and services, [and] are well-positioned for the future and will emerge from the pandemic as an even stronger company.”


Mustang Survival Hires PR Partner

Formidable Media will provide public relations for the safety gear and apparel manufacturer.

NMMA Reports Retail Trends for Cruising, Water Sports and Fishing Boats

A newly released section from its U.S. Recreational Boating Statistical Abstract shows record growth across these categories.

Smartgyro Expands Operations

The gyrostabilizer manufacturer moves to a larger facility and makes hires in anticipation of growth.

SmartPlug Adds Employee, Moves to Larger Facility

Andrew Lankford is named quality assurance engineer, while the move gives the company 40 percent more manufacturing space.

The Next Wavve

The smart-device-based navigation app expands functionality with real-time tide and current monitoring.

Dealers: Have You Added Service Staff?

This month’s Pulse Report survey addresses the service department. Take the survey here.

Brunswick Acquires Navico

The $1.05 billion acquisition adds the parent company of Lowrance, B&G, Simrad and C-MAP to Brunswick’s Advanced Systems Group.