Caterpillar Inc. (NYSE: CAT) will release first-quarter 2025 financial results at 5:30 a.m. CDT on Wednesday, April 30. The full text of the release will be available at investors.caterpillar.com/financials/quarterly-results and on PR Newswire.

Caterpillar announced that CEO Jim Umpleby will become Executive Chairman of the Board effective May 1, after nearly 45 years at the company.

Chief Operating Officer Joe Creed, a 28-year veteran of Caterpillar, will succeed him as CEO and join the Board the same day.

Umpleby led Caterpillar through a period of record profitability, including a sixfold increase in adjusted EPS during his tenure. Creed has held key roles across finance, energy, and transportation segments, and became COO in 2023. The transition follows a multi-year succession plan.

Caterpillar pledges $100 million to prepare workforce for the future

As Caterpillar Inc. celebrates its 100th anniversary, the company has announced a $100 million pledge over the next five years to support workforce development. This investment aims to equip future workers with essential skills needed for technology-driven jobs in a rapidly evolving global economy.

Chairman and CEO Jim Umpleby emphasized the company’s commitment to aligning human potential with technological advancement, stating that empowering individuals with relevant skills is essential to building a resilient workforce.

The initiative reflects findings from the Future of Jobs Report 2025, which projects 170 million new roles globally over the next five years, requiring capabilities in areas such as artificial intelligence, robotics, data analytics, and digital modeling. Caterpillar’s pledge will help address the skills gap through a variety of educational and training efforts, including:

- ThinkBIG, a two-year program that supports students training to become technicians
- STEM outreach programs for K-12 students
- The Global Dealer Technician Challenge, which raises awareness about careers in technical fields

Caterpillar Chief Technology Officer Jaime Mineart described the pledge as the company’s first of its kind, reinforcing Caterpillar’s leadership in workforce development.

In parallel with this investment, Caterpillar is also celebrating its centennial through a world tour and community engagement. The Caterpillar Foundation will be making charitable contributions at each tour stop, continuing its support of local nonprofits and sustainability initiatives.

Caterpillar Board Member Daniel M. Dickinson to Step Down

Caterpillar Inc. has announced that Daniel M. Dickinson will not seek re-election to the company’s Board of Directors at its upcoming 2025 Annual Meeting of Shareholders. The decision was voluntarily made by Mr. Dickinson and was not due to any disagreement with the company.

The Board expressed appreciation for Mr. Dickinson’s long-standing service, acknowledging his valuable contributions and dedicated leadership throughout his tenure.

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly dividend of one dollar and forty-one cents ($1.41) per share of common stock, payable May 20, 2025, to shareholders of record at the close of business on April 21, 2025.

Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 31 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Index.

Caterpillar Appoints Christy Pambianchi as Chief Human Resources Officer, Effective May 1

Caterpillar Inc. (NYSE: CAT) has announced the appointment of Christy Pambianchi as Chief Human Resources Officer, effective May 1. She will join the Executive Office, succeeding Cheryl H. Johnson, who previously announced her retirement.

Pambianchi brings 18 years of CHRO experience across multiple industries. Most recently, she served as Chief People Officer at Intel, where she led Human Resources, Corporate Real Estate, Corporate Social Responsibility, and the Transformation Management Office. Her past executive roles include CHRO positions at Verizon and Corning, and she previously held leadership roles at PepsiCo.

Caterpillar Chairman and CEO Jim Umpleby commented, “Our people are a source of innovation and competitive advantage, and we must continue to attract and retain the best talent to serve our customers. Christy is an experienced executive with strong credentials and a history of demonstrated success. I am confident she will contribute to our journey of profitable growth.”

Pambianchi holds a bachelor’s degree from Cornell University’s School of Industrial and Labor Relations. She is a fellow of the National Academy of Human Resources and serves on several boards that promote the advancement of the profession.

Caterpillar reported fourth-quarter and full-year 2024 financial results, showing a decline in revenue but an increase in profit per share. Fourth-quarter sales and revenues were $16.2 billion, a 5 percent decrease from the previous year, while full-year sales and revenues totaled $64.8 billion, down 3 percent. The decline was due to lower equipment sales volume, partially offset by favorable price realization.

Fourth-quarter profit per share increased to $5.78 from $5.28, while adjusted profit per share was $5.14, slightly lower than $5.23 in 2023. For the full year, profit per share rose to $22.05 from $20.12, with adjusted profit per share increasing to $21.90 from $21.21. Operating profit margin for the quarter was 18.0 percent, compared to 18.4 percent a year ago, and for the full year, it improved to 20.2 percent from 19.3 percent.

Caterpillar generated $12.0 billion in operating cash flow and ended the year with $6.9 billion in enterprise cash. The company spent $10.3 billion on share repurchases and dividends, including $7.7 billion for stock buybacks and $2.6 billion for dividends.

Segment-wise, Construction Industries revenue declined by 8 percent in the quarter due to lower sales volume and pricing. Resource Industries revenue dropped 9 percent, mainly due to dealer inventory reductions. Energy & Transportation revenue was flat, with growth in power generation offset by declines in oil and gas sales. Financial Products revenue increased by 4 percent, though profit in this segment fell by 29 percent due to lower margins and higher credit losses.

CEO Jim Umpleby highlighted the company's strong performance, noting record adjusted profit per share and solid cash flow despite lower revenue. As Caterpillar enters its centennial year, management remains focused on customer service, strategic investments, and long-term profitability.