Caterpillar Q2 Sales Top $20 Billion on AI Data Center Demand; Raises Full-Year Growth to Mid-High Double

Caterpillar reported second-quarter 2026 results, with quarterly sales surpassing the $20 billion mark for the first time. Revenue from the machinery, energy and power segment reached $19.58 billion, up 25% year over year, while operating profit rose 51% to $4.21 billion, well above the $3.5 billion estimate. Financial products operating profit increased 24% to $263 million, on revenue of $962 million, up 7.5%. Research and development spending increased 12% to $616 million. Chief Executive Officer Joe Creed said in a statement that this was the first time in company history that quarterly sales exceeded $20 billion, reflecting strong customer demand and the efforts of employees worldwide.

Second-quarter orders were $9.4 billion, and backlog reached a record $72.1 billion. Core construction revenue increased 35% year over year, with North American markets up 50%; energy and power revenue rose 17%. Together, these two businesses accounted for 81% of total revenue.