EL7.AI
StocksMedium•29 October 2026•
3 min read

Caterpillar Raises Revenue 17% to $20.7 Billion in Third Quarter

Key Facts

1Caterpillar revenue rose 17% to $20.7 billion, from $17.6 billion a year earlier.
2Caterpillar earnings per share were $7.13, compared with $4.88, while adjusted earnings were $7.20, compared with $4.95.
3Caterpillar recorded enterprise operating cash flow of $4.4 billion and an enterprise cash balance of $7.9 billion.
4Analysts expected S&P 500 companies’ earnings per share to grow about 30% during the third-quarter earnings season.
5Verano net revenue after discounts was $212.443 million, and its net loss was $4.065 million.

Caterpillar reported a 17% increase in revenue in the third quarter of 2026 to $20.7 billion, compared with $17.6 billion in the same period of 2025, according to an investor relations statement. Earnings per share rose to $7.13 from $4.88 a year earlier, while adjusted earnings per share were $7.20, compared with $4.95. The comparison shows simultaneous year-on-year growth in revenue and profitability, with adjusted earnings also expanding. The company said its enterprise operating cash flow was $4.4 billion in the quarter. It ended the period with an enterprise cash balance of $7.9 billion.

Caterpillar said its quarterly sales and revenue totaled $20.7 billion, up 17% from the third quarter of 2025. The statement paired the increase with higher earnings per share, with reported earnings at $7.13 compared with $4.88 in the comparable period. On an adjusted basis, earnings per share were $7.20, up from $4.95. These figures provide a picture of revenue and earnings growth during the quarter, while the available information does not detail the reasons for the increase. The company’s announcement came during the third-quarter earnings season.

According to Associated Press data citing FactSet, analysts expected S&P 500 companies to post aggregate earnings-per-share growth of about 30% year on year in the third-quarter earnings season. The forecast places companies’ results in a season expected to see broad earnings expansion, but it applies to the index overall and is not a specific estimate for Caterpillar. Against the backdrop of the season, JPMorgan reported earnings of $15.3 billion, or $5.57 per share, compared with $14.4 billion and $5.07 per share a year earlier, according to AP. The comparison also reflects year-on-year growth in the bank’s earnings. These figures provide context for Caterpillar’s results among other company announcements during the same period.

Caterpillar said it used $2.0 billion in cash for share repurchases and dividends during the third quarter of 2026. This came alongside enterprise operating cash flow of $4.4 billion and an enterprise cash balance of $7.9 billion at the end of the period. The figures show cash flow, the cash balance and the use of some cash for shareholder returns during the quarter. The statement did not specify, in the available information, how the $2.0 billion was divided between repurchases and dividends. The available facts also do not include further details about the company’s plans for the coming period.

Verano reported net revenue after discounts of $212.443 million in the third quarter of 2026, compared with $202.810 million in the same period a year earlier. Net loss attributable to the company and its subsidiaries narrowed to $4.065 million from $43.832 million a year earlier. The figures combine higher revenue with a smaller year-on-year loss in the quarter. The information provided does not include a company explanation of the drivers of the changes or a comparison with market expectations. The results are among the quarterly announcements followed by markets during the third-quarter earnings season.