Can Caterpillar’s $72B Backlog Save Its Stock From a 10% Slump?

• CAT backlog hits record $72B, 59% ships within 12 months. • Power gen sales +72% on AI data-center demand. • Tariffs to cost $2.2B this year; Q3 EPS seen +42%. Caterpillar's $72B backlog anchors bulls after a 15% monthly pullback. Power-generation sales rose 72% on data-center demand, offsetting a $2.2B tariff headwind. Wall Street expects a 42% Q3 EPS jump, and 59% of backlog ships within a year.