Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Costs lagged sales, so profit grew twice as fast
Operating costs rose 18.5% against sales up 24.0%, so the operating margin widened, with expected tariff recoveries adding help.
For investorsWhat has to hold for this margin to last?
For foundersSelling expensive machines without owning the storefront
Firm orders exceed a year of sales, and 40.5% is due after twelve months, so factory throughput shapes revenue more than new orders.
Part of the sales rise went onto dealer lots, and the company expects Construction dealers to draw stock down in the fourth quarter.
Profit rose 64.9%, faster than operating profit's 50.2%, as currency, swap and investment gains grew below the operating line.
Unlock the financial breakdown, competitive insights, historical trends and founder playbook, plus research across the company library.
Free CXProWealth membership required
Business Lens describes Caterpillar from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
