Caterpillar, Inc. (CAT) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the fourth quarter 2025 Caterpillar earnings conference call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our speaker today, Alex Capper. Thank you. Please go ahead. Thank you, Audra. Good morning, everyone, and welcome to Caterpillar's fourth quarter 2025 earnings call. I'm Alex Capper, Vice President of Investor Relations. Joining me today are Joe Creed, CEO, Andrew Bonfield, Chief Financial Officer, Kyle Epley, Senior Vice President of the Global Finance Services Division, and Rob Rengel, Senior Director of IR. During our call, we'll be discussing the fourth quarter earnings release we issued earlier today. You can find our slides, the news release, and a webcast recap at investors.caterpillar.com under Events and Presentations. The content of this call is protected by U.S. and international copyright law. Any rebroadcast, retransmission, reproduction, or distribution of all or part of this content without Caterpillar's prior written permission is prohibited. Moving to slide two. During our call today, we'll make forward-looking statements, which are subject to risks and uncertainties. We'll also make assumptions that could cause our actual results to be different than the information we're sharing with you on this call. Please refer to our recent FCC filings and the forward-looking statements reminder and the news release for details on factors that individually or in aggregate could cause our actual results to vary materially from our forecast. A detailed discussion of the many factors that we believe may have a material effect on our business on an ongoing basis is contained in our SEC filings. On today's call, we'll also refer to non-GAAP numbers. For reconciliation of any non-GAAP num...