Caterpillar Revenues Off Slightly in Second Quarter
Caterpillar’s sales and revenues for the second quarter of 2025 were $16.569 billion, a 1-percent decrease compared with $16.689 billion in the second quarter of 2024. The decrease was primarily the result of unfavorable price realization of $414 million partially offset by higher sales volume of $237 million. Higher sales volume was mainly driven by higher sales of equipment to end users.
“The Caterpillar team remained focused on customer success and demonstrated solid operational performance this quarter,” said CEO Joe Creed. “We continued to see strong orders across our segments as demand remains resilient supported by infrastructure spending and growing energy needs.”
In Caterpillar’s three primary segments, sales were higher in the Energy & Transportation division and lower in Construction Industries and Resource Industries.
Construction Industries’ total sales were $6.190 billion in the second quarter of 2025, compared to $6.683 billion in the year-ago quarter. In North America, sales decreased because of unfavorable price realization and lower sales volume. Sales decreased in Latin America but increased in EAME and Asia/Pacific.
In Resource Industries, sales declined 8 percent in North America, went up 3 percent in Latin America and 13 percent in Europe Africa & Middle East and declined 10 percent in Asia Pacific.
In Energy & Transportation, oil and gas increased 2 percent; power generation boomed by 28 percent; 1 percent up in industrial and 7 percent down 7 percent.
For the first six months of 2025, total revenue was $30.818 billion compared to $32.488 billion in the first six months of 2024, a 5.1-percent decrease.
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.