Caterpillar earnings awaited as AI buildout eyed
CAT•Caterpillar is due to report third-quarter results before the bell Thursday, with analysts expecting revenue of $20.54 billion and adjusted earnings of $7.08 per share as investors watch for continued AI data-center demand.
1. Quarterly expectations
Analysts expect Caterpillar’s third-quarter revenue to rise 16.5% year over year to $20.54 billion and adjusted earnings per share to reach $7.08, compared with $4.95 a year earlier. The company is scheduled to report before the bell Thursday.
2. AI demand in focus
In the previous quarter, Caterpillar reported a jump in profit, benefiting from the buildout of AI data centers. Last month, it announced a $1 billion investment to expand manufacturing capacity in North Carolina, citing rising demand for compact equipment used in data-center construction.
3. Shares and outlook
Caterpillar shares have risen 25% year to date, versus a 13% gain for the S&P 500 and nearly 9% for the S&P 500 Industrials sector. The stock recently traded at 22 times forward earnings, above its five-year average of 18; analysts’ median price target was $908, down from $967.50 a month earlier.
