Caterpillar (NYSE:CAT) tumbled Friday morning, on reporting fourth-quarter sales and revenues down 8%; full-year sales and revenues decreased 2%
The Deerfield, Illinois announced strong operating cash flow. It ended the year with $8.3 billion of enterprise cash, it also returned $1.3 billion to shareholders in the fourth quarter through dividends and share repurchases. The company returned about $6.2 billion in 2019. CAT also reported 2020 profit per share outlook range of $8.50 to $10.00
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.
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.
CAT shares retreated $2.86, or 2.1%, to $132.52
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