Caterpillar (CAT) stock was up on Thursday following the release of the construction equipment manufacturer’s Q4 2025 earnings report. The company reported adjusted earnings per share of $5.16, which was well above Wall Street’s estimate of $4.71. The company’s adjusted EPS also grew slightly from the $5.14 reported in Q4 2024.
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Caterpillar reported revenue of $19.1 billion during its fourth quarter of 2025, which was better than the $17.85 billion that analysts expected. The company’s revenue also increased 17.8% year-over-year from $16.21 billion. Caterpillar’s revenue growth was powered by:
- A 15% increase in Construction Industries revenue.
- A 13% jump in Resource Industries revenue.
- A 23% boost in Power & Energy revenue.
- A 1% growth in All Other Segment revenue.
Caterpillar stock was up 1.2% in pre-market trading on Thursday, following a 0.68% rally yesterday. The shares have increased 12.55% year-to-date and 71.55% over the past 12 months.
Caterpillar Guidance
Caterpillar didn’t include a formal guidance update in its most recent earnings report. Even so, management was optimistic following the Q4 beats.
Caterpillar CEO Joe Creed said, “Our centennial year marked a significant milestone, underscored by the highest full-year sales and revenues in Caterpillar’s history and a single-quarter record of $19.1 billion. These results demonstrate the strength of our end markets and our disciplined execution. With a record backlog, we enter the new year with strong momentum and a continued focus on delivering long-term value for our customers and shareholders.”
Is Caterpillar Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Caterpillar is Moderate Buy, based on nine Buy, six Hold, and a single Sell rating over the past three months. With that comes an average CAT stock price target of $642.29, representing a potential 0.15% downside for the shares. These ratings and price targets will likely change as analysts update their coverage following today’s earnings report.
