Caterpillar Stock Jumps on Record Cash Flow and Backlog

Caterpillar's stock surged by 5.6% to $876 after reporting record cash flow and backlog in its first quarter earnings.

The company's revenue reached a new high of over $20 billion, with adjusted operating margin at 21.9%, indicating that it is converting orders into profitable volume rather than just booking contracts.

Caterpillar's backlog has grown to $72 billion, with about 59% expected to ship within the next 12 months and customers placing Power & Energy orders up to 2030.