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Caterpillar (CAT)
NYSE:CAT
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
4.52Last Year’s EPS
4.25Same Quarter Last Year
Moderate Buy
Based on 17 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted multiple strong operational and financial wins — record annual and quarterly revenue, a record $51 billion backlog, robust free cash flow ($9.5B), meaningful power & energy momentum, growing services and autonomy deployments, and sizable returns to shareholders. Offsetting these positives are sizable and growing tariff headwinds (incremental tariffs expected to rise to ~$2.6B in 2026), notable margin compression year‑over‑year (driven largely by tariffs and higher costs), segment margin declines in Construction and Resource Industries, and capacity/timing constraints that temper immediate upside. On balance, the positive operating and cash performance along with strong order/backlog momentum outweigh the near‑term margin and tariff challenges, but execution on capacity expansions and tariff mitigation will be key to sustaining the outlook.Company Guidance
Record Annual and Quarterly Revenue
Full-year sales and revenues of $67.6 billion (highest in company history), up 4% year‑over‑year; fourth‑quarter sales and revenues of $19.1 billion, up 18% year‑over‑year and a single‑quarter record.
Strong Cash Generation and Shareholder Returns
MP&E free cash flow of $9.5 billion for 2025 (third consecutive year > $9B) and $3.7 billion in the quarter; deployed $7.9 billion to shareholders in 2025 including $5.2 billion in share repurchases and $2.7 billion in dividends; indicated larger accelerated share repurchase planned.
Record Backlog and Ordering Momentum
Backlog grew to a record $51 billion, an increase of $21 billion or 71% versus prior year; approximately 62% of backlog expected to deliver in next 12 months, providing strong multiyear visibility (noting some deliveries stretch into 2027+).
Power & Energy Outperformance
Power & Energy sales to users increased 37% in Q4; power generation up 44% in Q4; segment Q4 sales rose 23% to $9.4 billion and segment profit increased 25% to $1.8 billion with margin of 19.6% (+30 bps year‑over‑year); full‑year power generation sales exceeded $10 billion ( >30% YoY).
Services and Digital Progress
Full‑year services revenues totaled $24 billion; installed fleet grew to over 1.6 million assets; progress on condition monitoring, e‑commerce, tech‑enabled machines and digital initiatives to support services growth toward $30 billion by 2030.
Autonomy and Commercial Wins
Autonomous haul truck fleet increased to 827 units from 690 at end of 2024 (~20% increase); continued commercial deployments (e.g., mixed fleet agreement for over 90 trucks with Vale) and announced major data‑center prime power orders (including a ~2 GW order to support Monarch Compute Campus).
Financial Services Strength
Financial Products revenues increased 7% to ~$1.1 billion; segment profit up 58% to $262 million; credit metrics strong with past dues at 1.37% (down 19 bps) and allowance rate at 0.86% (record low); retail new business volume +10%.
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 |
|---|---|---|---|
Jan 29, 2026 | $643.28 | $665.24 | +3.41% |
Oct 29, 2025 | $523.25 | $584.12 | +11.63% |
Aug 06, 2025 | $431.98 | $425.50 | -1.50% |
Apr 30, 2025 | $304.69 | $306.54 | +0.61% |
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 Apr 23, 2026, Before Open (Confirmed).
What is Caterpillar (CAT) earnings time?
Caterpillar (CAT) earnings time is at Apr 23, 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 (Q1) is 4.52.
