Caterpillar Reports Record $20.7 Billion Quarterly Sales Driven by AI Data Center Demand
Caterpillar (CAT) reported record quarterly sales of $20.7 billion during its third-quarter 2026 earnings call. The company is experiencing a massive surge in demand for power generation equipment, driven primarily by the electricity requirements of artificial intelligence data centers and cloud computing infrastructure. This trend has pushed Caterpillar's order backlog to a record $78 billion, nearly doubling compared to the previous year. To support this growth, management announced a $1 billion investment to expand manufacturing capacity in Sanford, North Carolina, focusing on compact construction equipment through automation and digital production. Looking ahead, the company expects full-year 2026 revenue to grow in the mid-to-high teens and intends to continue returning substantial free cash flow to shareholders via dividends and share repurchases.
Tickers: $CAT
Topics: AI data center demand earnings report manufacturing investment order backlog record sales
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