Caterpillar (CAT) Stock Hits All-Time High on Record Sales and Earnings Beat
Caterpillar shares surged to a 52-week high of $571.14 after delivering a robust earnings beat, with $4.95 EPS against expectations of $4.52. The company posted record Q3 sales of $17.64 billion, a 9.5% year-over-year increase, driven by strong demand in data center infrastructure.
Tariffs weighed on operations, adding $500-600 million in quarterly costs, with a projected full-year impact of $1.6-1.75 billion. Despite these headwinds, Caterpillar's order backlog reached an all-time high of $39.8 billion, growing by $2.4 billion during the quarter.
The energy and transportation segment led growth, generating $8.4 billion in sales, fueled by demand for power generators supporting data centers. Caterpillar announced a quarterly dividend of $1.51 per share, while analysts raised price targets, with a consensus of $518.19.
