CAT · 10-Q · 2026Q3 · Full report
Operating Income and Margins
CATERPILLAR INC · 2026-11-04 · Importance 53 · Surprise 48 · No source text
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, operating profit increased to $11.594 billion from $8.491 billion, while operating margin increased to 19.8% from 17.5%. Nine-month Machinery, Power & Energy operating profit was $11.357 billion, compared with $8.312 billion in 2025; Financial Products reported an operating loss of $524 million, versus a $437 million loss.
Key facts
- Third-quarter 2026 profit was $3.287 billion, up $987 million or 43% from $2.300 billion in third-quarter 2025. source
- Third-quarter 2026 operating profit was $4.214 billion, up $1.162 billion or 38% from $3.052 billion in third-quarter 2025. source
- For the nine months ended September 30, 2026, consolidated operating profit was $11.594 billion, up $3.103 billion or 37% from $8.491 billion in the comparable 2025 period. source
- Third-quarter 2026 operating profit margin was 20.4%, compared with 17.3% in third-quarter 2025. source
- Operating profit margin was 19.8% for the nine months ended September 30, 2026, compared with 17.5% in the comparable 2025 period. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +15.0% | For the nine months ended September 30, 2026, consolidated operating profit was $11.594 billion, up $3.103 billion or 37% from $8.491… |
| net_income | positive | realized | +4.8% | Third-quarter 2026 profit was $3.287 billion, up $987 million or 43% from $2.300 billion in third-quarter 2025. |
| margin | positive | realized | +3.1% | Third-quarter 2026 operating profit margin was 20.4%, compared with 17.3% in third-quarter 2025. |