CAT · 10-Q · 2026Q3

CATERPILLAR INC

Filed 2026-11-04 · Industrials · View original filing on EDGAR

Ranked Events

• 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…
• 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…
• 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…
• 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,…
• 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,…
• 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…
• 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.…
• 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 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…
• 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 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…
• 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…
• 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…
• 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…
• 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…
• 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…
• 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…

Revenue by Product (in millions)

Revenue by Geography (in millions)