Caterpillar Reports Record $20.54 Billion Quarterly Revenue

Caterpillar Inc. reported record second-quarter results for the period ending June 30, 2026, with revenue reaching an all-time high of $20.54 billion, a 24% increase year-over-year. The company reported an adjusted per-share profit of $8.17, significantly exceeding the analyst expectation of $6.20. This growth was driven by a 35% increase in construction segment revenue and 17% growth in power and energy.

Management attributed the surge to the nationwide buildout of AI data centers, industrial reindustrialization, and increased infrastructure and energy spending by the Donald Trump administration. Following $9.4 billion in new bookings during the quarter, the company recorded a record order backlog of $72.1 billion. Caterpillar shares jumped up to 10% in pre-market trading following the announcement, reversing a period of volatility linked to investor concerns over data-center spending.

Looking forward, the company raised its 2026 annual revenue growth forecast to the mid-to-high-teens percentage range, up from a previous projection of low-double-digit growth. Caterpillar also narrowed its full-year tariff costs forecast to approximately $2.2 billion, down from a previous range of $2.2 billion to $2.6 billion.