Caterpillar (cat.us) announced its financial results for the fourth quarter and full year of 2019 on January 31, 2020, according to the zhitong finance APP. The company reported a loss of $280m on revenue of $13.14bn in the fourth quarter, down 8.1 per cent from a year earlier.

The company earned $1.97 per share in the fourth quarter of 2019, compared with $1.78 per share in the fourth quarter of 2018; Adjusted earnings per share of $2.63, compared with $2.55 per share for the same period in 2018; The operating margin was 14.1 per cent, compared with 13.1 per cent in the fourth quarter of 2018. In addition, the company returned $1.3 billion to shareholders in the fourth quarter through dividends and share buybacks.

full-year 2019 sales and revenue were $53.8 billion, down 2% from a year earlier.

Full-year earnings of $10.74 per share in 2019 versus $10.26 per share in 2018; Adjusted earnings per share of $11.06, compared with $11.22 per share in 2018; Operating margin for the full year was 15.4 per cent, compared with 15.2 per cent in 2018. In addition, the company's operating cash flow was strong throughout 2019, ending the year with $8.3 billion in corporate cash. The company returned about $6.2bn to shareholders through dividends and share buybacks throughout 2019.

The company expects a 2020 earnings per share range of $8.50 to $10.00.

CEO Jim Umpleby said the company expects continued uncertainty in the global economy to put pressure on customers to sell in 2020 and lead dealers to further reduce inventory. The company has adjusted delivery times and is ready to respond quickly to any positive or negative changes in customer needs.

(photo from caterpillar)