CAT · 10-Q · 2026Q2 · Full report
Dealer Inventory Changes
CATERPILLAR INC · 2026-08-05 · Importance 69 · Surprise 64 · From source text
Total dealer inventory increased $600 million in the second quarter of 2026, compared with a $100 million increase in the second quarter of 2025. Construction Industries dealer inventory increased $400 million in the second quarter, versus a $300 million decrease in the prior-year quarter. Dealer inventory increased $2.6 billion during the first six months of 2026, compared with only $200 million in the first six months of 2025. Construction Industries dealer inventory increased $1.9 billion in the first six months of 2026, compared with a $400 million decrease in the prior-year period.
Key facts
- Company expects a more typical decrease in Construction Industries’ dealer inventory of over $1.0 billion in the fourth quarter of 2026 and expects Construction Industries’ dealer inventory will be higher at year-end 2026 compared to year-end 2025. source
- Construction Industries' dealer inventory increased $1.9 billion during the six months ended June 30, 2026, compared with a decrease of $400 million during the six months ended June 30, 2025. source
- Dealer inventory increased $2.6 billion during the six months ended June 30, 2026, compared with an increase of $200 million during the six months ended June 30, 2025. source
- Company expects a slight increase in dealer inventory in Q3 2026 versus Q3 2025, but modestly lower than the increase in Q3 2025; specifically, a slight increase is expected. source
- Construction Industries' dealer inventory increased by $400 million during the second quarter of 2026, compared with a $300 million decrease during the second quarter of 2025. source
- Total dealer inventory increased $600 million during the second quarter of 2026, compared with an increase of $100 million during the second quarter of 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +2.3% | Dealer inventory increased $2.6 billion during the six months ended June 30, 2026, compared with an increase of $200 million during the… |
| assets | positive | realized | +1.9% | Construction Industries' dealer inventory increased $1.9 billion during the six months ended June 30, 2026, compared with a decrease of… |
| assets | negative | probable | — | Company expects a more typical decrease in Construction Industries’ dealer inventory of over $1.0 billion in the fourth quarter of 2026… |
| assets | positive | probable | — | Company expects a more typical decrease in Construction Industries’ dealer inventory of over $1.0 billion in the fourth quarter of 2026… |