Caterpillar stock under pressure as Q3 backlog reaches record USD 78.1 billion
Published on 10/29/2026 at 17:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSStrong quarter, cautious outlook
- Caterpillar reported higher third-quarter sales, margins and adjusted profit per share.
- Strong orders lifted the backlog, while fourth-quarter sales growth is expected to moderate.
- Tariffs, freight costs and capacity investments remain important margin factors.
Caterpillar reported its third-quarter 2026 results on October 29, 2026. The company's release said sales and revenues rose 17% year over year to USD 20.7 billion, while adjusted profit per share reached USD 7.20, compared with USD 4.95 a year earlier.
At 16:38:42 Berlin time, the Lang & Schwarz snapshot showed the Caterpillar share at EUR 587.50. The displayed prior close was EUR 638.90. This is a current German-market indication and is reported separately from any Xetra closing comparison.
What has changed since the last report
The latest relevant own report, published October 27, focused on the scheduled results date and the prior quarter's performance. The new release now provides the third-quarter outcome: Caterpillar said adjusted operating profit margin was 20.6%, up from 17.5% in the year-earlier quarter.
The company also said the backlog reached a record USD 78.1 billion, an increase of USD 6 billion from the previous quarter, according to Reuters. Power and Energy demand remains linked to data-center construction, while large reciprocating-engine orders extend into 2029 and turbine orders into 2030, according to management's earnings-call remarks.
Outlook remains a key test
Caterpillar maintained its expectation for full-year 2026 sales and revenues to grow in the mid- to high-teens range. Management expects moderate sales growth in the fourth quarter and said adjusted operating margin, excluding IEEPA tariff recoveries, should be near the bottom of its target range.
The company reported USD 128 million of IEEPA tariff recoveries in the quarter. It continues to expect around USD 2.2 billion of full-year tariff costs, while higher freight expenses and capacity investments are expected to weigh on margins.
Investors can follow the real-time quote of Caterpillar stock for further German-market indications.
Caterpillar Inc. stock facts
- Company: Caterpillar Inc.
- ISIN: US1491231015
- Ticker: CAT
- Primary exchange: NYSE
- Lang & Schwarz quote: EUR 587.50 on October 29, 2026 at 16:38:42 Berlin time
- Displayed prior close: EUR 638.90
- Third-quarter sales and revenues: USD 20.7 billion
- Adjusted profit per share: USD 7.20
- Adjusted operating profit margin: 20.6%
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