Caterpillar raises third-quarter 2026 revenue 17% to $20.7 billion
Key Facts
Caterpillar reported a 17% increase in sales and revenue to $20.7 billion in the third quarter of 2026, compared with $17.6 billion in the same period a year earlier, according to a company statement. Earnings per share were $7.13, versus $4.88 a year earlier, while adjusted earnings per share rose to $7.20 from $4.95. The company attributed revenue growth mainly to higher sales volumes and improved prices. CEO Joe Creed said the results reflected "the resilience of our end markets, with strong order rates and a record backlog." The results show broader growth in sales and operating profitability during the quarter.
Higher sales volumes contributed $2.2 billion and realized pricing had a positive impact of $663 million on Caterpillar revenue, according to the company statement. The company said volume growth was driven mainly by higher equipment sales to end users. Operating profit margin rose to 20.4% from 17.3% a year earlier, while the adjusted margin was 20.6%, compared with 17.5%. In the Power & Energy segment, sales increased 18% to $8.784 billion. The company attributed the performance particularly to growth in power generation sales tied to data center applications, as well as turbines and related services and large engines.
Caterpillar’s enterprise operating cash flow was $4.4 billion in the third quarter, and the company ended the period with enterprise cash of $7.9 billion, according to its earnings statement. The company is scheduled to hold a call and webcast to discuss performance on October 29, 2026, at 7:30 a.m. Central time. The event will give the company an opportunity to provide details on the results and discuss orders and end markets cited by its CEO. The quarterly results combine revenue growth and improved margins with strong cash flow. The figures here are limited to what the company reported for the quarter ended.
Crocs reported consolidated revenue of $1.043 billion in the third quarter of 2026, up 4.6% year over year, according to a company statement. Diluted earnings per share were $4.52, compared with $2.70 in the corresponding period, while adjusted earnings per share rose to $3.69 from $2.92. Revenue for the Crocs brand itself increased 4.4% to $873 million. The HEYDUDE brand also returned to growth, with revenue up 6.1% to $170 million. Revenue growth came from both brands, with HEYDUDE posting an increase after a period of declines.
Crocs raised its fiscal 2026 revenue growth outlook to about 3%, from a previous estimate of an increase between 1% and 2%, and expects fourth-quarter revenue to rise between 7% and 9% year over year. During the third quarter, the company repurchased about 2.0 million shares for $250 million. About $1.7 billion remained available under its repurchase authorization at quarter-end. The company statement scheduled a call to discuss third-quarter results for October 29, 2026, at 8:30 a.m. Eastern time. The new outlook represents a higher annual growth estimate than the range the company previously announced.
Alnylam reported global net product revenue of $1.292 billion in the third quarter of 2026, up 52% from the same period a year earlier, according to a company statement. TTR product revenue was about $1.150 billion, up 59%. Total revenue increased 17% to $1.458086 billion, from $1.249026 billion in the third quarter of 2025. GAAP net income was about $2.167335 billion, compared with $292.683 million a year earlier. Diluted earnings per share were $15.72, compared with $2.14. The quarter’s results included a tax benefit of $1.9 billion, mainly related to the release of valuation allowances on certain deferred tax assets.
In clinical program developments, Alnylam raised its enrollment target in the Phase 3 TRITON-CM trial of nucresiran to about 2,250 patients from 1,750. The company said it still expects to launch the drug for ATTR cardiomyopathy by 2030, if data are positive and it receives regulatory approval. It also expects to announce Phase 2 data for ALN-6400 and Phase 1 data for ALN-2232 alongside its fourth-quarter and fiscal 2026 earnings call in February 2027. In the second quarter of 2026, net product revenue was $1.172 billion, up 74% year over year, while TTR revenue was about $1.030 billion, an increase of 89%. Alnylam shares closed at $232.4 on October 28, while Caterpillar shares closed at $713.38 and Crocs shares at $119.69 on the same day.