Caterpillar stock posts 23.7 percent Q2 revenue growth

Caterpillar stock was quoted at USD 812.02 on the NYSE on September 23, 2026, up 0.50 percent, with market capitalization of USD 374,046,456,740. For Q2 2026, MarketBeat reports adjusted EPS of USD 8.17 against USD 6.22 consensus and revenue of USD 20.54 billion. The earnings gap gives the latest industrial cycle data more weight than the modest daily price move.

Q2 revenue clears consensus

Caterpillar's Q2 revenue increased 23.7 percent year over year and exceeded the USD 19.34 billion consensus by USD 1.20 billion, according to MarketBeat. That comparison points to demand and pricing power contributing to the quarter rather than revenue growth coming only from a low base.

The same Q2 report put adjusted EPS USD 1.95 above consensus. Reported EPS was USD 7.77, while the prior-year figure cited by MarketBeat was USD 4.72.

Analyst target stays higher

The valuation question is visible in the gap between the latest quote and the analyst average. Investing.com lists a 12-month average target of USD 975.61 from 26 analysts, with estimates spanning USD 575 to USD 1,225.

The target range is wide, showing that the central debate is not whether Caterpillar can grow, but how much of the Q2 acceleration can persist. The latest quarterly figures support the revenue case, while the spread between USD 575 and USD 1,225 captures materially different assumptions about the industrial cycle.

Stock range stays wide

Caterpillar's 52-week range was USD 459.58 to USD 1,073.46 as of September 23, 2026. The USD 812.02 quote therefore sits between the year's extremes, while the 0.50 percent daily gain leaves the next move dependent on how investors weigh Q2 execution against the broad valuation range.