Caterpillar Inc. (CAT) Q3 2022 Earnings Call Transcript

Caterpillar Inc. (NYSE:CAT) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET

Company Participants

Ryan Fiedler – Vice President-Investor Relations

Jim Umpleby – Chairman and Chief Executive Officer

Andrew Bonfield – Chief Financial Officer

Conference Call Participants

Rob Wertheimer – Melius Research

Stephen Volkmann – Jefferies

David Raso – Evercore

Jamie Cook – Credit Suisse

Michael Feniger – Bank of America

Tim Thein – Citigroup

Jerry Revich – Goldman Sachs

Stanley Elliott – Stifel

Chad Dillard – Bernstein

Steven Fisher – UBS

Kristen Owen – Oppenheimer

Matt Elkott – Cowen

Larry DeMaria – William Blair

John Joyner – BMO Capital Markets

Seth Weber – Wells Fargo

Tami Zakaria – JPMorgan

Operator

Welcome to the Third Quarter 2022 Caterpillar Earnings Conference Call. Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Ryan Fiedler. Thank you. Please go ahead.

Ryan Fiedler

Thank you, Emma. Good morning, everyone, and welcome to Caterpillar’s third quarter of 2022 earnings call. I’m Ryan Fiedler, Vice President of Investor Relations. Joining me today are Jim Umpleby, Chairman and CEO; Andrew Bonfield, Chief Financial Officer; Kyle Epley, Senior Vice President of the Global Finance Services Division; and Rob Rengel, Senior IR Manager.

During our call today, we’ll be discussing the third quarter earnings release we issued earlier today. You can find our slides, the news release and a webcast recap at investors.caterpillar.com under Events & Presentations. The content of this call is protected by U.S. and international copyright law. Any rebroadcast, retransmission, reproduction or distribution of all or part of this content without Caterpillar’s prior written permission is prohibited.

Moving to Slide 2. During our call today, we’ll make forward-looking statements, which are subject to risks and uncertainties. We’ll also make assumptions that could cause our actual results to be different from the information we’re sharing with you on this call.

Please refer to our recent SEC filings and the forward-looking statements reminder in the news release for details on factors that individually or in aggregate could cause our actual results to vary materially from our forecast. A detailed discussion of the many factors that we believe may have a material effect on our business on an ongoing basis is contained in our SEC filings.

On today’s call, we’ll also refer to non-GAAP numbers. For a reconciliation of any non-GAAP numbers to the appropriate U.S. GAAP numbers, please see the appendix of the earnings call slides. In addition, the appendix includes a calendar of expected earnings dates in 2023, starting with January 31 for our fourth quarter call.