What to Expect From Caterpillar's Q2 2026 Earnings Report

Irving, Texas-based Caterpillar Inc. (CAT) manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. The company has a market capitalization of $429.9 billion and is one of the world’s largest manufacturers of the said equipment.

CAT is expected to release its Q2 2026 earnings soon. Ahead of the event, analysts expect the company’s EPS to be $6.25 on a diluted basis, up 32.4% from $4.72 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.

For fiscal 2026, analysts project the company’s EPS to be $24.85, up 30.4% from $19.06 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 25.1% year over year (YoY) to $31.08 in fiscal 2027.           

CAT stock has grown 132.8% over the past 52 weeks, rallying the S&P 500 Index’s ($SPX) 20.3% rise and the State Street Industrial Select Sector SPDR ETF’s (XLI) 19.5% rise during the same time frame.         

On Apr. 30, CAT stock grew 9.9% following the release of its Q1 2026 earnings. The company’s revenue amounted to $17.4 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS came in at $5.54, also coming in on top of Wall Street’s forecasts. 

Analysts are somewhat bullish on CAT, with the stock currently rated “Moderate Buy” overall. Among the 23 analysts covering the stock, 13 recommend a “Strong Buy,” and 10 recommend a “Hold.” CAT’s average analyst price target is $1,020.45, indicating an upside of 9.3% from the current levels.