IEEPA Tariff Recoveries Boost Q2 Profits
Caterpillar recorded $392 million in expected IEEPA tariff recoveries from claims submitted through CBP's CAPE system, boosting operating profit and profit per share by about $0.61.
CATERPILLAR INC is expected to release its Q3 2026 10-Q filing on October 27, 2026, before market open. Last quarter: Caterpillar's Q2 FY2026 results surged on broad demand strength and a one-time tariff recovery, with EPS jumping 68% to $7.77, though rising dealer inventories and ongoing tariff costs present headwinds.
EPS Estimate
$6.46
Revenue Estimate
$19.69B
Analyst consensus from Finnhub and Financial Modeling Prep. Actual results posted within minutes of the SEC filing on the CAT page.
Drawn from management commentary in the Q2 2026 10-Q:
Caterpillar recorded $392 million in expected IEEPA tariff recoveries from claims submitted through CBP's CAPE system, boosting operating profit and profit per share by about $0.61.
Management now expects full-year 2026 sales and revenues to grow in the mid-to-high teens, with strong growth across all primary segments driven by higher volume and pricing.
Total dealer inventory increased $600 million in Q2, including a $400 million build in Construction Industries, whereas a year ago it decreased; full-year dealer inventory is expected to be higher at year-end 2026 vs 2025.
Revenue
$20.54B
+23.98% YoY
EPS (Diluted)
$7.77
+68.18% YoY
Operating Income
$4.29B
+50.17% YoY
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