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Caterpillar logs first $20 billion quarter as order backlog reaches record $72 billion

8/16/2026

A record order backlog, the stack of customer orders placed but not yet shipped, reached $72 billion at Caterpillar (CAT) at the end of the second quarter of 2026.

That is up 92% from the same quarter in 2025 and $9 billion above the prior quarter.

Second-quarter revenues came in at $20.5 billion, up 24% year-over-year and the first time the company has cleared $20 billion in a single quarter.

What the quarter actually showed Profit per share came in at $7.77, up from $4.62 a year earlier. Adjusted earnings were $8.17 per share versus $4.72.