Caterpillar Announces New 2030 Sustainability Goals and Reports Environmental, Social and Governance (ESG) Progress
New goals centered on climate, environment and safety
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DEERFIELD, Ill., May 11, 2021 /PRNewswire/ Caterpillar Inc. (NYSE: CAT) illustrates how it continues to help its customers build a better, more sustainable world in its 2020 Sustainability Report published today. In addition to highlighting the company s progress through 2020, the report introduces Caterpillar s new sustainability goals to achieve by 2030. Caterpillar is well-positioned to continue improving the quality of the environment and communities by helping our customers fulfill society s basic needs such as shelter, clean water, education and reliable energy, in a sustainable way, said Caterpillar Chairman and CEO Jim Umpleby. We are demonstrating our commitment to a reduced-carbon future in many ways, including through our significant progres
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NASHVILLE, Tenn., April 29, 2021 /PRNewswire/ Cat Financial reported first-quarter 2021 revenues of $639 million, a decrease of $56 million, or 8%, compared with the first quarter of 2020. First-quarter 2021 profit was $140 million, a $50 million, or 56%, increase from the first quarter of 2020.
The decrease in revenues was primarily due to a $40 million unfavorable impact from lower average financing rates and a $19 million unfavorable impact from lower average earning assets.
First-quarter 2021 profit before income taxes was $196 million, a $69 million, or 54%, increase from the first quarter of 2020. The increase was primarily due to a $71 million decrease in provision for credit losses, partially offset by a $13 million increase in general, operating and administrative expenses, primarily due to higher incentive compensation. The impact of lower average financing rates was offset by lower interest expense.
$1.65
Caterpillar Inc. (NYSE: CAT) today announced first-quarter 2021 sales and revenues of $11.9 billion, a 12% increase compared with $10.6 billion in the first quarter of 2020. The increase was due to higher sales volume driven by higher end-user demand and the impact from changes in dealer inventories. Dealers increased their inventories more during the first quarter of 2021 than during the first quarter of 2020.
Operating profit margin was 15.3% for the first quarter of 2021, compared with 13.2% for the first quarter of 2020. First-quarter 2021 profit per share was $2.77, compared with $1.98 profit per share in the first quarter of 2020. Adjusted profit per share in the first quarter of 2021 was $2.87, compared with first-quarter 2020 adjusted profit per share of $1.65. Adjusted profit per share for both quarters excluded restructuring costs, while the first quarter of 2020 also excluded a remeasurement gain of $0.38 per share resulting from the settlement of a non-U.S. pensio
Caterpillar Announces Board of Directors Changes
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DEERFIELD, Ill., April 16, 2021 /PRNewswire/ Caterpillar Inc. (NYSE: CAT) is announcing the retirement of two long-time members of the board of directors, Juan Gallardo and William (Bill) Osborn. The company also announces the election of Cargill Board Chair and Chief Executive Officer (CEO) David MacLennan to the board. All changes were effective April 14, 2021.
Juan Gallardo, member of the Caterpillar board of directors since 1998, has retired effective April 14, 2021.
William (Bill) Osborn, member of the Caterpillar board of directors since 2000, has retired effective April 14, 2021.
David MacLennan, Board Chair and Chief Executive Officer of Cargill, has been elected to the Caterpillar board of directors effective April 14, 2021.
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DEERFIELD, Ill., April 14, 2021 /PRNewswire/ The board of directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of one dollar and three cents ($1.03) per share of common stock, payable on May 20, 2021, to shareholders of record at the close of business on April 26, 2021.
Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher dividends to shareholders for 27 consecutive years and is a member of the S&P 500 Dividend Aristocrat Index.
About Caterpillar
With 2020 sales and revenues of $41.7 billion, Caterpillar Inc. is the world s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Since 1925, we ve been driving sustainable progress and helping customers build a better world through innovative product