Caterpillar stock pops 9% on record quarterly revenue

Caterpillar Inc. stock jumped 10% in premarket trading Tuesday after the heavy equipment maker reported record second-quarter sales and revenues of $20.5 billion, up 24% year over year, and a backlog of $72.1 billion, up 92% from the same time last year. CEO Joe Creed said it was the first time in company history that quarterly sales exceeded $20 billion. The company has benefited from AI-driven demand for power infrastructure for data centers.

What happened: Caterpillar CAT https://finance.yahoo.com/quote/CAT/ stock jumped 10% in premarket trading on Tuesday. What's behind the move: The heavy equipment maker reported second quarter sales and revenues increased 24% to $20.5 billion. "This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter," Caterpillar CEO Joe Creed said. The results were powered by strong order rates and a growing backlog across all three of the company's primary segments. Caterpillar's backlog rose to $72.1 billion, up 92% from the same time last year. What else you need to know: Caterpillar has become a winner of the AI trade by providing the massive power infrastructure required to keep data centers running. Operating profit margin was 20.9% for the second quarter of 2026, compared with 17.3% for the second quarter of 2025. The stock is up 38% year to date, helping buoy the Dow Jones Industrial Average DJ https://finance.yahoo.com/quote/%5EDJI/ I to record highs. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines ferre . Click here for an in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance