What happened: Caterpillar (CAT) stock jumped 10% in premarket trading on Tuesday.
What’s behind the move: The heavy equipment maker reported second quarter sales and revenues increased 24% to $20.5 billion. “This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter,” Caterpillar CEO Joe Creed said
The results were powered by strong order rates and a growing backlog across all three of the company’s primary segments. Caterpillar’s backlog rose to $72.1 billion, up 92% from the same time last year. What else you need to know: Caterpillar has become a winner of the AI trade by providing the massive power infrastructure required to keep data centers running.
Operating profit margin was 20.9% for the second quarter of 2026, compared with 17.3% for the second quarter of 2025. The stock is up 38% year to date, helping buoy the Dow Jones Industrial Average (DJI) to record highs. Ines Ferre is a senior business reporter for Yahoo Finance.