Caterpillar (CAT) Raises 2026 Sales Growth Target on Strong Demand

Caterpillar (CAT) raised its annual revenue growth forecast after beating second-quarter profit estimates, with revenue increasing 24% to $20.54 billion. The company benefited from heightened demand for power-generation and construction equipment linked to AI data centers, leading to a 10% jump in shares during premarket trading. Caterpillar's order backlog reached a record $72.1 billion, with $9.4 billion in orders booked for the April-to-June quarter. The solid earnings result and raised outlook indicate a robust demand for construction equipment, which may positively influence investor sentiment in industrial sectors.