Caterpillar (CAT) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Caterpillar published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Caterpillar reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted profit per share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Caterpillar's segment sales include sales to other Caterpillar segments, mostly Power & Energy engines. The two Corporate Items and Eliminations rows remove them and other corporate items, which brings the segments to the $20,682 million consolidated total.
• Caterpillar moved its Rail division from Power & Energy into Resource Industries, where Rail is now reported alongside Mining, Heavy Construction and Quarry & Aggregates.
• Operating profit in Q3 2026 included $128 million of recoveries of tariffs imposed under the International Emergency Economic Powers Act, after the U.S. Supreme Court ruled those tariffs unauthorized on February 20, 2026.

Source: Caterpillar Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Caterpillar splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Caterpillar's Power & Energy revenue was $8.8 billion in Q3 2026, up 18% from $7.5 billion in Q3 2025, 42% of total revenue.
• Caterpillar's Construction Industries revenue was $8.0 billion in Q3 2026, up 18% from $6.8 billion in Q3 2025, 39% of total revenue.
• Caterpillar's Resource Industries revenue was $4.6 billion in Q3 2026, up 15% from $4.0 billion in Q3 2025, 22% of total revenue.
• Caterpillar's All Other Segment revenue was $72.0 million in Q3 2026, down 1% from $73.0 million in Q3 2025, under 1% of total revenue.
• Caterpillar's Financial Products Segment revenue was $1.2 billion in Q3 2026, up 9% from $1.1 billion in Q3 2025, 6% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP sales and revenues and diluted profit per share, each as first reported in that quarter's release.

Caterpillar's next report is scheduled for January 28, 2027. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Caterpillar's Q3 2026 sales and revenues were $20,682 million, up 17% from $17,638 million, which Caterpillar attributed primarily to higher sales volume of $2.2 billion and favorable price realization of $663 million. Power & Energy was the largest segment at $8,784 million, followed by Construction Industries at $7,983 million and Resource Industries at $4,615 million. Financial Products revenues were $1,028 million. (Caterpillar Q3 2026 release, Oct 29, 2026)

Power Generation is Caterpillar's fastest-growing application. Power & Energy's Power Generation sales rose to $3,421 million from $2,634 million, mainly in turbines, turbine-related services and large reciprocating engines, primarily in data center applications. Oil and Gas sales were $2,236 million and Industrial $1,631 million. Caterpillar's 10-Q links the Power Generation growth to energy demand from the data center build-out for cloud computing and generative AI. (Caterpillar Q3 2026 release, Oct 29, 2026; Caterpillar Form 10-Q, Q3 2026, Nov 4, 2026)

Caterpillar sells most of its machines and engines to independent dealers and OEMs, so dealer stocking moves reported sales. Total dealer inventory increased $800 million in Q3 2026 and $3.5 billion over the first nine months, against $900 million in the same period of 2025. Retail sales to end users reported by dealers rose 22% in the three months, including a 75% increase in Power Generation. (Caterpillar Form 10-Q, Q3 2026, Nov 4, 2026; Caterpillar retail sales statistics, Q3 2026 (Exhibit 99.2), Oct 29, 2026)

By region, North America brought in $12,017 million of Caterpillar's Q3 2026 sales and revenues, up 24%, while Asia/Pacific fell 2% to $2,813 million. In Resource Industries, Mining, Heavy Construction and Quarry & Aggregates sales rose 22% to $3,697 million and Rail fell 5% to $832 million on lower international locomotive deliveries. (Caterpillar Q3 2026 release, Oct 29, 2026)

Caterpillar reported profit per share of $7.13 and adjusted profit per share of $7.20 in Q3 2026. The only adjustment was restructuring costs of $41 million before tax, or $0.07 per share, the same $0.07 as a year earlier. Profit was $3,287 million and the operating profit margin was 20.4%, against 17.3%. (Caterpillar Q3 2026 release, Oct 29, 2026)

The year-ago tax rate held back Q3 2025 results. Caterpillar's effective tax rate was 22.9% in Q3 2026 against 26.7%; Q3 2025 included a $54 million charge for a higher estimated annual tax rate and a $41 million discrete charge for prior-year estimates. Operating profit in Q3 2026 also included $128 million of IEEPA tariff recoveries. (Caterpillar Q3 2026 release, Oct 29, 2026)

Buybacks reduced Caterpillar's diluted share count to 460.9 million from 470.8 million a year earlier. In the quarter Caterpillar deployed $1.2 billion of cash for share repurchases and $0.7 billion for dividends, and it ended the quarter with $7.9 billion of enterprise cash. (Caterpillar Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Caterpillar's earnings release does not include a numeric outlook. Its Q3 2026 10-Q says Caterpillar continues to expect 2026 sales and revenues growth in the mid-to-high teens compared with 2025, restructuring costs of about $300 million, capital expenditures of about $3.3 billion and an estimated annual effective tax rate of 23.0 percent, excluding discrete items. (Caterpillar Form 10-Q, Q3 2026, Nov 4, 2026)

Caterpillar expects full-year 2026 tariff costs of around $2.2 billion, excluding IEEPA recoveries of about $520 million, and around $600 million of tariff costs in the fourth quarter. Its outlook does not include any additional IEEPA tariff recoveries in the fourth quarter. The 10-Q also discloses $49.4 billion of unsatisfied performance obligations on contracts longer than one year, with about one-third expected to be recognized as revenue in the next twelve months. (Caterpillar Form 10-Q, Q3 2026, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Caterpillar, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Caterpillar's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CAT is on is CAT a buy or a sell?, what analysts expect next is on the CAT forecast, and what the company does is on the Caterpillar (CAT) stock page.

Every number on this page can be traced to a document Caterpillar published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.