Caterpillar (CAT) Investor update summary

Leadership and business overview

• Power & Energy segment is a major growth driver, led by an executive with 25 years of experience across engineering, manufacturing, and customer-facing roles.

• Segment includes Oil & Gas, Power Generation, and Industrial verticals, each with diverse customers and products.

Power Generation trends and growth

• Power Gen is growing at a 30% CAGR, driven by demand for backup and primary power, especially from data centers.

• Data centers increasingly require both standby and primary power solutions, with "Bring Your Own Power" bridging utility delays.

• Gas engines are gaining favor for grid support and primary power, with significant product development for both gas and diesel.

Capacity expansion and investment

• Large engine capacity target was raised from 2x to 3x, with meaningful annual increases through 2030.

• Common engine and turbine platforms serve multiple markets, enhancing flexibility and scale.

• Capacity investments support both backup and primary power, as well as Oil & Gas and mining applications.