Caterpillar Stock Skyrockets After Blowing Past Earnings Expectations

Caterpillar's stock surged 8.9% in pre-open trading after releasing its second-quarter earnings report, which exceeded analyst expectations on both revenue and adjusted earnings per share.

The company reported adjusted earnings of $8.17 per share, beating the consensus estimate by nearly $2.00, and revenue of $20.54 billion, surpassing estimates of around $19.24 billion by a wide margin.

This marked the first time in Caterpillar's history that it exceeded $20 billion in sales in a single reporting period, representing 24% year-over-year revenue growth.

The Construction Industries segment was a standout, posting 35% revenue growth driven by a surge in orders tied to the nationwide data center buildout and robust demand for backup power equipment.