Caterpillar Stock Soars to Near-Record Territory on Strong Q2 Results

Caterpillar Inc.'s stock continues to soar, reaching near-record territory as of August 12, 2026. The equipment maker's Q2 results exceeded expectations, with sales of $20.543 billion and profit per share of $8.17.

The second-quarter revenue marks a 24% increase from the same period in 2025, while adjusted profit per share rose by 73%. The company's operating profitability improved significantly, with an operating profit margin of 21.9%, up from 17.6% in Q2 2025.

Caterpillar's construction equipment segment saw a 35% increase in sales to $8.346 billion and a 57% jump in profit to approximately $1.9 billion, with margins expanding by about 320 basis points to 23.3%. The power and energy segment reported a 17% rise in sales to $8.238 billion and a 30% increase in profit to around $2.0 billion.

The company's order backlog reached a record high of $72 billion at the end of Q2 2026, up 92% year over year. This multi-quarter visibility across construction, resource, and energy projects has given Caterpillar a strong foundation for future growth.