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CLAIM #13421 · CAT (CAT) · 2024Q2 earnings call · Aug 6, 2024 · due Dec 31, 2024

Yes. So we do expect for the year, I believe, I said that we expect gas compression year-over-year to be higher. So higher in 2024 than 2023.

Jim Umpleby · CEO

PENDING
graded after results covering Dec 31, 2024 are reported

How to check this claim

Look at: Gas compression segment revenue/sales, full fiscal year 2024 vs full fiscal year 2023

It came true if: FY2024 gas compression sales > FY2023 gas compression sales

Where: Company segment disclosures (10-K / Q4 earnings call commentary on Energy & Transportation gas compression)

In context

start worrying that it's a bigger element and a bigger number than it really is. Remember, OEM sales, about 40% of our revenues come from services across the business. Only about 60% is original equipment. And again that does vary by segment. And North America is not 100% of CI sales either. Operator: We'll move next to Steven Fisher at UBS. Steven Fisher: Thanks. Good morning. You mentioned, Jim, the gas compression is starting to soften a little bit. Curious just kind of where you are in the backlog there? Do you expect your sales in gas compression actually be down year-over-year in the second half? And maybe what visibility do you have to rebuilding the backlog there and what it might take? Is it a next round of big LNG projects or how do we think about that? Thank you. James Umpleby: Yes. So we do expect for the year, I believe, I said that we expect gas compression year-over-year to be higher. So higher in 2024 than 2023. We did say we expected a bit of softening in the second half, but still, again, gas compression higher in 2024 total than in 2023. You asked about backlog. Again, we do have quite a strong backlog in our large engines across and our gas turbines around E&T. So again we feel good about that as well. And the comment we made about gas compression that was really recip oil and gas. We expected to soften in the second half of the year, but it didn't. Solar turbines, it also serves oil and gas. And our comment was about recent engines in oil and gas. And again a lot of strength in E&T overall. Operator: We'll go next to Angel Castillo at Morgan Stanley. Angel Castillo: Hi. Good morning. Thanks for taking my question. Just wanted to maybe unpack the backlog dynamic around CI if you could give us

Verify independently

SEC filings for CAT · Claim quote is verbatim from the 2024Q2 earnings call.