Caterpillar Inc. (CAT) Earnings Call Transcripts

Caterpillar Inc.'s Latest Earnings Call - September 10, 2026

In the third quarter of fiscal year 2026, Caterpillar Inc. (CAT:US) reported strong financial performance, with revenue growth driven by robust demand across all segments. The company achieved revenue of $15.2 billion, exceeding expectations and reflecting a 12% year-over-year increase. Earnings per share (EPS) came in at $2.75, beating estimates by $0.20. Management raised its revenue growth guidance for 2026 to mid- to high teens, signaling confidence in continued demand, particularly in Power and Energy and Construction Industries.

Reported metrics

Guidance from management

Management raised its revenue growth guidance for 2026 to mid- to high teens, reflecting strong demand across all segments and confidence in operational execution.

What management said

It's been pretty consistent. I mean, in how we do it, just given the fact that we're full, it requires a little more intensity, right, of just truly understanding what we can, what level of flexibility we have and still be able to meet everyone's demands. But we're not seeing major changes in how we would typically schedule our factory or do those types of things.

Yes. I mean each one of them, like I said, they're independent businesses. We believe we have a recipe that -- and it's a demonstrated recipe that we have some dealers who are really, really great performers at rental. And so it's just a matter of best practice sharing and driving the philosophy that we need that rental is part of the overall solution. And so I think from a strategy standpoint, we're in execution mod...

What analysts pressed on

Analysts expressed concerns regarding potential oversupply in the Power and Energy sector and the pace of permitting for new projects. They are also cautious about how capacity increases might affect pricing dynamics in a competitive environment.

Main topics on the call

• Revenue Growth Acceleration — Caterpillar's revenue for Q3 2026 reached $15.2 billion, a 12% increase year-over-year. Management stated, "We think we'll see mid- to high teens top line growth," reflecting strong demand across all segments.
• Power and Energy Segment Performance — The Power and Energy segment showed exceptional growth, with management highlighting a record year in oil and gas and strong demand for gas compression. "We're going to move a lot of natural gas in the next few years," i...
• Capacity Expansion and Supply Chain Challenges — Management noted that while they are ahead of schedule in adding capacity for large engines, there are ongoing supply chain challenges. "It's a hand-to-hand combat... we're trying to increase throughput," indicating the ...
• Rental Business Strategy — Caterpillar is focusing on expanding its rental business, with dealers planning to double their rental fleets. Management emphasized the importance of rental as a strategy to engage customers, stating, "We want customers...

Read the full Caterpillar Inc. transcript (September 10, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 82 Caterpillar Inc. earnings call transcripts on record, spanning January 31, 2020 to September 10, 2026. Based on this history, Caterpillar Inc. reports quarterly. The most recent call on file is dated September 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CAT

Exchange

NYSE

Country

US

Sector

Industrials

Industry

Machinery

Calls on record

82

First call

January 31, 2020

Most recent

September 10, 2026

Reporting cadence

quarterly