Caterpillar's Q1 revenue and adjusted EPS beats on higher volumes, pricing

Caterpillar

30/04/2026 11:39

Overview

Construction and mining equipment maker's Q1 revenue rose 22%, beating analyst expectations

Adjusted EPS for Q1 beat consensus

Company deployed $5.7 bln for share repurchases and dividends in Q1

Outlook

Caterpillar says a record backlog provides a strong foundation for continued positive momentum

Result Drivers

HIGHER SALES VOLUME - Co said Q1 revenue growth was mainly driven by increased sales volumes, particularly from changes in dealer inventories and higher equipment sales to end users

FAVORABLE PRICING - Co said higher prices contributed $426 mln to Q1 revenue growth

HIGHER MANUFACTURING COSTS - Co said profit growth was partially offset by increased manufacturing costs, largely from higher tariff costs

Company press release: ID:nPn3m27TWa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$17.40 bln
$16.61 bln (13 Analysts)
Q1 Adjusted EPS
Beat
$5.54
$4.62 (20 Analysts)
Q1 EPS
$5.47


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 12 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

Wall Street's median 12-month price target for Caterpillar Inc is $769.00, about 5.1% below its April 29 closing price of $810.05

The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 26 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)