Caterpillar: 3 Key Takeaways for Long-Term Investors

Caterpillar reported record Q3 2026 quarterly sales of $20.7 billion, driven by surging AI data center power demand and infrastructure projects. The company's order backlog reached a historic $78 billion (96% increase year-over-year), with orders extending to 2030. Management announced a $1 billion manufacturing capacity expansion in North Carolina and expects full-year 2026 revenue growth in the mid- to high teens.