Caterpillar, Inc. · NYSE:CAT
Caterpillar — Q4 2015 Earnings Presentation
8 slides from Caterpillar's earnings presentation, Jan 28, 2016
Slide 1: Year-end 2015 Financial Review
Year-end 2015 Financial Review January 28, 2016 CUSTOMERS. PEOPLE. STOCKHOLDERS. 1
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements in this presentation relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “antic
Slide 3: Discussion
Discussion • 4th Quarter and Full Year 2015 Mike DeWalt Results / 2016 Outlook • Important Discussion Points Doug Oberhelman • Q&A Doug Oberhelman Brad Halverson Mike DeWalt CUSTOMERS. PEOPLE. STOCKHOLDERS. 3
Slide 4: 4th Quarter 2015 vs 4th Quarter 2014 Financial Results
4th Quarter 2015 vs 4th Quarter 2014 Financial Results Sales and Revenues – $1.8 billion decline in E&T, $0.8 billion CI, $0.5 billion RI Primary Profit Drivers • Sales volume impact unfavorable $940 million • Restructuring costs unfavorable $585 million • Price realization unfavorable $124 million
Slide 5: Full Year 2015 vs. 2014 Financial Results
Full Year 2015 vs. 2014 Financial Results Sales and Revenues – $3.8 billion decline in E&T, $2.8 billion CI, $1.4 billion RI Primary Profit Drivers • Sales volume impact unfavorable $2.3 billion • Restructuring costs unfavorable $467 million • Costs (Manufacturing, SG&A, R&D) favorable $520 million
Slide 6: Full Year 2015 vs. Original & Latest Outlook
Full Year 2015 vs. Original & Latest Outlook 2015 vs. Original January Outlook 2015 vs. October Outlook • Sales and revenues $3 billion lower • Sales and revenues were lower, but the impact was roughly offset by lower costs • Lower sales volume was partially offset by cost reduction • R&D tax credit
Slide 7: Outlook for 2016
Outlook for 2016 Sales and Revenues Outlook • 2016 is expected to be in a range of $40 to $44 billion – mid-point about $42 billion • At the mid-point, that is a decline of slightly over 10% from 2015 sales and revenues • Energy & Transportation down 10% to 15%, Construction Industries down 5% to 10
Slide 8: Important Discussion Points
8 Important Discussion Points 1. 2015 was a tough year – however, profit per share excluding restructuring costs was close to our outlook from January 2015 ($0.11 per share), despite $3 billion of lower sales. 2. Good operational performance continues – better safety, improved market position for ma