CAT · 10-Q · 2026Q3 · Full report

Guidance / Outlook

CATERPILLAR INC · 2026-11-04 · Importance 72 · Surprise 58 · No source text

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 expects full-year tariff costs of around $2.2 billion, excluding approximately $520 million of IEEPA tariff recoveries, and expects restructuring costs of about $300 million. Expected 2026 capital expenditures are about $3.3 billion, and the estimated annual effective tax rate is 23.0%, excluding discrete items.

Key facts

• Caterpillar anticipates moderate sales and revenues growth in fourth-quarter 2026 compared with fourth-quarter 2025. source
• Caterpillar continues to expect 2026 sales and revenues growth in the mid-to-high teens compared with 2025. source
• Caterpillar contributed $332 million to pension and other postretirement benefit plans in the first nine months of 2026 and anticipates full-year 2026 contributions of approximately $360 million; contributions were $323 million in the first nine months of 2025. source
• Caterpillar will record its annual pension and OPEB mark-to-market adjustment as of December 31, 2026; the amount is difficult to predict and will depend primarily on 2026 discount-rate changes and actual plan-asset returns versus expected returns. source

Impact estimates