Caterpillar rises after lifting 2026 sales growth forecast
BUZZ-Caterpillar rises after lifting 2026 sales growth forecast Updates
** Shares of construction equipment company Caterpillar CAT.N rise 12% to $930.8
** Co raises its annual revenue growth forecast after beating Q2 profit estimates, benefiting from a buildout of AI data centers that has spurred demand for its power-generation and construction equipment
** The company cut its full-year tariff costs forecast to around $2.2 billion from the previously expected $2.2 billion to $2.6 billion
** Posts Q2 adjusted per-share profit of $8.17, up from $4.72 a year earlier
** CAT's overall quarterly revenue grew 24% to $20.54 billion and its core construction segment revenue grew 35%
** Including session moves, stock up ~62.4% YTD
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))