Seeking Alpha

Caterpillar beats by $0.39, beats on revenue

  • Caterpillar (CAT): Q1 EPS of $1.61 beats by $0.39.
  • Revenue of $13.24B (+0.2% Y/Y) beats by $100M.
  • Press Release
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Comments (4)
  • EarlyRetirement
    , contributor
    Comments (36) | Send Message
     
    This company can basically report whatever sales figure they desire, as they finance the dealers.
    From the Press Release:
    " In North America, sales increased 16 percent primarily due to the favorable impact of changes in dealer machine inventory and higher deliveries to end users."

     

    The Revenue figure is also not in sync with the data CAT itself released:
    http://bit.ly/1rosJeA
    24 Apr 2014, 08:11 AM Reply Like
  • Hayden Cole
    , contributor
    Comments (130) | Send Message
     
    "In the March Retail Statistics published yesterday, April 23, 2014, the total retail sales of machines to end users dropped to "down 12 percent" from the same three-month period ending March 2013. Are these numbers representative of your 2014 outlook?"

     

    "Yes. Our sales and revenues outlook of $56 billion assumes dealers will sell fewer machines to end users than they did in 2013. However, the impact on Caterpillar sales from lower dealer deliveries to end users is expected to be about offset by the impact of dealer inventory changes."

     

    Is CAT stuffing the channel to meet guidance? End user sales down 12% and revenue comes in flat for the quarter - that's a lot of inventory being pumped into dealers.
    24 Apr 2014, 08:18 AM Reply Like
  • quinnman
    , contributor
    Comments (126) | Send Message
     
    Sales up .2% year over year. They are cooking the books to get these profit numbers
    24 Apr 2014, 11:58 AM Reply Like
  • smurf
    , contributor
    Comments (4823) | Send Message
     
    Regardless of the naysayers and frustrated shorts, wish I'd bought the stock when it was in the 80's not so long ago.
    24 Apr 2014, 04:13 PM Reply Like
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