Caterpillar Inc.'s Q1 2025 revenue fell 10%, but strong EPS, a 5B backlog, and robust Energy demand signal future potential. Read why CAT stock is a hold.

Caterpillar on Wednesday posted a drop in first-quarter profit, hurt by weak demand for its construction equipment due to economic uncertainty and said annual sales would be slightly lower from a year ago if it accounts for tariff impact.

Caterpillar has trimmed corporate travel and other discretionary spending to offset a tariff hit, but has no plans to raise prices or overhaul supply chains, executives said Wednesday. The company is not currently considering price increases due to tariffs,