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Caterpillar Backlog Surges to $72B on AI Boom, Lifting US30 Outlook

24/7 Wall St. Read original source (opens in a new tab)
The Story

News Summary

  • Caterpillar reported record Q2 revenue of $20.54 billion and EPS of $8.17, driven by a 92% year-over-year surge in backlog to $72 billion.
  • Rapidly expanding AI data center power generation needs are securing heavy industrial equipment orders stretching out to 2030.
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US30 price history

52573.29 +13.19% over the displayed period

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