Caterpillar Cashes In on Tariff Refunds Worth $392 Million
Caterpillar has received $392 million in tariff refunds following a Supreme Court ruling this year that invalidated country-specific tariffs installed by the Trump administration in 2025.
The company's second-quarter earnings call revealed that levy costs were more than 40% below its prior estimate, with Chairman and CEO Joseph Creed stating, 'While the situation around tariffs remains fluid, we continue to execute our mitigation plans.'
Caterpillar's tariff costs for the quarter ended June 30 were approximately $400 million, excluding invalidated duties. This is significantly lower than the company's April estimate of $700 million.
The heavy-equipment maker expects full-year 2026 tariff costs to be around $2.2 billion, which falls within its previously provided range.