
Caterpillar reported adjusted EPS of $4.95, surpassing estimates of $4.53, and revenue of $17.6B, exceeding estimates of $16.77B, with an improved outlook anticipating strong sales growth in Q4 and full-year 2025 sales modestly higher than 2024.
Bullish
Sales and revenues increased 10% to $17.6 billion, an all-time record for a single quarter, driven by resilient demand and focused execution across the three primary segments.
Bearish
Tariffs had a negative impact on margins across all three primary segments, with the net impact from incremental tariffs near the top end of the estimated range.