CAT Q3 Earnings Call Highlights Record Backlog and Capacity Push

What happened: Caterpillar discussed record backlog and manufacturing capacity expansion on its third-quarter 2026 earnings call, while maintaining its full-year outlook despite tariff and cost pressures. Key numbers: Record $78 billion backlog, up about 96% year over year. Why it matters: Management flagged manufacturing capacity as the main constraint on Power & Energy growth and expects a roughly $1 billion year-over-year sales volume headwind from fourth-quarter dealer inventory reduction. CAT carries a Zacks Rank #3 (Hold). Market: -6.9% today ($586.31), -1.6% YTD, 1.2x vol — as of 20:03 UTC

Caterpillar discussed record backlog and manufacturing capacity expansion on its third-quarter 2026 earnings call, while maintaining its full-year outlook despite tariff and cost pressures.

Management flagged manufacturing capacity as the main constraint on Power & Energy growth and expects a roughly $1 billion year-over-year sales volume headwind from fourth-quarter dealer inventory reduction. CAT carries a Zacks Rank #3 (Hold). Market: -6.9% today ($586.31), -1.6% YTD, 1.2x vol — as of 20:03 UTC