Pandemic Leads Caterpillar To Withdraw 2020 Guidance
Caterpillar Inc. (NYSE: CAT) announced on Thursday the withdrawal of its 2020 guidance due to the spread of the COVID-19 pandemic.
The company says it ended 2019 with $8.3 billion in cash and available credit facilities of $10.5 billion.
Caterpillar is temporarily suspending operations at certain facilities due to the pandemic. The company says it's continuing to run the majority of its U.S. domestic operations and plans to continue operations in other parts of the world, as permitted by authorities.
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Caterpillar is monitoring the situation closely and supply chain teams have been executing business continuity plans, which include, but are not limited to, being alert to potential short supply situations.
Caterpillar is withdrawing its financial outlook for 2020 and further updates will be provided in the first-quarter earnings announcement and conference call on April 28.
Caterpillar shares were trading down 0.16% at $104.50 in Thursday’s pre-market session. The stock has a 52-week high of $150.55 and a 52-week low of $87.50.
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