Caterpillar publishes Q3 2026 earnings call transcript
CAT•Caterpillar reported third-quarter sales of $20.7 billion, up 17%, and adjusted earnings per share of $7.20, up 45%. Its record $78 billion backlog was up 96% year over year, and the company maintained its full-year revenue growth guidance in the mid-to-high teens.
1. Quarterly results
Caterpillar held its third-quarter 2026 earnings call on October 29 with Chairman and CEO Joe Creed, CFO Kyle Epley and investor-relations executives. Sales rose 17% to $20.7 billion, while adjusted earnings per share increased 45% to $7.20.
2. Backlog and outlook
Backlog reached a record $78 billion, up 96% from a year earlier, with growth across all three primary segments. Management maintained full-year revenue growth guidance in the mid-to-high teens; adjusted operating margin remained near the bottom of its target range, excluding tariff recoveries.
3. Capacity constraints
Management said capacity remains the main constraint on Power & Energy growth. Large-engine orders extend into 2029 and turbine orders into 2030.
