{"slug": "caterpillar-lifts-2026-sales-growth-target-after-quarterly-profit-beat", "title": "Caterpillar lifts 2026 sales growth target after quarterly profit beat", "summary": "Caterpillar Inc. raised its 2026 sales growth target after beating second-quarter profit estimates, citing a buildout of AI data centers that has spurred demand for its power-generation and construction equipment. The company reported adjusted per-share profit of $8.17, up from $4.72 a year earlier, and above analysts' expectation of $6.20, while overall revenue grew 24% to an all-time high of $20.54 billion in the quarter ending June 30. Caterpillar also cut its full-year tariff costs forecast to around $2.2 billion from the previously expected $2.2 billion to $2.6 billion.", "body_md": "Aug 4 (Reuters) - Caterpillar raised its annual revenue growth forecast after beating second-quarter profit estimates on Tuesday, benefiting from a buildout of AI data centers that has spurred demand for its power-generation and construction equipment.\n\nShares of the company jumped 10% in premarket trading, sending Dow futures up 0.6%, after it cut its full-year tariff costs forecast to around $2.2 billion from the previously expected $2.2 billion to $2.6 billion.\n\nOver the last few quarters, the equipment giant has seen a surge in orders for construction equipment amid a nationwide buildout of data centers as well as the backup power equipment needed for such buildings.\n\nCaterpillar's results are often seen as a bellwether for the industrial economy. Its quarterly earnings beat and raised outlook likely signal that the AI-led demand boom for ancillary equipment is sustainable.\n\nIn the April-to-June quarter, Caterpillar said it booked orders worth $9.4 billion, taking its order backlog to a record $72.1 billion.\n\nIts overall revenue grew 24% to an all-time high of $20.54 billion in the quarter ending June 30.\n\nCore construction segment revenue grew 35% in that period on strong retail sales, particularly in top market North America, where it recorded a 50% jump.\n\nThe power and energy arm, meanwhile, posted 17% growth in revenue. The two segments accounted for a combined 81% of Caterpillar's total revenue.\n\nThe company builds power generators and backup power equipment under its power & energy segment, while its construction industries segment manufactures excavators and bulldozers.\n\nCaterpillar also said it recorded an expected tariff recovery of $392 million in the second quarter.\n\nIt reported adjusted per-share profit of $8.17, compared with $4.72 per share a year earlier, well above analysts' expectation of $6.20 per share, according to data compiled by LSEG.\n\n(Reporting by Nandan Mandayam in Bengaluru; Editing by Pooja Desai)", "url": "https://wpnews.pro/news/caterpillar-lifts-2026-sales-growth-target-after-quarterly-profit-beat", "canonical_source": "https://ca.finance.yahoo.com/news/caterpillar-lifts-2026-sales-growth-115130672.html", "published_at": "2026-08-04 11:51:30+00:00", "updated_at": "2026-08-04 12:25:20.524234+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure"], "entities": ["Caterpillar Inc.", "LSEG"], "alternates": {"html": "https://wpnews.pro/news/caterpillar-lifts-2026-sales-growth-target-after-quarterly-profit-beat", "markdown": "https://wpnews.pro/news/caterpillar-lifts-2026-sales-growth-target-after-quarterly-profit-beat.md", "text": "https://wpnews.pro/news/caterpillar-lifts-2026-sales-growth-target-after-quarterly-profit-beat.txt", "jsonld": "https://wpnews.pro/news/caterpillar-lifts-2026-sales-growth-target-after-quarterly-profit-beat.jsonld"}}