Tag: Doug Oberhelman

Business

Caterpillar CEO Doug Oberhelman to retire next year; Umpleby tapped as successor

Caterpillar chairman and chief executive officer Doug Oberhelman has announced that he will retire next year, bringing an end to a 41-year career with the company. Caterpillar has announced successors for both the CEO post and Oberhelman’s role at the head of the board. Oberhelman will oversee the company and its board until March 31, […]

October 17, 2016

Roadbuilding

Caterpillar Chairman & CEO Oberhelman honored with ARTBA Award

The American Road & Transportation Builders Association (ARTBA) has presented Caterpillar Chairman & CEO Doug Oberhelman with the ARTBA Award, the association’s highest recognition honor. ARTBA honored Oberhelman during its annual national convention in Tucson, Arizona. The award was established in 1960 to recognize “outstanding contributions that have advanced the broad goals of the association.” […]

October 12, 2016

Construction Equipment

Caterpillar profit falls 71% in 1Q as energy demand, competitive pressure in construction knock sales

Though things aren’t looking any brighter for Caterpillar on the financial front, chairman and CEO Doug Oberhelman says he is pleased with the effects of an ongoing cost reduction plan. The company today reported first quarter sales and revenues of $9.5 billion, down 26 percent from the first quarter of 2015. Operating profit plummeted 71 percent […]

April 22, 2016

Construction Equipment

Cat’s Oberhelman: “Welcome to the age of smart iron”

In the coming years, the talk from Caterpillar will be technology, technology and more technology, if the remarks Cat Chairman/CEO Doug Oberhelman made at the Munich, Germany, bauma trade show today are any indication. “We talked about technology at the last bauma in 2013, and the digital transformation is even more important now,” he commented […]

April 12, 2016

Business

Caterpillar CEO voices confidence in strength of key industries despite 64% profit decline in 3Q

After preparing everyone last month for the likelihood of continued bad news on the financial front with the launch of an extensive cost-cutting plan, Caterpillar has announced another down quarter with double digit decreases to both sales and profit. Cat sales and revenues fell to $11 billion during the third quarter, a decrease of 19 […]

October 23, 2015

Technology

Culture Dash: Inside Caterpillar and Uptake’s data-driven race to solve heavy equipment’s tech dilemma

It’s no secret that, among owners and operators in the construction industry, there’s a healthy amount of distrust of or flat-out disinterest in a lot of the technology heavy equipment manufacturers are now loading onto their machines. Adoption rates of telematics/machine monitoring, more economical and customizable engine power modes and GPS grading, are all low within […]

October 16, 2015

Roadbuilding

Caterpillar CEO says Congress’ inaction on long-term highway bill threatens nation’s future

The chairman and CEO of Caterpillar Inc. is again speaking out in favor of a long-term highway bill. Doug Oberhelman wrote a column for CNBC published September 17 calling Congress to work to pass a long-term transportation bill as the deadline for the October 29 expiration of the Highway Trust Fund looms closer. He wrote a similar […]

September 24, 2015

Business

Caterpillar beats estimates, boosts profit 20% in 1Q despite dip in sales

Caterpillar delivered very good news for shareholders in its first quarter earnings report, with a big profit increase and an improved outlook for the rest of the year. The company reported a 20-percent boost in profit over Q1 2014 to $1.1 billion, or $1.81 per share. This was despite a 4-percent sales and revenues drop to $12.7 […]

April 24, 2015

Dealers

Caterpillar pushes dealers missing out on billions in sales each year to increase use of telematics data

Contractors aren’t the only ones not using telematics. Dealers of the largest heavy equipment manufacturer in the world are also being urged to up their use of the valuable data the technology creates. Caterpillar says its dealers are failing to capture somewhere in the range of $9 billion and $18 billion in revenue each year, […]

May 21, 2014

Construction Equipment

OEMs used ConExpo to preview what will be the most revolutionary decade in the history of heavy equipment and truck technology

As ConExpos go, the 2014 show was a welcome shot of enthusiasm for the construction industry. But it was a short quote from Doug Oberhelman, CEO of Caterpillar, that I think set the tone and the goals for the next decade in the heavy equipment business. Oberhelman was talking to the press about the completion […]

March 24, 2014

Construction Equipment

Caterpillar CEO talks up prospects of highway bill, says U.S. has a lot to learn about public-private partnerships

What are the prospects for the federal government passing a multi-year highway bill soon? Doug Oberhelman, Caterpillar chairman and chief executive officer, says he was extremely encouraged by President Barack Obama’s recent proposal for a $302-billion, multi-year highway bill. “We have been pushing hard for that at Caterpillar and our customers have been pushing us […]

March 4, 2014

Business

Profits drop 33% in 2013, but Caterpillar’s better-than-expected 4Q provides momentum for ’14

Caterpillar released its fourth quarter and full-year financial results for 2013 this morning, with numbers that were better than expected by Wall Street analysts. The heavy equipment manufacturer’s profits were $1 billion in the fourth quarter, an increase of 44 percent from 4Q 2012. That increase is mostly due to the $580 million impairment charge […]

January 27, 2014