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Caterpillar | 10-Q: Q1 2025 Earnings Report

卡特彼勒 | 10-Q:2025財年一季報
美股SEC公告 ·  2025/05/07 21:32

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Caterpillar reported first-quarter 2025 sales and revenues of $14.249 billion, down 10% from $15.799 billion in Q1 2024, primarily due to lower sales volume and unfavorable price realization. Profit declined 30% to $2.003 billion compared to $2.856 billion a year ago. Operating profit margin decreased to 18.1% from 22.3% in Q1 2024.Construction Industries segment saw the steepest decline with sales falling 19% to $5.184 billion, driven by lower dealer inventory changes and unfavorable price realization. Resource Industries sales dropped 10% to $2.884 billion, while Energy & Transportation sales decreased 2% to $6.568 billion. Financial Products segment revenues grew 2% to $1.007 billion.The company ended Q1 with $3.6 billion in cash and reported order backlog of $35.0 billion, up $5.0 billion from Q4 2024. For full-year 2025, Caterpillar expects sales to be about flat compared to 2024 in a pre-tariff scenario, with machine dealer inventories projected to remain relatively stable. The company maintained its quarterly dividend of $1.41 per share.
Caterpillar reported first-quarter 2025 sales and revenues of $14.249 billion, down 10% from $15.799 billion in Q1 2024, primarily due to lower sales volume and unfavorable price realization. Profit declined 30% to $2.003 billion compared to $2.856 billion a year ago. Operating profit margin decreased to 18.1% from 22.3% in Q1 2024.Construction Industries segment saw the steepest decline with sales falling 19% to $5.184 billion, driven by lower dealer inventory changes and unfavorable price realization. Resource Industries sales dropped 10% to $2.884 billion, while Energy & Transportation sales decreased 2% to $6.568 billion. Financial Products segment revenues grew 2% to $1.007 billion.The company ended Q1 with $3.6 billion in cash and reported order backlog of $35.0 billion, up $5.0 billion from Q4 2024. For full-year 2025, Caterpillar expects sales to be about flat compared to 2024 in a pre-tariff scenario, with machine dealer inventories projected to remain relatively stable. The company maintained its quarterly dividend of $1.41 per share.
卡特彼勒報告了2025年第一季度銷售和收入爲142.49億,較2024年第一季度的157.99億下降了10%,主要由於銷售成交量降低和不利的價格實現。利潤下降30%,至20.03億,而一年前爲28.56億。營業利潤率從2024年第一季度的22.3%下降至18.1%。施工行業部門的銷售下降幅度最大,銷售額降至51.84億,下降了19%,受經銷商庫存變化和不利價格實現的影響。資源行業銷售下降10%,至28.84億,而能源與交通的銷售下降2%,至65.68億。金融產品部門的收入增長2%,至10.07億。該公司在第一季度結束時現金爲36億,並報告訂單積壓爲350億,較2024年第四季度增加了50億。對於2025年全年,卡特彼勒預計銷量與2024年持平,在無關稅的預期下,機械經銷商庫存預計將保持相對穩定。公司維持每股1.41美元的季度股息。
卡特彼勒報告了2025年第一季度銷售和收入爲142.49億,較2024年第一季度的157.99億下降了10%,主要由於銷售成交量降低和不利的價格實現。利潤下降30%,至20.03億,而一年前爲28.56億。營業利潤率從2024年第一季度的22.3%下降至18.1%。施工行業部門的銷售下降幅度最大,銷售額降至51.84億,下降了19%,受經銷商庫存變化和不利價格實現的影響。資源行業銷售下降10%,至28.84億,而能源與交通的銷售下降2%,至65.68億。金融產品部門的收入增長2%,至10.07億。該公司在第一季度結束時現金爲36億,並報告訂單積壓爲350億,較2024年第四季度增加了50億。對於2025年全年,卡特彼勒預計銷量與2024年持平,在無關稅的預期下,機械經銷商庫存預計將保持相對穩定。公司維持每股1.41美元的季度股息。

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