Caterpillar Soars After Crushing Q2 Earnings Expectations

Caterpillar Inc., the construction and mining equipment maker, reported strong second-quarter 2026 results, exceeding expectations on revenue and adjusted earnings per share (EPS). The company's sales and revenues reached $20.5 billion, a 24% increase from the same period last year. Adjusted EPS came in at $8.17, beating the estimated $5.71.

The record order backlog of $72.1 billion reflects robust demand for power generation and construction equipment. Chairman and CEO Joe Creed attributed the milestone to the essential work of Caterpillar's customers and the dedication of its employees worldwide. Strong order rates and a growing backlog indicate broadening momentum across all three primary segments.

The company's Power & Energy segment saw sales rise 17% to $8.238 billion, with segment profit increasing 30% to $2.027 billion. The Construction Industries segment reported a 35% increase in sales to $8.346 billion, with segment profit up 57% to $1.947 billion.