Caterpillar Inc. (CAT)[Tv]

Key Developments

• Caterpillar reported record-breaking Q2 2026 results, posting $20.5 billion in revenue and adjusted EPS of $8.17—both significantly exceeding expectations—driven by a 35% surge in Construction Industries and a 72% increase in power generation demand tied to AI data center expansion.
• Caterpillar secured an $110 million contract for the Resolution Copper project, one of the largest domestic copper mines in U.S. history, with Empire CAT supplying essential underground mining equipment—a high-stakes alignment with national industrial and mineral sovereignty goals.
• Caterpillar’s backlog surged to $72 billion, up 92% year-over-year, with nearly 60% due for delivery within the next 12 months—a self-sustaining, high-visibility growth engine fueled by structural demand across infrastructure, mining, and digital energy.
• Michael Burry publicly added Caterpillar to his short list, signaling a high-profile contrarian bet against the industrial stock, citing speculative valuation and macroeconomic fragility, despite strong fundamentals and accelerating tailwinds.
• ARK Invest reduced its position in Caterpillar, marking a strategic pivot toward AI, aerospace, and next-generation energy—a symbolic indictment of CAT’s growing disconnect from the AI narrative and a red flag for sentiment-driven valuation erosion.