Caterpillar Inc 8-K, filed Apr 30, 2026

Caterpillar Inc (CAT)

8-K 2026-04-30 For: 2026-04-30

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Added on April 30, 2026

About this 8-K

Caterpillar Inc filed this 8-K on April 30, 2026.

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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(d)	Exhibits:
	The following is furnished as an exhibit to this report:
	99.1	Caterpillar Inc. press release dated April 30, 2026
	99.2	Retail Statistics
	104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CATERPILLAR INC.


April 30, 2026	By:	/s/ Derek Owens
		Derek Owens Chief Legal Officer and General Counsel


	First Quarter
($ in billions except profit per share)	2026	2025
Sales and Revenues	$17.4	$14.2
Profit Per Share	$5.47	$4.20
Adjusted Profit Per Share	$5.54	$4.25

Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13.


●			First-quarter 2026 sales and revenues increased 22% to $17.4 billion
●			First-quarter 2026 profit per share of $5.47; adjusted profit per share of $5.54
●			Deployed $5.7 billion of cash for share repurchases and dividends in the first quarter


Sales and Revenues by Segment
(Millions of dollars)	First Quarter 2025		Sales Volume		Price Realization		Currency		Inter-Segment / Other		First Quarter 2026		$ Change		% Change

Power & Energy	$	5,783	$	840	$	108	$	111	$	189	$	7,031	$	1,248	22%
Construction Industries	5,184		1,459		356		143		19		7,161		1,977		38%
Resource Industries	3,661		85		(39)		78		12		3,797		136		4%
All Other Segment	70		1		—		—		6		77		7		10%
Corporate Items and Eliminations	(1,320)		(67)		1		19		(226)		(1,593)		(273)
Machinery, Power & Energy	13,378		2,318		426		351		—		16,473		3,095		23%

Financial Products Segment	1,007		—		—		—		89		1,096		89		9%
Corporate Items and Eliminations	(136)		—		—		—		(18)		(154)		(18)
Financial Products Revenues	871		—		—		—		71		942		71		8%

Consolidated Sales and Revenues	$	14,249	$	2,318	$	426	$	351	$	71	$	17,415	$	3,166	22%


Sales and Revenues by Geographic Region
	North America			Latin America			EAME			Asia/Pacific			External Sales and Revenues			Inter-Segment			Total Sales and Revenues
(Millions of dollars)	$		% Chg	$		% Chg	$		% Chg	$		% Chg	$		% Chg	$		% Chg	$		% Chg
First Quarter 2026
Power & Energy	$	3,500	33%	$	278	(15%)	$	1,141	11%	$	794	17%	$	5,713	23%	$	1,318	17%	$	7,031	22%
Construction Industries	4,292		48%	650		29%	1,199		38%	961		11%	7,102		38%	59		48%	7,161		38%
Resource Industries	1,836		14%	572		(6%)	560		10%	742		(14%)	3,710		3%	87		16%	3,797		4%
All Other Segment	7		(13%)	—		—%	3		200%	2		—%	12		9%	65		10%	77		10%
Corporate Items and Eliminations	(55)			—			(4)			(5)			(64)			(1,529)			(1,593)
Machinery, Power & Energy	9,580		34%	1,500		5%	2,899		21%	2,494		4%	16,473		23%	—		—%	16,473		23%

Financial Products Segment	741		9%	111		12%	133		9%	111		7%	1,096		9%	—		—%	1,096		9%
Corporate Items and Eliminations	(91)			(19)			(24)			(20)			(154)			—			(154)
Financial Products Revenues	650		8%	92		15%	109		6%	91		6%	942		8%	—		—%	942		8%

Consolidated Sales and Revenues	$	10,230	32%	$	1,592	5%	$	3,008	20%	$	2,585	4%	$	17,415	22%	$	—	—%	$	17,415	22%

First Quarter 2025
Power & Energy	$	2,625		$	326		$	1,026		$	677		$	4,654		$	1,129		$	5,783
Construction Industries	2,904			504			867			869			5,144			40			5,184
Resource Industries	1,610			606			510			860			3,586			75			3,661
All Other Segment	8			—			1			2			11			59			70
Corporate Items and Eliminations	(11)			(1)			(1)			(4)			(17)			(1,303)			(1,320)
Machinery, Power & Energy	7,136			1,435			2,403			2,404			13,378			—			13,378

Financial Products Segment	682			99			122			104			1,007			—			1,007
Corporate Items and Eliminations	(80)			(19)			(19)			(18)			(136)			—			(136)
Financial Products Revenues	602			80			103			86			871			—			871

Consolidated Sales and Revenues	$	7,738		$	1,515		$	2,506		$	2,490		$	14,249		$	—		$	14,249


Profit (Loss) by Segment
(Millions of dollars)	First Quarter 2026		First Quarter 2025		$ Change		% Change
Power & Energy	$	1,450	$	1,288	$	162	13	%
Construction Industries	1,535		1,024		511		50	%
Resource Industries	378		623		(245)		(39	%)
All Other Segment	(43)		(19)		(24)		(126	%)
Corporate Items and Eliminations	(321)		(401)		80
Machinery, Power & Energy	2,999		2,515		484		19	%

Financial Products Segment	245		215		30		14	%
Corporate Items and Eliminations	(8)		(14)		6
Financial Products	237		201		36		18	%

Consolidating Adjustments	(151)		(137)		(14)

Consolidated Operating Profit	$	3,085	$	2,579	$	506	20	%


POWER & ENERGY
(Millions of dollars)
Segment Sales
	First Quarter 2025			Sales Volume			Price Realization			Currency			Inter-Segment		First Quarter 2026		$ Change		% Change
Total Sales	$	5,783		$	840		$	108		$	111		$	189	$	7,031	$	1,248	22	%

Sales by Application
	First Quarter 2026			First Quarter 2025			$ Change			% Change
Power Generation	$	2,817		$	1,996		$	821		41		%
Oil and Gas	1,423			1,258			165			13		%
Industrial	1,473			1,400			73			5		%

External Sales	5,713			4,654			1,059			23		%
Inter-segment	1,318			1,129			189			17		%
Total Sales	$	7,031		$	5,783		$	1,248		22		%

Segment Profit
	First Quarter 2026			First Quarter 2025			Change			% Change
Segment Profit	$	1,450		$	1,288		$	162		13		%
Segment Profit Margin	20.6		%	22.3		%	(1.7		pts)


FINANCIAL PRODUCTS SEGMENT
(Millions of dollars)
Revenues by Geographic Region
	First Quarter 2026		First Quarter 2025		$ Change		% Change
North America	$	741	$	682	$	59	9	%
Latin America	111		99		12		12	%
EAME	133		122		11		9	%
Asia/Pacific	111		104		7		7	%
Total Revenues	$	1,096	$	1,007	$	89	9	%

Segment Profit
	First Quarter 2026		First Quarter 2025		Change		% Change
Segment Profit	$	245	$	215	$	30	14	%


(Dollars in millions except per share data)	Operating Profit		Operating Profit Margin		Profit Before Taxes		Provision (Benefit) for Income Taxes		Profit		Profit per Share

Three Months Ended March 31, 2026 - U.S. GAAP	$	3,085	17.7	%	$	3,211	$	670	$	2,549	$	5.47
Restructuring costs	41		0.3	%	41		9		32		0.07

Three Months Ended March 31, 2026 - Adjusted	$	3,126	18.0	%	$	3,252	$	679	$	2,581	$	5.54

Three Months Ended March 31, 2025 - U.S. GAAP	$	2,579	18.1	%	$	2,570	$	574	$	2,003	$	4.20

Restructuring costs	32		0.2	%	33		8		25		0.05


Three Months Ended March 31, 2025 - Adjusted	$	2,611	18.3	%	$	2,603	$	582	$	2,028	$	4.25


(Dollars in millions)	Profit Before Taxes		Provision (Benefit) for Income Taxes		Effective Tax Rate

Three Months Ended March 31, 2026 - U.S. GAAP	$	3,211	670		20.9	%


Excess stock-based compensation	—		68
Annual effective tax rate, excluding discrete items	$	3,211	$	738	23.0	%


Excess stock-based compensation	—		(68)
Restructuring costs	41		9

Three Months Ended March 31, 2026 - Adjusted	$	3,252	$	679


	Three Months Ended March 31,
		2026		2025
Sales and revenues:
Sales of Machinery, Power & Energy		$	16,473	$	13,378
Revenues of Financial Products		942		871
Total sales and revenues		17,415		14,249

Operating costs:
Cost of goods sold		11,306		8,965
Selling, general and administrative expenses		1,816		1,593
Research and development expenses		537		480
Interest expense of Financial Products		345		326
Other operating (income) expenses		326		306
Total operating costs		14,330		11,670

Operating profit		3,085		2,579

Interest expense excluding Financial Products		134		116
Other income (expense)		260		107

Consolidated profit before taxes		3,211		2,570

Provision (benefit) for income taxes		670		574
Profit of consolidated companies		2,541		1,996

Equity in profit (loss) of unconsolidated affiliated companies		7		7

Profit of consolidated and affiliated companies		2,548		2,003

Less: Profit (loss) attributable to noncontrolling interests		(1)		—

Profit 1		$	2,549	$	2,003


Profit per common share		$	5.50	$	4.22
Profit per common share — diluted 2		$	5.47	$	4.20

Weighted-average common shares outstanding (millions)
– Basic		463.4		474.9
– Diluted 2		465.8		477.1


1			Profit attributable to common shareholders.
2			Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.


	March 31, 2026		December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	4,072	$	9,980
Receivables – trade and other	11,447		10,920
Receivables – finance	10,443		10,649
Prepaid expenses and other current assets	2,980		2,801
Inventories	19,626		18,135
Total current assets	48,568		52,485

Property, plant and equipment – net	15,249		15,140
Long-term receivables – trade and other	2,490		2,142
Long-term receivables – finance	14,341		14,272
Noncurrent deferred and refundable income taxes	2,419		2,882
Intangible assets	419		241
Goodwill	5,865		5,321
Other assets	6,199		6,102
Total assets	$	95,550	$	98,585

Liabilities
Current liabilities:
Short-term borrowings:

-- Financial Products	$	4,729	$	5,514
Accounts payable	9,641		8,968
Accrued expenses	5,454		5,587
Accrued wages, salaries and employee benefits	1,434		2,554
Customer advances	4,382		3,314
Dividends payable	—		703
Other current liabilities	2,567		2,798
Long-term debt due within one year:
-- Machinery, Power & Energy	35		35
-- Financial Products	7,660		7,085
Total current liabilities	35,902		36,558

Long-term debt due after one year:
-- Machinery, Power & Energy	10,671		10,678
-- Financial Products	19,971		20,018
Liability for postemployment benefits	3,659		3,838
Other liabilities	6,687		6,175
Total liabilities	76,890		77,267

Shareholders’ equity
Common stock	5,852		7,181
Treasury stock	(53,307)		(49,539)
Profit employed in the business	67,997		65,448
Accumulated other comprehensive income (loss)	(1,881)		(1,772)
Noncontrolling interests	(1)		—
Total shareholders’ equity	18,660		21,318
Total liabilities and shareholders’ equity	$	95,550	$	98,585


Cash equivalents primarily represent short-term, highly liquid investments with original maturities of generally three months or less.


	Three Months Ended March 31,
	2026		2025
Cash flow from operating activities:
Profit of consolidated and affiliated companies	$	2,548	$	2,003
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization	595		540

Provision (benefit) for deferred income taxes	534		(38)



Other	68		78
Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other	(801)		155
Inventories	(1,501)		(990)
Accounts payable	938		401
Accrued expenses	(202)		(198)
Accrued wages, salaries and employee benefits	(1,123)		(1,144)
Customer advances	1,328		713
Other assets – net	(184)		69
Other liabilities – net	(330)		(300)
Net cash provided by (used for) operating activities	1,870		1,289
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others	(728)		(710)
Expenditures for equipment leased to others	(323)		(208)
Proceeds from disposals of leased assets and property, plant and equipment	191		149
Additions to finance receivables	(3,890)		(3,209)
Collections of finance receivables	3,876		3,049
Proceeds from sale of finance receivables	13		7
Investments and acquisitions (net of cash acquired)	(788)		(2)
Proceeds from sale of businesses and investments (net of cash sold)	—		12
Proceeds from maturities and sale of securities	361		923
Investments in securities	(467)		(177)
Other – net	(20)		(9)
Net cash provided by (used for) investing activities	(1,775)		(175)
Cash flow from financing activities:
Dividends paid	(703)		(674)
Common stock issued, and other stock compensation transactions, net	(97)		(64)
Payments to purchase common stock	(5,028)		(3,660)


1			Elimination of receivables between MP&E and Financial Products.
2			Reclassification of MP&E’s trade receivables purchased by Financial Products and Financial Products’ wholesale inventory receivables.
3			Elimination of MP&E's insurance premiums that are prepaid to Financial Products.
4			Reclassification of Financial Products’ other assets to property, plant and equipment.
5			Reclassification reflecting required netting of deferred tax assets/liabilities by taxing jurisdiction.
6			Elimination of other intercompany assets and liabilities between MP&E and Financial Products.
7			Elimination of payables between MP&E and Financial Products.
8			Elimination of prepaid insurance in Financial Products’ other liabilities.
9			Elimination of debt between MP&E and Financial Products.
10			Eliminations associated with MP&E’s investments in Financial Products’ subsidiaries.


1			Elimination of receivables between MP&E and Financial Products.
2			Reclassification of MP&E’s trade receivables purchased by Financial Products and Financial Products’ wholesale inventory receivables.
3			Elimination of MP&E’s insurance premiums that are prepaid to Financial Products.
4			Reclassification of Financial Products’ other assets to property, plant and equipment.
5			Reclassification reflecting required netting of deferred tax assets/liabilities by taxing jurisdiction.
6			Elimination of other intercompany assets and liabilities between MP&E and Financial Products.
7			Elimination of payables between MP&E and Financial Products.
8			Elimination of prepaid insurance in Financial Products’ other liabilities.
9			Elimination of debt between MP&E and Financial Products.
10			Eliminations associated with MP&E’s investments in Financial Products’ subsidiaries.


			Supplemental Consolidating Data
	Consolidated		Machinery, Power & Energy		Financial Products		Consolidating Adjustments
Cash flow from operating activities:
Profit of consolidated and affiliated companies	$	2,548	$	2,358	$	190	$	—
Adjustments to reconcile profit to net cash provided by operating activities:
Depreciation and amortization	595		396		199		—


Provision (benefit) for deferred income taxes	534		550		(16)		—


Other	68		4		(96)		160		1

Changes in assets and liabilities, net of acquisitions and divestitures:
Receivables – trade and other	(801)		(817)		(2)		18		1,2
Inventories	(1,501)		(1,501)		—		—
Accounts payable	938		864		45		29		1
Accrued expenses	(202)		(183)		(19)		—
Accrued wages, salaries and employee benefits	(1,123)		(1,098)		(25)		—
Customer advances	1,328		1,328		—		—
Other assets – net	(184)		(183)		11		(12)		1
Other liabilities – net	(330)		(416)		59		27		1
Net cash provided by (used for) operating activities	1,870		1,302		346		222
Cash flow from investing activities:
Capital expenditures – excluding equipment leased to others	(728)		(719)		(10)		1		1
Expenditures for equipment leased to others	(323)		(4)		(320)		1		1
Proceeds from disposals of leased assets and property, plant and equipment	191		22		171		(2)		1
Additions to finance receivables	(3,890)		—		(4,452)		562		2
Collections of finance receivables	3,876		—		4,443		(567)		2
Net intercompany purchased receivables	—		—		217		(217)		2
Proceeds from sale of finance receivables	13		—		13		—

Collections of intercompany receivables (original maturities greater than three months)	—		—		26		(26)		3

Investments and acquisitions (net of cash acquired)	(788)		(788)		—		—

Proceeds from maturities and sale of securities	361		219		142		—
Investments in securities	(467)		(213)		(254)		—
Other – net	(20)		91		(111)		—


1			Elimination of Financial Products’ revenues earned from MP&E.
2			Elimination of net expenses recorded between MP&E and Financial Products.
3			Elimination of interest expense recorded between Financial Products and MP&E.
4			Elimination of discount recorded by MP&E on receivables sold to Financial Products and of interest earned between MP&E and Financial Products as well as dividends paid by Financial Products to MP&E.


5			Profit attributable to common shareholders.


1			Elimination of non-cash adjustments and changes in assets and liabilities related to consolidated reporting.
2			Reclassification of Financial Products’ cash flow activity from investing to operating for receivables that arose from the sale of inventory.
3			Elimination of proceeds and payments to/from MP&E and Financial Products.