Content about Doug Oberhelman

August 20, 2013

Caterpillar reported a drop in sales of 16%, year-over-year. Meanwhile, profit was down 43.5% at $960 million, compared to $1.7 billion in the second quarter of 2012.

The company also cut its full-year forecast to $56 billion to $58 billion in revenue, down from its previous expected range of $57 billion to $61 billion. End-user demand remained generally unchanged, but the company reported greater reductions in dealer machine inventory in the second quarter than it had previously anticipated, with greater reductions expected to continue throughout the rest of 2013.

July 29, 2013

For the second time this year, Caterpillar Inc. is initiating a $1 billion accelerated stock repurchase program, this time with Societe Generale.

The construction equipment giant is set to repurchase $1 billion of its common stock, with an immediate delivery of about 11 million shares based on current market prices.