Caterpillar raised its 2030 revenue guidance during a virtual Wells Fargo investor event featuring CEO Joe Creed.
A robust order backlog provides the company with significant revenue visibility through the end of the decade. Management cited strong demand and strategic capacity investments as primary drivers for the upgraded outlook.
The Power & Energy segment is leading growth due to a surge in orders for data center power generation equipment. Some of these equipment orders already extend through 2030.