Caterpillar Chairman and CEO Jim Owens Discusses Future Profit Targets for Various Economic Scenarios
04 Agosto 2009 - 10:17AM
PR Newswire (US)
Product range, dealer support, service businesses and trough
planning position Caterpillar for success and sustained market
leadership under any conditions PEORIA, Ill., Aug. 4
/PRNewswire-FirstCall/ -- Caterpillar Inc. (NYSE: CAT) Chairman and
Chief Executive Officer Jim Owens told a group of financial
analysts and institutional stockholders that Caterpillar's
strategic trough planning has positioned Caterpillar for long-term
profitability under various economic scenarios. Owens and his
leadership team are outlining Caterpillar's business strategy, and
how the company has swiftly responded to the current global
recession during two days of meetings in Peoria. During the
presentations, Owens and his leadership team ... -- Said
Caterpillar expects profits in the $8-10 per share range within
five years if the global economy experiences a "normal" recovery
cycle -- Indicated Caterpillar has implemented plans to generate
annual profits of $2.50 per share during future recessionary
conditions -- Outlined Caterpillar's ability to generate
significant cash flow -- Reaffirmed Caterpillar's 2009 outlook for
sales and revenues in a range of $32 to $36 billion with a 2009
profit range of $0.40 to $1.50 per share including redundancy costs
of about $0.75 per share for the year. Excluding redundancy costs,
profit is forecast to be between $1.15 and $2.25 per share. --
Reviewed inventory reduction and cost management during the current
downturn -- Discussed future efficiency gains from the Caterpillar
Production System -- Outlined the growth of service related
businesses and the support they provide through the cycle "We
believe a recovery will come and that Caterpillar will benefit from
the world's need for the products we make," said Owens. "In the
last eight months, Team Caterpillar has demonstrated remarkable
agility as we responded to rapid changes in the global economy.
Looking forward, there is far too much uncertainty to know when the
global economy will turn toward robust positive growth, but no
matter what happens, Caterpillar has the people, products, dealer
support and strategies to prosper and to support our customers as
they make sustainable progress possible in every region of the
world," Owens added. About Caterpillar: For more than 80 years,
Caterpillar Inc. has been making progress possible and driving
positive and sustainable change on every continent. With 2008 sales
and revenues of $51.324 billion, Caterpillar is the world's leading
manufacturer of construction and mining equipment, diesel and
natural gas engines and industrial gas turbines. The company also
is a leading services provider through Caterpillar Financial
Services, Caterpillar Remanufacturing Services, Caterpillar
Logistics Services and Progress Rail Services. More information is
available at http://www.cat.com/. SAFE HARBOR Certain statements in
this release relate to future events and expectations and as such
constitute forward-looking statements involving known and unknown
factors that may cause actual results of Caterpillar Inc. to be
different from those expressed or implied in the forward-looking
statements. In this context, words such as "will," "would,"
"expect," "anticipate," "should" or other similar words and phrases
often identify forward-looking statements made on behalf of
Caterpillar. It is important to note that actual results of the
company may differ materially from those described or implied in
such forward-looking statements based on a number of factors and
uncertainties, including, but not limited to, (i) adverse change in
general economic conditions; (ii) adverse change in the industries
Caterpillar serves including construction, infrastructure, mining,
energy, marine and electric power generation; (iii) Caterpillar's
ability to manage material, including steel, and freight costs;
(iv) Caterpillar's ability to generate cash from operations, secure
external funding for its operations and manage its liquidity needs;
(v) material adverse change in customers' access to liquidity and
capital; (vi) currency exchange or interest rates changes; (vii)
political stability; (viii) market acceptance of the company's
products and services; (ix) significant changes in the competitive
environment; (x) epidemic diseases; (xi) severe change in weather
conditions negatively impacting operations; (xii) changes in law,
regulations and tax rates; and (xiii) other general economic,
business and financing conditions and factors described in more
detail in the company's Form 10-Q filed with the Securities and
Exchange Commission on July 31, 2009. This filing is available on
our website at http://www.cat.com/sec_filings. We do not undertake
to update our forward-looking statements. DATASOURCE: Caterpillar
Inc. CONTACT: Jim Dugan, Corporate Public Affairs of Caterpillar
Inc., Office, +1-309-494-4100, Mobile, +1-309-360-7311, Web Site:
http://www.cat.com/
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