Caterpillar Inc. reported its financial results for the second quarter and the first half of 2025, revealing a decline in both sales and profitability compared to the same periods in 2024. For the three months ended June 30, 2025, total sales and revenues amounted to $16.569 billion, a decrease of $120 million, or 1%, from $16.689 billion in the prior year. The company's operating profit for the quarter was $2.860 billion, down 18% from $3.482 billion in the same quarter of 2024. Profit per share also fell to $4.62, compared to $5.48 a year earlier.
In the first half of 2025, Caterpillar's total sales and revenues were $30.818 billion, reflecting a 5% decrease from $32.488 billion in the first half of 2024. The decline was attributed to lower sales volume of $873 million and unfavorable price realization of $664 million. Operating profit for the six months was $5.439 billion, down 22% from $7.001 billion in the previous year, with profit per share decreasing to $8.82 from $11.23.
Caterpillar's performance varied across its segments. The Energy & Transportation segment saw a 7% increase in sales to $7.836 billion in the second quarter, driven by higher sales volume and favorable price realization. In contrast, the Construction Industries segment experienced a 7% decline in sales to $6.190 billion, primarily due to unfavorable price realization and lower sales volume. The Resource Industries segment also reported a 4% decrease in sales to $3.087 billion, attributed to unfavorable price realization.
Operationally, Caterpillar's backlog increased by approximately $2.5 billion, indicating strong demand across its segments, particularly in Energy & Transportation. The company ended the second quarter with $5.4 billion in cash and cash equivalents, down from $6.889 billion at the end of 2024. Looking ahead, Caterpillar anticipates slightly higher sales and revenues for the full year 2025 compared to 2024, despite challenges posed by incremental tariffs and fluctuating market conditions. The company expects to incur restructuring costs of approximately $300 to $350 million and capital expenditures of around $2.5 billion in 2025.
About CATERPILLAR INC
Caterpillar Inc. is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Operating through segments like Construction Industries, Resource Industries, Energy & Transportation, and Financial Products, it serves customers worldwide via a vast dealer network. Caterpillar’s competitive advantages include integrated product design, extensive service offerings, and financing solutions that support equipment sales and lifecycle management.
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