Caterpillar's Power Generation Backlog Just Hit $72 Billion. The Construction Cycle Barely Matters Anymore.

Caterpillar (NYSE: CAT) posted eye-popping numbers in the second quarter of 2026 as its backlog grew 92% year over year to more than $72 billion. The narrative behind the backlog is just as important as the number itself, as the AI boom and data centers in particular drove the astonishing growth. Strong demand for large generator sets and turbines grew 72%. Caterpillar's biggest challenge now is not the immense demand; it's the company's capacity to meet it. This is what's actually limiting growth as Caterpillar does its best to keep up with orders. The AI-related boom has largely broken away from the traditional construction cycle, as many of Caterpillar's Power & Energy customers are ordering equipment through 2030. Approximately 59% of the $72 billion backlog is expected to be delivered in the next year. Still, the Power & Energy segment's portion extends much further out than is considered normal for the construction equipment industry. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool