Loading
Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mike Feniger | Bank of America | 7 (14%) |
| David Raso | Evercore ISI | 7 (43%) |
| Jamie Cook | Truist Securities | 7 (0%) |
| Tami Zakaria | JPMorgan | 7 (14%) |
| Rob Wertheimer | Melius Research | 7 (0%) |
| Kristen Owen | Oppenheimer | 6 (0%) |
| Kyle Menges | Citigroup | 6 (0%) |
| Mig Dobre | Robert W. Baird | 6 (0%) |
| Jerry Revich | Wells Fargo | 5 (0%) |
| Angel Castillo | Morgan Stanley | 5 (20%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 7 (14%) |
| Evercore ISI | 1 | 7 (43%) |
| JPMorgan | 1 | 7 (14%) |
| Melius Research | 1 |
| 7 (0%) |
| Truist Securities | 1 | 7 (0%) |
| Oppenheimer | 1 | 6 (0%) |
| Citigroup | 1 | 6 (0%) |
| Robert W. Baird | 1 | 6 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $16.21B | -5.0% | $5.78 | +9.5% | 34.3% | 18.0% | 17.2% | $2.36B |
| FY2025 Q1 | $14.25B | -9.8% | $4.20 | -27.0% | 34.8% | 18.1% | 14.1% | $371M |
| FY2025 Q2 | $16.57B | -0.7% | $4.62 | -15.7% | 33.0% | 17.6% | 13.2% | $2.17B |
| FY2025 Q3 | $17.64B | +9.5% | $4.89 | -3.4% | 33.8% | 17.3% | 13.0% | $4.59B |
| FY2025 Q4 | $19.13B | +18.0% | $5.12 | -11.4% | 28.6% | 13.9% | 12.5% | $3.15B |
| FY2026 Q1 | $17.41B | +22.2% | $5.47 | +30.2% | 35.1% | 17.7% | 14.6% | $1.55B |
| FY2026 Q2 | $20.54B | +24.0% | $7.77 | +68.2% | 37.8% | 20.9% | 17.5% | $3.15B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Caterpillar delivered Q1 sales of $17.4 billion up 22% with adjusted EPS of $5.54, well above expectations. Backlog grew to a record $63 billion, up 79% year-over-year, with all-time record orders driven by Power Generation data center demand. The full-year outlook was raised to low double-digit sales growth from the prior approximately 7% guide. Large engine capacity expansion to nearly 3x was underway to meet surging demand.
Demand | Pricing | Margin | Capex Investment | Trade Tariffs | Competitive Dynamics | Revenue Growth | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 4 | 3 | 2 | 1 | 2 | 1 | |
| 2025Q1 | 5 | 4 | 1 | 2 | 4 | 1 | 2 | |
| 2025Q2 | 5 | 4 | 4 | 2 | 3 | 2 | 1 | |
| 2025Q3 | 5 | 2 | 2 | 2 | 2 | 3 | 3 | 1 |
| 2025Q4 | 8 | 1 | 2 | 1 | 2 | 1 | ||
| 2026Q1 | 3 | 1 | 3 | 3 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 6 | 5 | 5 | 5 | 8 | 3 |
| Pricing | 4 | 4 | 4 | 2 | 1 | 1 |
| Margin | 3 | 1 | 4 | 2 | 3 | |
| Capex Investment | 2 | 2 | 2 | 2 | 2 | 3 |
| Trade Tariffs | 1 | 4 | 3 | 2 | 1 | |
| Competitive Dynamics | 1 | 2 | 3 | 2 | 2 | |
| Revenue Growth | 2 | 3 | 1 | 1 | ||
| Guidance Reliability | 1 | 2 | 1 | 1 |
What CAT and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“NVIDIA's powered robots and autonomous machines for leading companies, including Boston Dynamics Caterpillar, FranKaufman Hall Robotics, LG Electronics and NEURA Robotics.”
Caterpillar named among leading companies building robots and autonomous machines on NVIDIA's robotics platform.
“Remember the partnership we have with [ Caterpillar ], with Oklo.”
Vertiv cited its partnership with Caterpillar as part of its 'bring your own power' data center strategy, indicating Caterpillar power gensets are integrated into Vertiv's behind-the-meter offering.
“And finally, Resource Industries completed the acquisition of RPMGlobal in February, bringing a leader in mining software technology into our portfolio.”
Caterpillar completed its acquisition of mining-software leader RPMGlobal in February, adding technology to its Resource Industries portfolio.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CAT Caterpillar Inc. | 9 | +22.2% | |
| DE Deere & Company | 9 | +16.3% | |
| PCAR Paccar | 1 | -16.2% |