Caterpillar Shatters Revenue Records, Stock Jumps 10.7%

Caterpillar (NYSE:CAT) reported impressive results for its second quarter of CY2026, exceeding analysts' expectations and sending its stock price soaring by 10.7% to $919.01.

The company's revenue reached a record-breaking $20.54 billion in Q2, marking a 24% increase year-over-year and beating Wall Street estimates by 8.4%. Adjusted earnings per share (EPS) came in at $8.17, a 31.8% beat over consensus estimates.

Caterpillar's operating margin expanded to 20.9%, up from 17.3% in the same quarter last year, driven primarily by cost leverage. The company also saw its free cash flow margin decrease to 0% from 14.9% in Q2 CY2025.

According to Caterpillar Chairman and CEO Joe Creed, this is the first time the company has generated over $20 billion in sales and revenues in a single quarter.