Key Takeaways Caterpillar's Q1 2025 earnings dropped 24% on weak demand in construction and mining segments. Volvo CE's Q1 2025 sales slid 8%, but it launched 80 models and expanded its electric equipment range. CAT's U.S. production base, AI-fueled engine demand and aftermarket growth strengthen its outlook.Caterpillar Inc. (CAT) and Volvo (VLVLY) are global leaders in the heavy machinery and construction equipment industry, offering a wide range of products including trucks, excavators, and industrial e ...