Caterpillar, Inc. (CAT) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.397 Welcome to the fourth quarter 2025 Caterpillar earnings conference call. 00:00:04.397 -- 00:00:07.941 Please be advised that today's conference is being recorded. 00:00:07.941 -- 00:00:11.406 I would now like to hand the conference over to our speaker today, Alex Capper. 00:00:11.406 -- 00:00:14.129 Thank you. Please go ahead. 00:00:14.129 -- 00:00:17.353 Thank you, Audra. Good morning, everyone, and welcome to Caterpillar's fourth quarter 00:00:17.353 -- 00:00:22.640 2025 earnings call. I'm Alex Capper, Vice President of Investor Relations. 00:00:22.640 -- 00:00:28.387 Joining me today are Joe Creed, CEO, Andrew Bonfield, Chief Financial Officer, 00:00:28.387 -- 00:00:33.780 Kyle Epley, Senior Vice President of the Global Finance Services Division, and Rob Rengel, 00:00:33.780 -- 00:00:36.223 Senior Director of IR. 00:00:36.223 -- 00:00:39.767 During our call, we'll be discussing the fourth quarter earnings release we issued earlier 00:00:39.767 -- 00:00:44.793 today. You can find our slides, the news release, and a webcast recap 00:00:44.793 -- 00:00:46.913 at investors.caterpillar.com 00:00:47.356 -- 00:00:50.199 under Events and Presentations. 00:00:50.199 -- 00:00:52.582 The content of this call is protected by U.S. 00:00:52.582 -- 00:00:57.688 and international copyright law. Any rebroadcast, retransmission, reproduction, or 00:00:57.688 -- 00:01:03.207 distribution of all or part of this content without Caterpillar's prior written permission 00:01:03.207 -- 00:01:04.748 is prohibited. 00:01:04.748 -- 00:01:09.253 Moving to slide two. During our call today, we'll make forward-looking statements, which 00:01:09.253 -- 00:01:13.338 are subject to risks and uncertainties. We'll also make assumptions that could cause 00:01:13.338...