Caterpillar Stock Surges on Record Revenue and Earnings Beat

Caterpillar Inc. (CAT) reported its second-quarter results before the open on Tuesday, exceeding analyst expectations and sending its stock over 10% higher in premarket trading.

The company's adjusted earnings per share of $8.17 beat the consensus estimate of $6.19 by $1.98, while revenue reached $20.5 billion, surpassing the $19.24 billion analyst estimate and marking a 24% increase from $16.6 billion in the same quarter last year.

The strong performance was driven by higher sales volume of $3.1 billion and favorable price realization of $595 million across all three primary segments, with Construction Industries leading the growth at 35%, followed by Power & Energy segment at 17%, and Resource Industries at 20%.