Caterpillar Inc

CAT: XNYS (USA)

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Caterpillar Earnings: Record Revenue and Backlog Led by Data Center Demand

George Maglares

Jan 29, 2026

Caterpillar posted record revenue of $64 billion (4% growth) in its machinery, power & energy (MPE) segments and operating margin of 17.0%. While within its targeted range, margins were at the lower end due almost entirely to tariffs. Backlog of $51 billion points to strong growth ahead.

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Caterpillar Inc

Caterpillar Earnings: Record Revenue and Backlog Led by Data Center Demand

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