Caterpillar Inc. (CAT) Earnings Call Transcripts
Caterpillar Inc.'s Latest Earnings Call - Q3 FY2026
Caterpillar Inc. reported strong third quarter results for 2026, with revenues of $20.7 billion, up 17% year-over-year, and adjusted earnings per share of $7.20, reflecting a 45% increase. The company maintained its full-year guidance for sales and revenues to grow in the mid- to high teens, supported by robust order rates and a record backlog of $78 million, which is a 96% increase from the prior year. Management emphasized the durability of end markets and strong demand across all segments, indicating a positive outlook despite ongoing geopolitical uncertainties.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $20.7 billion |
| Adjusted EPS | $7.20 (positive) |
| Backlog | $78 million (positive) |
| Operating Margin | 20.6% |
| MP&E Free Cash Flow | $3.8 billion (positive) |
| CapEx | $3.3 billion (null) |
Guidance from management
Caterpillar expects full-year 2026 sales and revenues to grow in the mid- to high teens and maintains its adjusted operating profit margin expectation near the bottom of the target range, reflecting ongoing strategic investments and the impact of tariffs.
What management said
And David, I -- this is Kyle. Just to remind you, and I said in my prepared remarks, when we talk about the growth, it's off a really tough comparison versus 4Q last year. Just from a consolidated level, and then especially from a power and energy standpoint. But going into 2027, the dealer inventory increase in CI, we still expect really strong sees across all 3 primary segments in 4Q going into 2027.
Thank you, Joe, Kyle, Stephanie and everyone who joined us today. A replay of our call will be available online later this morning. also post a transcript on our Investor Relations website as soon as it's available. You also find a third quarter results video with our CFO and an SEC filing with our sales to users data. Visit investors.caterpillar.com and then click on Financials to view those materials. If you have ...
What analysts pressed on
Analysts expressed concerns regarding the sequential revenue growth and potential capacity constraints impacting future performance. There were questions about the company's ability to maintain growth momentum amid operational challenges and the effects of dealer inventory destocking.
Main topics on the call
- Record Backlog Growth — Caterpillar's backlog reached a record $78 million, up approximately $38 million or 96% year-over-year, driven by strong order rates across all segments. CEO Joe Creed stated, "I'm happy that the backlog grew in all 3 se...
- Strong Revenue and Profit Growth — The company reported revenues of $20.7 billion, which was in line with expectations, and an adjusted operating profit margin of 20.6%. Creed noted, "Sales and revenues were $20.7 billion, up 17% versus the prior year, dr...
- Segment Performance — Power and Energy sales increased by 18% to $8.8 billion, while Construction Industries also saw an 18% rise to $8 billion. Creed mentioned, "Both residential and nonresidential industries contributed to the growth," indi...
- Future Guidance Maintained — Caterpillar maintained its full-year 2026 sales and revenues growth outlook in the mid- to high teens, with Creed stating, "Our strong execution through the first 9 months positions us well to meet our full year outlook....
Read the full Caterpillar Inc. transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Caterpillar Inc.
Caterpillar Inc. (CAT) is a publicly listed company in the Machinery industry, within the Industrials sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 83 calls on record spanning January 31, 2020 to October 29, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 83 Caterpillar Inc. earnings call transcripts on record, spanning January 31, 2020 to October 29, 2026. Based on this history, Caterpillar Inc. reports quarterly. The most recent call on file is dated October 29, 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
- 83
- First call
- January 31, 2020
- Most recent
- October 29, 2026
- Reporting cadence
- quarterly