Cat’s revenue surpasses $20bn in a single quarter for the first time

The company reported a 24% year-on-year increase in revenue in its latest quarter, hitting $20.5 billion compared to $16.6 billion in Q2 2025.

The company said the performance was due primarily to higher sales volume of $3.1 billion and favourable price realisation of $595 million.

Operating profit margin was 20.9% for the second quarter of 2026, compared with 17.6% for the second quarter of 2025.

Caterpillar also saw sales jump across all three of its primary segments (power & energy, construction industries, and resource industries).

Construction industries saw the biggest increase in sales, with a 35% year-on-year increase to just over $8.3 billion. Power & energy was up 17% to $8.2 billion, and resource industries increased 20% to $4.6 billion.

Profit in construction industries rose by 57% to just over $1.9 billion, power & energy was up 30% to $2 billion, and resource industries increased 23% to $693 million.

North America continued to dominate Cat’s sales in its construction industries division. North American sales in that segment increased 50% to nearly $5.1 billion. Latin America was up 25% to $676 million, Europe, Africa and the Middle East (EAME) was up 23% to nearly $1.5 billion, and Asia/Pacific was up just 3% to $1.1 billion.

Cat said that in North America, sales increased mainly due to higher sales volume and favourable price realisation. It attributed the higher sales volume to higher sales of equipment to end users and by the impact from changes to dealer inventories.

Caterpillar chairman and CEO Joe Creed said, “This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter. This milestone underscores both the essential work our customers do every day and the dedication of Caterpillar employees worldwide to solving our customers’ toughest challenges. Strong order rates and a growing backlog reflect broadening momentum across all three of our primary segments.”