Caterpillar Raises Sales Outlook Amid Broad-Based Growth

Caterpillar Inc., a leading heavy equipment manufacturer, reported strong second-quarter earnings, driven by broad-based growth across its three primary segments. The company's chairman and CEO, Joe Creed, highlighted that demand remains ahead of production in key power markets, while construction and resource businesses are gaining momentum.

The company's backlog reached $72 billion, up 92% year-over-year, with 59% scheduled for delivery within the next 12 months. Caterpillar is also expanding its rental strategy, with the launch of Major Projects, a dealer-owned rental venture for large transportation, energy, manufacturing, and data center developments.

Caterpillar raised its 2026 sales outlook to mid- to high teens growth, above its April view, citing strong orders, healthy end markets, and higher second-half throughput. The company's CFO, Kyle Epley, expects another quarter of strong year-over-year sales growth in the third quarter, with higher volume and favorable price realization across all three primary segments.