Caterpillar Inc

Company facts

Industry

Construction Machinery & Equip

Headquarters

Irving, Texas

Most recent report

10-Q, filed Nov 4, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 18230

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 5 positive, 12 notable, and 0 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with material balance-sheet swings, tariff recoveries, and a large acquisition.
  Notable

  • Recorded $128M IEEPA tariff recoveries in Q3 2026 and $520M YTD, with $1.0B total costs previously.
  • Contract liabilities (customer advances) ballooned to $8.706B from $4.678B at Dec 2025.
  • Repurchased 9.1M shares for $7.1B YTD 2026 vs 11.0M for $4.0B in 2025; $1.60B in unsettled ASR.
  • Supplier finance program obligations grew to $1.19B from $936M at Dec 2025.
  • Completed $733M RPMGlobal acquisition in Feb 2026, adding $546M goodwill in Resource Industries.
  • Post-acquisition of Fabick for $1.24B cash at closing plus $165M holdback; dealer acquisition.

• Management's Discussion (Item 2)

  Core MD&A with detailed segment results, guidance, and liquidity analysis.
  Positive

  • Q3 2026 sales $20.682B, up 17% YoY, driven by higher volume and price.
  • Q3 2026 operating profit margin 20.4%, up from 17.3% in Q3 2025.
  • Q3 2026 profit per share $7.13, up 46% from $4.88 in Q3 2025.
  • Enterprise operating cash flow $10.6B for 9M 2026, up $2.445B YoY.
  Notable

  • Q4 2026 dealer inventory expected to decrease ~$1.6B, vs $600M decrease in Q4 2025.
  • Restructuring costs expected ~$300M in 2026, including $139M for divestiture of non-U.S. entities.
  • Cat Financial allowance for credit losses $332M, 0.91% of receivables, up from 0.84% in Q2 2026.
  • Resource Industries profit fell 2% for 9M 2026, despite 13% sales growth, due to tariff costs.
  • Share repurchases $7.745B in 9M 2026, with $7.192B remaining under $20B authorization.
  • Order backlog $78.1B at Q3 2026, up $6.0B from Q2 2026, with $32.6B not expected to fill in 12 months.

• Unregistered Sales and Repurchases (Item 2)

  Buyback pace accelerated sharply in Q3 2026, with $1.5B spent in the quarter.
  Positive

  • Board authorized $20.0B buyback in June 2024; $7.2B remained as of Sep 30, 2026.

What changed: Sep 2026 vs. Jun 2026

About 7% of CAT's Sep 2026 10-Q is new information. 37 paragraphs were added, 245 changed, and 55 removed. Below are the most important lines SECSift identified.

• Item 2 142
• Item 1 61
• Item 6 16
• Item 5 2
• Item 4 1