Caterpillar Inc. CAT exited the third quarter of 2026 with a record order backlog of $78 billion, reflecting robust demand across its businesses and providing solid revenue visibility for the coming quarters.
The company's backlog nearly doubled from the year-ago level, underscoring sustained customer spending on construction, mining and power generation equipment.
CAT's Industry Peers Witness Healthy Backlog Growth Terex Corporation TEX exited the third quarter of 2026 with an order backlog of $7 billion, up $802 million, or 12.9%, year over year on a pro forma basis.
The Materials Solutions segment's backlog increased 52.1% year over year to $289 million, while the Infrastructure Solutions segment recorded a 47% increase to $381.5 million.
The book-to-bill ratios for Materials Solutions and Infrastructure Solutions stood at 86% and 149%, respectively.