Caterpillar Tops $20 Billion in Second Quarter 2026 Revenue
Caterpillar posted second quarter sales and revenue pf $20.543 billion compared to $16.569 billion in the second quarter of 2025, a 24-percent year-over-year increase.
Operating profit margin was 20.9 percent for the second quarter of 2026, compared with 17.3 percent for the second quarter of 2025. Adjusted operating profit margin was 21.9 percent for the second quarter of 2026, compared with 17.6 percent for the second quarter of 2025.
“This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter,” said Caterpillar chairman and CEO Joe Creed. “This milestone underscores both the essential work our customers do every day and the dedication of Caterpillar employees worldwide to solving our customers’ toughest challenges. Strong order rates and a growing backlog reflect broadening momentum across all three of our primary segments.”
The second quarter increase was primarily the result of higher sales volume of $3.1 billion, and favorable price realization of $595 million. Higher sales volume was mainly driven by higher sales of equipment to end users.
The Power & Energy segment posted total sales of $8.238 billion in the second quarter of 2026, compared to $7.017 billion in Q225, a 17-percent leap. Power Generation sales increased in large reciprocating engines and in turbines and turbine-related services, primarily in data center applications. Oil and Gas sales increased in reciprocating engines used in gas compression applications and in reciprocating engine aftermarket parts, partially offset by lower sales of reciprocating engines used in well servicing applications. Sales also increased in turbines and turbine-related services. Industrial sales increased primarily in North America and EAME.
The Construction Industries’ total sales were $8.346 billion compared with $6.190 billion in the second quarter of 2025, a 34.8-percent jump. Resource Industries jumped from $3.886 billion in Q225 to $4.648 billion in the just-concluded frame, a 19.6-percent increase.
The Financial Products segment also had a good quarter, increasing 10 percent year over year.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.