Caterpillar reported its first single quarter with over $20 billion in sales and revenues.
Consolidated revenue among all Caterpillar’s business segments globally was up 24% to $20.5 billion in the second quarter.
The world's largest construction equipment manufacturer also logged $392 million in tariff refunds.
For the second quarter of 2026, Cat’s construction industries revenue rose 35% to $8.4 billion, driven primarily by a $1.8 billion jump in sales volumes compared to the second quarter of 2025. Caterpillar also saw a $309 million benefit from growing price realization (the net difference between a machine’s listed price and the actual selling price).
In Caterpillar’s power and energy segment, which covers its engine business, revenue was up 17% year-over-year to $8.2 billion, driven by a $736 million sales volume increase.
In the second quarter, Caterpillar sold 9,488 new financed machines in the U.S., according to Fusable’s EDA equipment finance data. Popular models included the 255 and 265 compact track loaders and the 305 CR mini excavator. (EDA is owned by Fusable, parent company of Equipment World.)
Looking at North America, construction industries revenue was up 50% to $5.1 billion — the largest percentage increase in this segment among all Caterpillar’s regions. Power and energy revenue in North America rose 30% year-over-year to $4.2 billion, and consolidated North American revenue saw a 37% increase to $12.1 billion.
Powered byConsolidated operating profit in the second quarter rose 50% to $4.3 billion, driven by higher sales volumes and $392 million in IEEPA tariff refunds.
Caterpillar’s construction business saw a 57% increase in second-quarter operating profit to $1.95 billion, while the power and industry segment’s operating profit came in at $2 billion, up 30%.
Caterpillar estimates its full-year 2026 sales and revenues will see percentage growth in the mid- to high teens year-over-year, and it expects about $2.2 billion in additional tariff costs, minus the refunds.
During the earnings call, Caterpillar CFO Kyle Epley said the company expects about $600 million in third-quarter tariffs, with roughly 50% of that being incurred through its Construction Industries segment.
