Caterpillar (CAT)
NYSE:CAT
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Earnings Data
Report Date
Aug 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
6.03Last Year’s EPS
4.72Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum: double-digit revenue growth (22% YoY), record backlog (+79% YoY), record orders, improved full-year outlook (low double-digit revenue growth), raised long-term targets and a major capacity expansion to capture data center and prime power demand. These positives were balanced against meaningful near-term headwinds from tariffs (Q1 ~$600M; full-year $2.2–$2.4B), margin pressure in Resource Industries (profit down 39%, margin down ~700 bps) and elevated near-term costs tied to capacity expansion, depreciation and strategic investments. Overall the business trajectory and balance sheet strength, together with record backlog and cash returns to shareholders, outweigh the tariff and timing challenges, and management increased long-term growth ambition while preserving financial discipline.Company Guidance
Revenue and Volume Growth
Sales and revenues of $17.4 billion, up 22% year-over-year, driven by higher sales volume and favorable price realization across segments.
Strong Earnings and EPS
Adjusted profit per share of $5.54, a 30% increase versus prior year (reported profit per share $5.47), with adjusted operating profit of $3.1 billion and an adjusted operating profit margin of 18.0%.
Record Backlog and Orders
Backlog reached a record $63 billion, up $28 billion or 79% year-over-year; total first-quarter orders were an all-time record, providing multi-year revenue visibility.
Segment Outperformance — Construction Industries
Construction Industries sales of $7.2 billion, up ~30% year-over-year; sales-to-users grew 7% in the quarter; segment profit rose ~50% to $1.5 billion and margin improved to 21.4% (up ~160 bps), reflecting favorable price realization and strong dealer inventory build.
Power & Energy Strength and Capacity Opportunity
Power & Energy sales of $7.0 billion, up 22% year-over-year; segment profit $1.5 billion. Caterpillar announced expansion of large reciprocating engine capacity from 2x (2024) to nearly 3x, expected to add ~15 GW of annual capacity and support long-term services and aftermarket growth.
Resource Industries Order Momentum and Strategic Acquisition
Resource Industries recorded robust order intake (highest since 2012) and completed the acquisition of RPMGlobal (mining software) to strengthen technology-enabled solutions; sales-to-users up (company noted a 6% retail increase by Joe; segment sales +4% to $3.8B).
Improved Full-Year Outlook and 2030 Targets Raised
Caterpillar raised full-year 2026 sales and revenues outlook to low double-digit growth and increased 2030 enterprise CAGR target to 6%–9%; power generation sales target increased to more than 3x 2024 levels by 2030.
Cash Generation and Capital Deployment
MP&E free cash flow nearly $600 million in Q1 (≈$350 million higher vs. prior year quarter). Deployed $5.7 billion to shareholders in the quarter, including significant share repurchases (≈$4.5 billion ASR). Company expects MP&E free cash flow for 2026 to be higher than 2025 (~$9.5 billion).
Financial Products Resilience
Financial Products revenues up 9% to $1.1 billion and segment profit up 14% to $245 million; credit metrics improved (past dues 1.39%, down 19 bps; allowance rate 0.86%, lowest ever). Retail new business volume grew 8% — strongest Q1 in over 15 years.
Tariff Estimate Improved vs. Prior Guidance
Q1 tariff-related costs were ~$600 million (favorable to the previous $800 million estimate). Full-year 2026 tariff cost estimate revised down to $2.2–$2.4 billion from prior $2.6 billion.
CAT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CAT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $810.05 | $890.11 | +9.88% |
Jan 29, 2026 | $642.06 | $663.98 | +3.41% |
Oct 29, 2025 | $522.25 | $583.01 | +11.63% |
Aug 06, 2025 | $431.15 | $424.69 | -1.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Caterpillar (CAT) report earnings?
Caterpillar (CAT) is schdueled to report earning on Aug 04, 2026, Before Open (Confirmed).
What is Caterpillar (CAT) earnings time?
Caterpillar (CAT) earnings time is at Aug 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CAT EPS forecast?
CAT EPS forecast for the fiscal quarter 2026 (Q2) is 6.03.
