Joe Creed reports Caterpillar's record-breaking second-quarter sales of $20.5 billion
Caterpillar Inc. achieved a historic milestone by generating over $20 billion in sales and revenues for the first time in company history during the second quarter of 2026. Joe Creed, the company's Chairman and CEO, noted that the results were driven by strong order rates and a growing backlog, which rose to $72.1 billion. The company's performance was bolstered by a nationwide buildout of AI data centers, which increased demand for power-generation and construction equipment. Caterpillar's core construction segment saw a 35% revenue growth, particularly in North America, while the power and energy arm posted 17% growth. The stock surged as much as 12% in morning trading, helping push the Dow Jones Industrial Average to record highs. Caterpillar also raised its annual revenue growth forecast and lowered its full-year tariff costs forecast to approximately $2.2 billion. The company reported an adjusted profit per share of $8.17, significantly exceeding analyst expectations.