Caterpillar Q3 revenue rises 17%, slightly beats estimates

Overview

• Construction equipment maker's Q3 revenue rose 17%, slightly beating analyst expectations

• Adjusted EPS for Q3 was $7.20, beating analyst consensus

• Company says higher sales volume and favorable pricing drove revenue growth

Outlook

• Company did not provide specific financial guidance in its press release

Result Drivers

• SALES VOLUME AND PRICING - Co said higher sales volume and favorable pricing drove Q3 revenue growth

• END USER DEMAND - Co said increased sales of equipment to end users boosted sales volume across segments

• OPERATING PROFIT - Co attributed operating profit growth mainly to higher sales volume

Company press release:

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

• Wall Street's median 12-month price target for Caterpillar Inc is $908.00, about 27.3% above its October 28 closing price of $713.38

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 39 three months ago

Reuters Recommended Reads

• Oct 28 - Sweden's Epiroc Q3 revenue up 10% on mining demand

• Oct 28 - GE Vernova Q3 revenue beats estimates on order growth

• Oct 27 - Illinois Tool Works Inc beats Q3 EPS estimates, raises 2026 outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)