Caterpillar Construction Equipment Sales Up Low‑Single‑Digits Q1

Construction equipment dealers reported low‑single‑digit YoY sales growth in Q1 2026, modestly beating expectations.
Dealership Sentiment Indicator stayed in growth quadrant but shifted nearer downturn, with future indicator at its lowest since 2023.
Caterpillar shares near all‑time highs, boosted by datacenter demand and mining equipment recovery; NA construction makes up 20‑25% of revenue.
Dealers expect flat sales Q2 2026 and mid‑single‑digit growth in 2027, with only two forecasting a decline overall.