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キャタピラー(CAT)2017Q4決算 全セグメント好調





・発表日 2018/1/25 プレマーケット
・売上 $12.9B +34.8% コンセンサス予想より+$920M
・non-GAAP EPS $2.16 +162.6% コンセンサス予想より+$0.37
・GAAP EPS -$2.18
・GAAP net income -$1.29B
・2018FYの予想non-GAAP EPSは$8.25〜9.25

・決算発表後の株価 終値で+0.61%
・2018FYコンセンサス予想PER 169.37/8.02=21.11
・2019FYコンセンサス予想PER 169.37/9.03=18.75




Construction Industries – The company expects growth in 2018 with some tempering in the latter part of the year, largely due to anticipated seasonality of sales in China. Caterpillar expects improvement in North American residential, non-residential and infrastructure. The outlook does not include any impact from a potential U.S. infrastructure bill. Europe and Asia/Pacific are expected to continue to grow, and the recovery that started in Africa/Middle East and Latin America is expected to extend into 2018.
Resource IndustriesThe company believes that global economic momentum and increasing commodity prices are restoring miners’ business confidence and financial health. The company anticipates miners’ capital spend to increase as mining businesses invest in equipment replacement cycles. Higher machine utilization levels should support continued strong aftermarket parts opportunities. Strong global demand is expected to be a positive for heavy construction.
Energy & TransportationSales into Oil and Gas applications are expected to increase in 2018, led by reciprocating engines for gas compression and well servicing in North America. The current turbines backlog is healthy in support of the midstream pipeline business. The company expects an increase in Transportation primarily from recent acquisitions in rail services, while the locomotive and marine markets are expected to remain challenged. Power Generation sales are forecast to be slightly up after a multi-year downturn. Sales into Industrial applications are expected to be about flat.


セグメントは「Construction Industries」「Resource Industries」「Energy & Transportation」「Financial Products」です。

Construction Industriesの売上は$5.25B +47%、利益は$838M +151%でした。

Resource Industriesの売上は2.2B +53%利益は$209M(2016Q4は-$711M)でした。

Energy & Transportationの売上は$4.7+22%、利益は$881M +38%でした。

Financial Productsの売上は$783M +3%、利益は$233M +56%でした。  






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