Caterpillar Inc. (CAT) Q4 2025 Earnings Call Transcript
Caterpillar's earnings are hard evidence that geo-capex is real: volumes drove growth, backlog hit a record $51B (+71% YoY), and power & energy demand tied to data centers keeps accelerating. Services now exceed $24B, cash flows remain strong despite tariff headwinds, and Power & Energy profits surged +55% YoY, confirming Caterpillar's positioning at the center of the AI-infrastructure cycle. The problem is no longer the business, but the price.
Caterpillar Inc (NYSE:CAT, XETRA:CAT) posted fourth quarter financial results that exceeded Wall Street expectations on both earnings and revenue, supported by higher equipment sales volumes. The heavy-equipment maker posted adjusted earnings of $5.16 per share for the fourth quarter, slightly up from $5.14 per share a year earlier and above analysts' expectations of $4.71.
Meta Platforms (META) and Microsoft (MSFT) aren't the only Dow stocks moving after earnings today.
Caterpillar (CAT) came out with quarterly earnings of $5.16 per share, beating the Zacks Consensus Estimate of $4.67 per share. This compares to earnings of $5.14 per share a year ago.
Caterpillar logged a jump in sales in the fourth quarter, boosted by strength across all three of its primary segments.
CAT's Q4 earnings are set to decline for the sixth straight quarter, with weaker pricing and higher costs pressuring results despite higher volumes.
I initiate Caterpillar Inc. with a Buy rating heading into the Q4 2025 print. My main focus is on the Energy & Transportation segment, since it drove the recent re-rate. CAT Q3 sales to users rose 25%, and Power Generation increased 33% on engine demand. Backlog jumped $2.4B in Q3 and was up 39% YOY. I think the stock could see a double-digit sequential increase in Q4.
Beyond analysts' top-and-bottom-line estimates for Caterpillar (CAT), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2025.
Caterpillar (CAT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Caterpillar (CAT) closed at $645.38 in the latest trading session, marking a +2.6% move from the prior day.
Zacks.com users have recently been watching Caterpillar (CAT) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.