Overview
- Adjusted EPS rose to $4.95 on revenue of $17.64 billion, topping consensus estimates on both profit and sales.
- Energy & Transportation led growth with sales up 17% to $8.4 billion, including a 31% jump in power generation tied to AI infrastructure.
- Caterpillar’s backlog climbed to a record $39.8 billion, providing greater visibility into future deliveries.
- Operating margin contracted to 17.3% from 19.5% a year earlier as elevated costs and tariffs weighed on profitability, with tariff impact at the high end of guidance.
- The company guided to modestly higher full-year sales with a stronger fourth quarter, and the stock surged roughly 12%–13% to all-time highs.