Caterpillar Stock Pulls Back as $72 Billion Order Backlog Offers Support for 2026 Outlook

Caterpillar Inc.'s stock price has pulled back from its recent peak of around $822, settling at $800.11 as of August 28, 2026.

The company's order backlog stands at a substantial $72 billion, up $9 billion sequentially and 92 percent higher year over year, providing strong visibility into future demand.

Management has increased full-year revenue growth guidance for 2026 from low double digits to the mid-to-high teens, reflecting confidence in orders converting to realized revenue through the remainder of the year.

The backlog extends beyond 2026, with commitments from power and energy customers stretching out to 2030, supporting multi-year revenue streams.