Caterpillar raises annual revenue forecast on AI boom
Caterpillar raised its revenue outlook after beating profit estimates. Strong demand for data center power equipment and construction tools drove the growth.
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CATERPILLAR INC raised its annual revenue forecast after Q1 adjusted profit rose to $5.54 per share, beating analyst expectations of $4.62. Revenue grew 22% to $17.42 billion during the January-March period as AI infrastructure demand boosted the power and energy segment. The industrial bellwether's shift toward data center power generation provides a hedge against fluctuating construction demand in global markets.
