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Caterpillar CAT Q1 2025 earnings

Reported April 30, 2025 · Before market open

Revenue$14.2BMiss by $472.5M
EPS$4.25Miss by $0.10
Revenue estimate$14.7B
EPS estimate$4.35

Next report

Nov 4, 2026 (in a month)
Revenue estimate$20.5B
EPS estimate$6.95

Financials

Q1 2025

Income statement

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Revenue$14.2B-9.8%
Gross profit$5.3B-13.9%
Operating income$2.6B-26.7%
Net income$2.0B-29.8%
EPS (diluted)$4.20-27.0%

Balance sheet

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Cash & equivalents$3.6B-28.2%
Total assets$85.0B+1.5%

Cash flow

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Operating cash flow$1.3B-37.2%
CapEx$710.0M+42.0%
Free cash flow$579.0M-62.7%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$157.62B-13.9%
P/E15.9×-0.4×
P/S2.5×-0.2×

Profitability

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Gross margin101%+0.6pp
Operating margin19.2%-1.4pp
Net margin15.7%-1.1pp
FCF margin14.3%-3.1pp

Returns & leverage

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Current ratio1.3×0.0×

Segments

By segment

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Construction Industries$5.2B-19.3%
Resource Industries$3.7B+14.7%
Financial Products Segment$1.0B+1.6%
All Other Segment$70.0M-35.8%

By geography

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North
 America$7.7B-9.7%
EAME$2.5B-12.1%
Asia/
 Pacific$2.5B-11.5%
Latin
 America$1.5B-2.8%

By product

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Financial Products$871.0M+3.8%

FAQ

When did Caterpillar report Q1 2025 earnings?
Caterpillar (CAT) reported Q1 2025 earnings on April 30, 2025 before market open.
What were Caterpillar's Q1 2025 revenue and EPS?
Caterpillar reported revenue of $14.2B and eps of $4.25 for Q1 2025.
Did Caterpillar beat estimates in Q1 2025?
Revenue missed the consensus estimate of $14.7B by $472.5M. EPS missed the consensus estimate of $4.35 by $0.10.
How did Caterpillar's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 9.8% from $15.8B a year earlier and eps declined 24.1% from $5.60.
Where can I find Caterpillar's Q1 2025 SEC filings?
You can read the 8-K earnings release (0000018230-25-000013) and the 10-Q periodic report (0000018230-25-000016) directly on SEC EDGAR. The filing index links above go to sec.gov.