Caterpillar reported first quarter 2026 sales and revenues of $17.4 billion, a 22% increase year-over-year, and GAAP earnings per share of $5.47. The top-line growth was attributed to higher sales volume, particularly from dealer inventory changes, and favorable price realization across all primary segments.
Key Highlights
- Construction Industries segment revenue grew 38% to $7.2 billion, primarily due to a significant increase in dealer inventories compared to the prior year.
- The Power & Energy segment posted a 22% revenue increase to $7.0 billion, citing strength in large reciprocating engines for data centers and demand from oil & gas applications.
- Operating profit margin contracted slightly to 17.7% from 18.1% a year ago, pressured by $710 million in unfavorable manufacturing costs, which included higher tariff costs.
- The company returned $5.7 billion to shareholders during the quarter, consisting of $5.0 billion in share repurchases and $0.7 billion in dividends.