Caterpillar Publishes Q3 2026 Earnings Call Transcript

• Caterpillar held its third-quarter 2026 earnings call October 29 with Chairman and CEO Joe Creed, CFO Kyle Epley and investor-relations executives.
• Sales rose 17% to $20.7 billion; adjusted earnings per share increased 45% to $7.20.
• Backlog reached a record $78 billion, up 96% from a year earlier, with growth across all three primary segments.
• Management maintained full-year revenue growth guidance in the mid-to-high teens; adjusted operating margin remains near the target range’s bottom, excluding tariff recoveries.
• Capacity remains the main constraint on Power & Energy growth, with large-engine orders extending into 2029 and turbine orders into 2030.

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