Key Points Caterpillar beat expectations in the third quarter, and its backlog soared to record levels. Strong results overshadowed the high cost of tariffs. After a big gain in 2025, Caterpillar stock looks expensive. 10 stocks we like better than Caterpillar › Heavy equipment manufacturer Caterpillar (NYSE: CAT) reported solid third-quarter results on Oct. 29, beating analyst estimates across the board and triggering a rally for the stock. Image source: Getty Images. Revenue rose 10% year ove ...