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Exhibit 99.1
Caterpillar Inc.                                     
4Q 2019 Earnings Release

January 31, 2020

FOR IMMEDIATE RELEASE
 
 
 
 
 
Caterpillar Reports Fourth-Quarter and Full-Year 2019 Results; Provides Outlook for 2020
Fourth-quarter sales and revenues down 8%; full-year sales and revenues decreased 2%
Strong operating cash flow; ended the year with $8.3 billion of enterprise cash
Returned $1.3 billion to shareholders in the fourth quarter through dividends and share repurchases; returned about $6.2 billion in 2019
2020 profit per share outlook range of $8.50 to $10.00
 
 
Fourth Quarter
 
Full Year
($ in billions except profit per share)
 
2019
2018
 
2019
2018
Sales and Revenues
 
$13.1
$14.3
 
$53.8
$54.7
Profit Per Share
 
$1.97
$1.78
 
$10.74
$10.26
Adjusted Profit Per Share
 
$2.63
$2.55
 
$11.06
$11.22
DEERFIELD, Ill. - Caterpillar Inc. (NYSE: CAT) today announced fourth-quarter and full-year results for 2019.
Sales and revenues for the fourth quarter of 2019 were $13.1 billion, an 8% decrease compared with $14.3 billion in the fourth quarter of 2018. Fourth-quarter 2019 profit per share was $1.97, compared with $1.78 profit per share in the fourth quarter of 2018. Adjusted profit per share in the fourth quarter of 2019 was $2.63, compared with fourth-quarter 2018 adjusted profit per share of $2.55.
“In the fourth quarter, strong cost control more than offset lower-than-expected end-user demand,” said Jim Umpleby, Caterpillar Chairman and CEO. “Our margin performance reflected our diligent focus on maintaining a flexible and competitive cost structure.”
Full-year sales and revenues in 2019 were $53.8 billion, down 2% compared with $54.7 billion in 2018. Full-year profit was $10.74 per share in 2019, compared with profit of $10.26 per share in 2018. Adjusted profit per share in 2019 was $11.06, compared with adjusted profit per share of $11.22 in 2018.
“While sales declined modestly in 2019, we delivered an operating margin and free cash flow consistent with our long-term targets and continued to invest in services and expanded offerings,” said Umpleby. “The team’s focus on executing our strategy for profitable growth also allowed us to increase our dividend by 20% and return more than $6 billion in capital to shareholders through dividends and share repurchases.”

(more)


The following information was filed by Caterpillar Inc (CAT) on Friday, January 31, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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