PEORIA, Ill. (PRNewswire) - PEORIA, Ill., Dec. 2 /PRNewswire-FirstCall/ -- Caterpillar Inc. Chairman and CEO Jim Owens rang the closing bell to end trading on the New York Stock Exchange on Thursday, commemorating the 75th anniversary of the company's initial listing on December 2, 1929.
In comments to media covering the event, Owens reaffirmed the company's outlook issued October 21, 2004 stating that 2005 sales and revenues will be up about 10 percent from 2004 with record profit per share, and that 2004 sales and revenues will be up 30 percent with an 80 to 85 percent increase in profit per share compared to 2003. Caterpillar reported 2003 sales and revenues of $22.76 billion and 2003 profit of $1.1 billon or $3.13 per share.
For more than 75 years, Caterpillar Inc. has been building the world's infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent. Caterpillar is a technology leader and the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. More information is available at
NEW YORK (PRNewswire) - NEW YORK, Dec. 2 /PRNewswire-FirstCall/ -- Caterpillar Inc. Chairman and CEO Jim Owens is ringing the closing bell on the New York Stock Exchange today to mark the company's 75th anniversary listing on the world's foremost securities marketplace. "Over the past 75 years, we've built a company that is as strong financially as the machines and engines we produce," Owens said. "We are well positioned to be celebrating another landmark like this 75 years from now."
In addition to ringing the closing bell, Caterpillar invited thousands of NYSE traders to enjoy a close up look at some of the diverse products that have spurred Caterpillar's growth. A display in front of the exchange featured a versatile 226 Skid-Steer Loader, an M318C Wheel Excavator, and a Quad 900 KW Generator similar to those that helped power the NYSE in the days following the September 11, 2001 terrorist attacks and during the blackout in the summer of 2003. Cat Racing's popular #22 NASCAR Nextel Cup show car was also on display.
A New York Stock Exchange listing is a globally recognized signal of strength and leadership. It is the largest equities marketplace in the world and home to more than 2,800 companies valued at nearly $18 trillion in global market capitalization. The NYSE list includes a cross-section of large, midsize and small capitalization companies who've met the NYSE's stringent requirements including income, market capitalization, cash flow and ethical practices.
For more than 75 years, Caterpillar Inc. has been building the world's infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent. With 2003 sales and revenues of $22.76 billion, Caterpillar is a technology leader and the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. More information is available at http://www.cat.com/ .
Caterpillar Inc. - 75 Years on the New York Stock Exchange
-- The company was listed on December 2, 1929 under the name Caterpillar
Tractor Company. That name was used from 1925 until 1986 when it was
changed to Caterpillar Inc.
-- On the listing day in 1929; 1,882,240 shares were outstanding;
400 shares were traded; the closing price was $56.25; the Dow Jones
Industrial Average was 241.70.
-- If an investor bought just one share of Caterpillar Tractor Company
at $56.25 in 1929, that investment would be worth $14,173.20* today
accounting for the 9 stock splits over the past 75 years. (*As
calculated at close Nov. 26, 2004)
-- Caterpillar has sustained an annual compounded growth rate of 7.65%
each year since 1929.
-- Caterpillar was admitted to the Dow 30 Stocks on May 6, 1991
replacing Navistar International Corporation.
-- For the year 1929 the NYSE Average Daily Volume was 4,276,808 shares;
the NYSE Domestic Market Capitalization was 64.5 billion dollars.
Caterpillar Inc.
PEORIA, Ill. -(Dow Jones)- Caterpillar Inc. (CAT) reaffirmed its October projections for increases in earnings-per-share and revenue for 2004 and 2005.
For 2004, the company expects earnings-per-share to rise 80% to 85% from earnings of $3.13 a share in 2003. This calculates to earnings in a range of $ 5.63 to $5.79 a share.
A Thomson First Call survey of 16 analysts projects earnings of $5.72 a share.
In a press release Thursday, the company projected revenue for the year would increase 30% from 2003 revenue of $22.76 billion, which take it to about $29.59 billion.
Wall Street projects revenue of $28.25 billion for the year.
For 2005, revenue is projected to rise 10% from 2004.
Wall Street expects revenue of $30.53 billion for 2005, a 3% increase from the company's 2004 projection.
Caterpillar also said it expects record earning-per-share in 2005.
Caterpillar Inc. (NYSE:CAT) 91.73 -0.92 / -0.99% 12/2/2004
91.90 0.17 / 0.19% 6:07 PM ET 12/2/2004
Open: 92.65 Volume 1,705,700
High: 92.65 Volume Avg: 2,691,500
Low: 91.06 P/E Ratio: 17.74
Prev. Close: 92.65 Dividend Yield: 1.79
52-Week Low: 68.50 Market Cap (mil): 31,301.58
52-Week High: 93.20
NHR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
