Caterpillar reported second quarter 2025 earnings per share of $4.62 and adjusted earnings per share of $4.72. The company generated $3.1 billion in operating cash flow during the quarter and returned $1.5 billion to shareholders through stock repurchases and dividends.

Caterpillar Inc. (NYSE: CAT) recently announced its second quarter 2025 financial results. Joe Creed, Caterpillar's Chief Executive Officer, commented: "The Caterpillar team remained focused on customer success this quarter and delivered solid operational performance. We continue to see strong order activity across our segments. Infrastructure investment and growing energy needs keep demand resilient."

Second quarter 2025 sales and revenues totaled $16.6 billion, representing a 1% decrease from $16.7 billion in the second quarter of 2024. The decline was primarily attributable to unfavorable price realization of $414 million, partially offset by higher sales volume of $237 million. The volume increase was mainly driven by higher end-user equipment sales.

Operating profit margin for the second quarter of 2025 was 17.3%, compared to 20.9% in the second quarter of 2024. Adjusted operating profit margin for the second quarter of 2025 was 17.6%, compared to 22.4% in the second quarter of 2024.

Earnings per share for the second quarter of 2025 was $4.62, compared to $5.48 in the second quarter of 2024. Adjusted earnings per share for the second quarter of 2025 was $4.72, compared to adjusted earnings per share of $5.99 in the second quarter of 2024. Both adjusted operating profit margin and adjusted earnings per share exclude restructuring costs for the second quarters of 2025 and 2024.

Operating cash flow for the second quarter of 2025 was $3.1 billion, and the company ended the quarter with $5.4 billion in cash. During the quarter, the company invested $800 million in Caterpillar common stock repurchases and $700 million in dividend payments.