Caterpillar Reports Record Q3 Sales and Projects Mid-to-High Teens Growth Through 2026
Caterpillar (CAT) reported its highest sales quarter ever, reaching $20.7 billion in the third quarter. CEO Joseph Creed highlighted the durability of end markets, noting that strong order rates have resulted in a record backlog for the company. Looking ahead, management provided optimistic long-term guidance, outlining projected mid-to-high teens sales growth through 2026. The company's visibility into future revenue is bolstered by significant long-dated orders, including engine contracts extending into 2029 and turbine orders stretching into 2030.