Caterpillar Inc. (CAT) Q1 2026 (USD): Adj. EPS 5.54 (exp. 4.65), Revenue 17.4bln (exp. 16.53bln)

• Operating margin 17.7% (prev. 18.1% Q/Q).
• Adj. op. profit margin 18% (prev. 18.3%)

Caterpillar Q1 Retail Statistics:

• Total +14%

Construction Industries

• Asia/Pacific 0% (prev. -2%)
• EAME -2% (prev. -1%)
• Latin America +4% (prev. +6%)
• North America +12% (prev. +18%)
• World +7% (prev. +11%)

Commmentary

• Unfavorable manufacturing costs largely reflected the impact of higher tariff costs. 
• 2030 growth targets, anticipating enterprise sales and revenue to grow at a compound annual growth rate (CAGR) of 6-9%.
• Expects its 2026 adjusted operating profit margin to remain near the lower end of its annual target range, including the impact of tariff costs.