Caterpillar Celebrates 90 Years on the New York Stock Exchan
NEW YORK, Dec. 17, 2019 /PRNewswire/ -- Caterpillar Inc. Chairman and CEO Jim Umpleby will ring the opening bell today on the New York Stock Exchange (NYSE) to mark the 90th anniversary of the company's listing on the NYSE, which is considered the world's foremost securities marketplace. Of the approximately 2,200 companies listed on the NYSE, Caterpillar (NYSE: CAT) is among only three percent that have been consecutively listed for 90 years or more.
"I am proud of our entire Caterpillar team. Every day, they create solutions to help our customers build a better world," Umpleby said.
"Our team's relentless focus on executing our strategy for profitable growth, including the advanced technologies that we are showcasing at the NYSE today, has given the company a strong balance sheet and the ability to return a significant part of our free cash flow to shareholders. Since 2017, we have repurchased about $7.1 billion in stock and paid about $3.5 billion in dividends."
As part of the celebration, Caterpillar today is giving Wall Street traders the opportunity to handle an Advanced Construction Excavator Simulator System. Through a panel of video monitors and remote-control technology, traders will have the chance to take a turn at the excavator's controls and attempt to dig virtual trenches, footings and more. There will also be a variety of Cat machines on display in front of the NYSE including a wheel loader, wheeled excavator, industrial loader and compact loader, all of which have played a part in Caterpillar's historical success.
Listing on the NYSE is a globally recognized signal of corporate strength and leadership, reserved for companies that meet the NYSE's stringent requirements for income, market capitalization, cash flow and ethical practice.
Caterpillar Inc. - 90 Years on the New York Stock Exchange
For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2018 sales and revenues of $54.722 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
FORWARD-LOOKING STATEMENTS Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "forecast," "target," "guide," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events including natural disasters; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; and (xxvi) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.
SOURCE Caterpillar Inc.