Filing Flows › Caterpillar (CAT) › Guidance & outlook
Caterpillar (CAT) guidance and outlook
Caterpillar's 10-Q filed Nov 4, 2026 makes 50 forward-looking statements, 17 of them new and 19 no longer said since the filing before.
Guidance and outlook
Forward-looking statements, 10-Q filed Nov 4, 2026
- We continue to anticipate growth in Power Generation for both reciprocating engines and turbines and turbine-related services , driven by increasing energy demand to support the data center build-out related to cloud computing and generative Artificial Intelligence (AI).
- We expect continued momentum in demand for reciprocating engine aftermarket parts.
- In Construction Industries , in 2026 as compared to 2025, we expect strong fourth-quarter and full-year growth in sales of equipment to end users, supported by healthy end markets.
- new · We expect dealer rental fleet loading to remain strong; however, it will contribute less to growth in sales of equipment to end users in Construction Industries in the fourth quarter of 2026 than in the third quarter of 2026 due to strong rental fleet loading in the fourth quarter of 2025.
- The Middle East continues to face challenges, but we currently anticipate only a limited impact on sales of equipment to end users in EAME.
- In China, we anticipate moderate conditions, with growth in the above 10-ton excavator industry in 2026, off low levels of activity.
- new · We expect strong growth in sales of equipment to end users in 2026 as compared to 2025, primarily driven by rising demand for copper and gold, increasing activity in the Canadian oil sands and positive dynamics in Heavy Construction and Quarry and Aggregates.
- new · We expect strong growth in sales of equipment to end users in the fourth quarter of 2026 as compared to the fourth quarter of 2025, including a favorable impact from the timing of commissioning.
- We continue to expect rebuild activity in 2026 to increase moderately as compared to 2025.
- new · We now expect locomotive deliveries to be slightly lower in 2026 as compared to 2025 due to the timing of deliveries.
- new · We anticipate moderate sales and revenues growth in the fourth quarter of 2026 as compared to the fourth quarter of 2025.
- new · In Power & Energy, we anticipate moderate sales growth in the fourth quarter of 2026 as compared to the fourth quarter of 2025 as we continue to ramp capacity.
Caterpillar's latest quarter
Caterpillar, Q3 2026: revenue $20.7B (+17% year over year), operating margin 20.4%, net earnings $3.3B, operating cash flow $4.4B. The chart follows the revenue to costs, profit and cash.
Questions
What does Caterpillar expect?
We expect dealer rental fleet loading to remain strong; however, it will contribute less to growth in sales of equipment to end users in Construction Industries in the fourth quarter of 2026 than in the third quarter of 2026 due to strong rental fleet loading in the fourth quarter of 2025. We expect strong growth in sales of equipment to end users in 2026 as compared to 2025, primarily driven by rising demand for copper and gold, increasing activity in the Canadian oil sands and positive dynamics in Heavy Construction and Quarry and Aggregates. We expect strong growth in sales of equipment to
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.