Caterpillar has exceeded $20 billion in quarterly revenue for the first time, recording the milestone in the second quarter of 2026 across its global customer base. The company posted revenue of $20.5 billion for Q2 2026, representing a 24% year-on-year rise from the $16.6 billion recorded in the same period of 2025.
Caterpillar attributed the increase primarily to a $3.1 billion improvement in sales volume, alongside favourable price realisation worth $595 million. Operating profit margin also strengthened, reaching 20.9% in Q2 2026, compared with 17.6% during the corresponding quarter last year.
Sales increased across all three of Caterpillar’s main segments: power & energy, construction industries and resource industries. Construction industries delivered the strongest growth, with sales rising 35% year on year to more than $8.3 billion. Power & energy sales increased 17% to $8.2 billion, while resource industries grew 20% to $4.6 billion.
Profits followed the same upward trend. Construction industries profit climbed 57% to more than $1.9 billion, while power & energy increased 30% to $2 billion. Resource industries profit rose 23% to $693 million.
North America remained the largest contributor to Caterpillar’s construction industries sales. Revenue from the region rose 50% to almost $5.1 billion. Latin America increased 25% to $676 million, while Europe, Africa and the Middle East (EAME) grew 23% to almost $1.5 billion. Asia/Pacific recorded more modest growth of 3%, reaching $1.1 billion.
Caterpillar said North American growth was driven mainly by increased sales volume and favourable price realisation. The higher volume reflected stronger equipment sales to end users, as well as the effect of changes in dealer inventories.
Caterpillar chairman and CEO Joe Creed said, “This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter. 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.”
