Caterpillar Inc. · CAT · Next earnings

Caterpillar Inc. reports Wednesday, Nov 4, 2026

CAT reports before market open with consensus EPS at $6.95 and revenue at $20.49B. Last quarter: Caterpillar Q1: Record $63B Backlog and Raised Guidance on Data-Center Power Surge

Reports Before market open45 days awayDate estimated Industrials

What the street expects

Consensus for the coming report
Consensus EPS $6.95 Calendar consensus
Consensus revenue $20.49B Calendar consensus
Report date Nov 4, 2026 Wednesday, date estimated
Session Before market open 45 days away

Where CAT left off: FY2026 Q1

Full report

Caterpillar Q1: Record $63B Backlog and Raised Guidance on Data-Center Power Surge

EPS surprise +19.1% Reported $5.54 vs $4.65
Revenue surprise +5.4% Reported $17.41B vs $16.53B
Stock move +9.9% Event window
Subsequent drift -1.6% Up to 20 sessions

Management raised its full-year 2026 sales growth outlook from 5-7% (set at Q4 2025) to low double-digit growth, with higher adjusted operating margin expectations. Capex outlook remains increasing, with MP&E capex targeted at 4-5% of sales through 2030. Guidance sentiment moved from maintained to raised.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Uncertain tariff environment with potential cost increases despite mitigation efforts.
  • Geopolitical tensions and elevated energy prices affecting demand patterns.
  • Timing delays in deliveries for EAME, Asia/Pacific, and Resource Industries segments.
  • Higher manufacturing, SG&A, and R&D expenses pressuring margins during capacity expansion.
  • Supply-chain constraints limiting the pace of capacity buildout.

Questions analysts left open

  • Allocation of new engine capacity between prime and backup power applications.
  • Details on behind-the-meter architecture and gigawatt-scale bookings.
  • Margin outlook given tariff headwinds and higher depreciation from capacity expansion.
  • Pricing trends for the Power and Energy segment.
  • Progress toward the 50-GW large-engine target by 2030.

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Recent CAT quarters

All CAT earnings
+9.9%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.