Caterpillar Reports Record Backlog and Strong Q1 Earnings, Driving Stock Higher
Caterpillar (CAT) stock rose 5% in premarket trading following its first-quarter earnings report, driven by a record backlog and strong demand for data center equipment. The company's Power & Energy segment saw a 22% annualized sales increase, fueled by AI infrastructure growth. Caterpillar now projects full-year revenue growth in the low double digits, up from a previous 7% forecast.
Tickers: $CAT
Topics: AI Infrastructure Backlog Earnings Revenue Growth Stock Price Movement Tariffs