CAT
Industrials
Caterpillar (CAT): Backlog Up 96% And Margin Up 310 bp, But A $1.6B Dealer Destock Is Coming
Caterpillar's Q3 sales rose 17% and backlog hit a record $78B, but the company expects a $1.6B dealer destock in Q4 and about $2.2B of tariff costs this year.