CAT · Industrials

CATERPILLAR INC

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-08

• Power Generation and Data CentersImportance 20 · Surprise 24
  Anthropic agreed to spend $3.4 billion with Texas supplier OnePWR Solutions for gas-fired generators covering 1.7 gigawatts of capacity. Anthropic took over OnePWR’s orders with Caterpillar, originally placed two years…
• Customer Power-Generation CommitmentsImportance null · Surprise null
  Anthropic took over orders that OnePWR Solutions had placed with Caterpillar two years earlier, securing gas-fired generator equipment for its data-center power needs. The reported agreement covers 1.7 gigawatts of…

News · 2026-11-07

• Revenue Performance and MixImportance 64 · Surprise 40
  Caterpillar reported third-quarter 2026 revenue of US$20.7 billion and net income of US$3.3 billion. The company reported a record backlog alongside the quarterly results. Caterpillar confirmed full-year 2026 sales…
• Guidance / OutlookImportance 58 · Surprise 40
  Caterpillar confirmed mid-to-high-teens full-year 2026 sales guidance. The report characterizes the guidance as steady following the third-quarter 2026 results, but does not specify the sales-growth basis or provide a…
• Order Backlog and Book-to-BillImportance 33 · Surprise 42
  Third-party reporting says Caterpillar ended the third quarter of 2026 with a record backlog. The report does not quantify the backlog or provide order intake, book-to-bill, segment, or geographic detail. It therefore…

News · 2026-11-06

• Order Backlog and Book-to-BillImportance 69 · Surprise 64
  Caterpillar’s Q3 2026 order backlog reached a record $78 billion, described as nearly double its prior level. The report said sales growth slowed in the quarter but gave no revenue growth rate or backlog-to-sales…
• Power Generation Capacity ExpansionImportance 59 · Surprise 82
  A third-party report says Caterpillar plans to nearly triple its large-engine capacity by 2030. The expansion is intended to address capacity limits and reflects a long-term growth initiative. The report does not…
• Manufacturing and CapacityImportance 46 · Surprise 42
  Caterpillar said Construction Industries Group President Rod Shurman will discuss growth initiatives at a Bernstein fireside chat in North Carolina on November 17, 2026. The initiatives include Cat Compact, Major…

News · 2026-11-05

• Supply Chain Tariff ImpactImportance 64 · Surprise 42
  Caterpillar faces estimated annual tariff costs of $2.2 billion. The report said these costs compound the difficulty of converting its $78.1 billion backlog into revenue amid slow deliveries. The stated annual cost…
• Order Backlog and Book-to-BillImportance 58 · Surprise 42
  Caterpillar’s order backlog reached a record $78.1 billion, up $6 billion from the prior quarter. Third-party reporting said demand for heavy equipment and power systems remains high, but production-capacity…
• Guidance / OutlookImportance 58 · Surprise 40
  Third-party reporting said Caterpillar maintained its full-year 2026 guidance rather than raising it after its third-quarter results. The company continued to expect mid-to-high-teens revenue growth for 2026. Adjusted…
• Trade Policy and TariffsImportance 55 · Surprise 24
  Third-party reporting estimated Caterpillar’s annual tariff costs at $2.2 billion. The digest did not identify the specific tariffs, affected jurisdictions, or the timeframe used for the annual estimate. The reported…

10-Q · 2026-11-04

• Guidance / OutlookImportance 72 · Surprise 58
  For the fourth quarter of 2026, Caterpillar anticipates moderate sales and revenues growth year over year; full-year 2026 sales and revenues are expected to grow in the mid-to-high teens compared with 2025. The company…
• Trade Policy and TariffsImportance 71 · Surprise 60
  On February 20, 2026, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) on goods imported into the United States were unauthorized. Caterpillar incurred…
• Acquisition / Partnership / DivestitureImportance 65 · Surprise 60
  Caterpillar completed its acquisition of 100 percent of Fabick’s equity on October 31, 2026. The preliminary purchase price included $1.24 billion in cash paid at closing and an estimated additional $165 million…
• Capital ExpendituresImportance 65 · Surprise 32
  Caterpillar expects Machinery, Power & Energy capital expenditures to be approximately $3.3 billion in full-year 2026. Capital expenditures were $2.009 billion in the first nine months of 2026, compared with $1.944…
• Supply Chain Tariff ImpactImportance 64 · Surprise 42
  Caterpillar recorded $128 million of IEEPA tariff recoveries in third-quarter 2026 and $520 million for the first nine months, recognized in cost of goods sold and included in operating profit. Full-year 2026 tariff…
• Dealer Inventory ChangesImportance 63 · Surprise 64
  Total dealer inventory increased $800 million in the third quarter of 2026, compared with a $600 million increase in the prior-year quarter; Construction Industries inventory increased $300 million, versus $600…
• Order Backlog and Book-to-BillImportance 61 · Surprise 32
  At September 30, 2026, Caterpillar’s firm order backlog was approximately $78.1 billion, about $6.0 billion higher than at the end of the second quarter of 2026. Backlog increased across all three primary segments,…
• Liquidity and Cash PositionImportance 58 · Surprise 56
  Caterpillar ended the third quarter of 2026 with $7.929 billion of cash, down $2.051 billion from year-end 2025; MP&E also held $1.572 billion in highly liquid available-for-sale debt securities and bank time deposits.…
• Geographic Revenue PerformanceImportance 58 · Surprise 48
  Third-quarter sales increased 25% in North America, 15% in Latin America and 16% in EAME, while Asia/Pacific sales declined 3%; the North America and EAME increases were supported by higher equipment sales to end…
• Operating Cash Flow TrendsImportance 58 · Surprise 56
  Consolidated operating cash flow for the first nine months of 2026 was $10.593 billion, up $2.445 billion from the same period in 2025. MP&E operating cash flow increased to $11.534 billion from $7.745 billion,…
• Revenue Performance and MixImportance 54 · Surprise 40
  Third-quarter 2026 sales and revenues rose 17% year over year to $20.682 billion, as volume added $2.2 billion and favorable price realization added $663 million. For the nine months ended September 30, 2026, sales and…
• Segment Revenue PerformanceImportance 53 · Surprise 48
  Power & Energy sales increased 18% to $8.784 billion in the third quarter and 19% to $24.053 billion for the first nine months of 2026. Construction Industries sales rose 18% to $7.983 billion in the third quarter and…
• Operating Income and MarginsImportance 53 · Surprise 48
  Third-quarter 2026 consolidated operating profit was $4.214 billion, compared with $3.052 billion in the third quarter of 2025, and operating margin rose to 20.4% from 17.3%. For the first nine months of 2026,…
• Segment ProfitabilityImportance 53 · Surprise 48
  Third-quarter Power & Energy profit rose 31% to $2.143 billion and its margin increased to 24.4% from 21.9%; Construction Industries profit rose 33% to $1.831 billion and margin increased to 22.9% from 20.4%. Resource…
• Outstanding IndebtednessImportance 47 · Surprise 22
  Total debt at September 30, 2026 was $45.201 billion, an increase of $1.871 billion from year-end 2025. MP&E debt decreased $41 million during the first nine months of 2026, while Financial Products debt increased…
• Headcount / RestructuringImportance 46 · Surprise 42
  Caterpillar expects approximately $300 million of restructuring costs in 2026. Prior restructuring actions are expected to reduce operating costs, primarily cost of goods sold and SG&A, by about $48 million in 2026…
• Manufacturing and CapacityImportance 46 · Surprise 42
  Caterpillar expects Power & Energy sales growth in the fourth quarter to be supported by continued capacity ramp-up. The company says increased output from its capacity expansion plans remains on schedule and is part…
• Capital Return ProgramImportance 44 · Surprise 24
  Caterpillar’s goal is to return substantially all Machinery, Power & Energy free cash flow to shareholders over time through dividends and share repurchases while maintaining a mid-A credit rating. In October 2026, the…
• Power Generation and Data CentersImportance 38 · Surprise 24
  Power Generation demand remains strong in 2026, and Caterpillar expects growth in reciprocating engines, turbines and turbine-related services. Data-center construction for cloud computing and generative AI is a key…
• Construction End-Market DemandImportance 38 · Surprise 24
  Caterpillar expects strong fourth-quarter and full-year 2026 growth in Construction Industries equipment sales to end users, supported by healthy end markets. North American demand is supported by healthy construction…
• Mining and Rail DemandImportance 38 · Surprise 24
  Resource Industries reports continued positive momentum, with robust order rates driving strong backlog growth, high customer product utilization and an elevated fleet age. Most key commodities remain above investment…
• Income Tax Rate ChangesImportance 36 · Surprise 40
  The third-quarter 2026 effective tax rate was 22.9%, down from 26.7% in third-quarter 2025; excluding discrete items, the estimated annual rate declined to 23.0% from 24.0%. For the first nine months, the effective tax…
• Oil and Gas DemandImportance 32 · Surprise 24
  Oil & Gas is expected to grow moderately in 2026, with reciprocating engine sales anticipated to increase on strong demand in gas-compression applications. Caterpillar expects continued momentum in reciprocating-engine…
• Finance Receivables ActivityImportance 30 · Surprise 40
  Financial Products’ nine-month segment profit increased 19% to $837 million, with $137 million of benefit from higher average earning assets and a $56 million offset from higher Cat Financial credit-loss provisions.…
• Operating Expense TrendsImportance 25 · Surprise 32
  Resource Industries’ nine-month SG&A and R&D expenses increased $137 million, primarily because of higher compensation expenses. The increase contributed to a 2% decline in Resource Industries’ segment profit to $1.693…
• Strategic Growth PillarsImportance 23 · Surprise 24
  Caterpillar intends to use its liquidity and debt capacity to fund initiatives targeting long-term profitable growth. Management’s three strategic growth pillars are Commercial Excellence, Advanced Technology Leader…

News · 2026-11-04

• Order Backlog and Book-to-BillImportance 88 · Surprise 82
  Caterpillar reported a record $78 billion backlog, approximately 96% higher year over year. All three primary segments posted sequential backlog growth for the fourth consecutive quarter, indicating broad-based order…
• Manufacturing and CapacityImportance 38 · Surprise 24
  Caterpillar’s strong order demand is running ahead of its near-term ability to deliver equipment, with production constraints limiting backlog conversion. The report notes that expanding production takes time, so a…
• Guidance / OutlookImportance 26 · Surprise 24
  Management maintained Caterpillar’s full-year 2026 outlook during its third-quarter earnings call. Executives acknowledged tariff pressures, higher manufacturing costs and production constraints, and addressed…
• Revenue Performance and MixImportance 13 · Surprise 6
  Caterpillar reported third-quarter 2026 revenue of $20.7 billion in its October 29 earnings release. A November 4 report said consolidated revenue missed targets, although it did not provide the target or a…

News · 2026-11-03

• Customer Power-Generation CommitmentsImportance 34 · Surprise 42
  Atlas Energy Solutions secured long-lead power-generation equipment, including 1.4 GW under a global framework agreement with Caterpillar. The equipment is intended to support Atlas’s efforts to meet data-center power…

News · 2026-11-02

• Acquisition / Partnership / DivestitureImportance 41 · Surprise 60
  Caterpillar completed its acquisition of John Fabick Tractor Company, known as Fabick, on November 2, 2026, after entering into an agreement in September. Fabick is a Cat dealer with more than 100 years of customer…

News · 2026-11-01

• Power Generation and Data CentersImportance 17 · Surprise 24
  Caterpillar reported strong sales growth in its Power & Energy, Construction Industries, and Resource Industries segments in the third quarter. Significant demand from data centers boosted power-generation sales. The…
• Revenue Performance and MixImportance 15 · Surprise 38
  Caterpillar reported third-quarter revenue of $20.68 billion, narrowly below analyst estimates of $20.69 billion. Adjusted earnings were $7.20 per share, up from $4.95 a year earlier and above the $7.03 analyst…

News · 2026-10-31

• Operating Income and MarginsImportance 42 · Surprise 40
  Caterpillar’s Q3 2026 operating margin was reported at 20.4%, compared with 17.3% in Q3 2025, an increase of 3.1 percentage points. A separate article described adjusted operating margin as 20.6%. The articles also…
• Revenue Performance and MixImportance 41 · Surprise 22
  Caterpillar’s Q3 2026 sales rose 17.3% year over year to $20.68 billion. Revenue exceeded analysts’ $20.37 billion estimate by 1.5%.

News · 2026-10-30

• Order Backlog and Book-to-BillImportance 50 · Surprise 24
  Third-party reports cited Caterpillar’s backlog at approximately $72 billion to $78 billion, with the backlog extending into 2029. The reports attributed much of the demand to AI infrastructure and highlighted strong…
• Acquisition / Partnership / DivestitureImportance 34 · Surprise 42
  Caterpillar agreed to acquire John Fabick Tractor Company, a Cat dealer with more than a century of service. The reported rationale is to support a transition of Fabick ownership while maintaining local service and…

Earnings call · 2026-10-29

• Strategic Rental Joint VentureImportance 35 · Surprise 42
  Caterpillar said its Cat dealer-owned rental joint venture, Major Projects, launched in the prior quarter and is seeing strong customer interest. The venture is intended to serve large-scale infrastructure projects…
• Products and TechnologyImportance 34 · Surprise 42
  Caterpillar launched Cat Compact earlier in 2026 as part of its strategy to reach more small contractors in the growing compact construction equipment industry. The company is expanding autonomous hauling technology…
• Autonomous Equipment ExpansionImportance 34 · Surprise 42
  Caterpillar is working with Luck Stone to expand autonomous hauling technology to two additional Virginia operations, following a pilot at the Bull Run quarry. Since going live in November 2024, autonomous trucks at…
• 10-Megawatt Engine PlatformImportance 34 · Surprise 42
  Management said the restarted 10-megawatt MaK engine program remains on track and will be used in power generation. Caterpillar plans to ship its first units in the fourth quarter of 2026 and continue ramping through…
• Operating Expense TrendsImportance 32 · Surprise 24
  Construction Industries reported higher SG&A and R&D expenses in the third quarter, related to digital and technology investments. For the fourth quarter, Caterpillar expects enterprise SG&A and R&D expenses to be…
• Power Generation Capacity ExpansionImportance 32 · Surprise 24
  Management said customer discussions were unchanged from the prior quarter and described continuing momentum in standby diesel backup, supported by cloud-compute and AI demand. It said installed capacity is fungible…
• End-Market Demand TrendsImportance 26 · Surprise 24
  Management described healthy construction conditions in North America, with spending supported by the Infrastructure Investment and Jobs Act (IIJA), other critical-infrastructure programs, and data centers. It expects…
• Distribution ChannelsImportance 21 · Surprise 24
  Caterpillar supports construction customers who choose to own, lease, or rent equipment, and management said dealer rental revenue in North America continued to grow, prompting increased investment in dealer fleets.…
• Geographic Market CommentaryImportance 20 · Surprise 24
  In EAME, third-quarter Construction Industries sales to users were above expectations, with growth in Europe and Africa partly offset by weakness in the Middle East. Management expects Europe to remain stable,…
• Income Tax Rate ChangesImportance 13 · Surprise 6
  The third-quarter 2026 provision for income taxes, excluding discrete items, reflected a global estimated annual effective tax rate of 23%. Caterpillar continues to estimate a 23% global annual effective tax rate for…