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Caterpillar (CAT) Management Presents at Evercore ISI Industrial Conference

Mar. 06, 2018 12:25 PM ETCaterpillar Inc. (CAT)
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Caterpillar (NYSE:CAT) Evercore ISI Industrial Conference March 6, 2018 8:00 AM ET


Amy Campbell - IR Director

Matt Hohulin - IR Manager


David Raso - Evercore ISI

David Raso

Thank you for coming. It’s nice to start the conference today with the bellwether in the sector, Caterpillar. So, I know we’re all set to get feedback from CAT and a lot of things. Obviously, the last week has brought a lot of interesting wrinkles to the sector. So, I really couldn't think of a better company to kick off the conference with. From Caterpillar today, from Investor Relations, we have Amy Campbell and Matt Hohulin.

So without further ado, let me turn it over to Matt and Amy and then we’ll open it up to Q&A.

Amy Campbell

I’d like to just make a couple of comments on the year, on 2018 or what do you [ph] like me to start.

David Raso

Maybe just how things are progressing at the start of the year and obviously the, I won’t say elephant in the room, but the issue over the last week or so on price costs, with tariffs and so forth, how the management team is thinking about it would be great?

Amy Campbell

Yeah. So I think as everyone knows, 2017 ended what had been the toughest downturn in the company history with sales down for four years. 2017 turned that around, all three primary segments’ sales up. We started the year seeing strength in China, strength in onshore North American oil and gas and we started to see mining equipment get put back to work. As the year progressed, that strength in the construction market moved into North America and also continued to expand in other parts of the world. I’d say still some areas are soft and I think it starts getting worse, but if

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