Caterpillar Crushes Records with $20.5 Billion Quarter Amid Data Center Boom

Caterpillar has reported record sales and revenues of $20.5 billion for its second quarter, up 24% year over year.

The growth is attributed to strong demand in its power and energy business, which saw a 72% increase in sales of generator sets and turbines used by data centers.

The company's construction industries business also delivered units to Major Projects, a Cat-dealer-owned rental joint venture that supports customers with multibillion-dollar projects across North America, including data center builds.

Caterpillar's order backlog has leapt 92% year over year to reach $72 billion.

The company expects strong growth in the third quarter and mid- to high-teens growth in full-year 2026, citing its record backlog as support for this outlook.