Good morning. Remember, consolidated backlog finished March at $62 billion firm — that's 79% above a year ago and $28 billion above the prior quarter. You know, large recip engine backlog has grown more than three and a half times since January twenty twenty-four when we laid out the capacity plan. Orders now stretch into twenty twenty-eight, with Power and Energy estimated as a substantial portion. Backlog's a demand signal, not revenue today; delivery runs years. Based on what we see today, our definition of winning remains absolute dollar profit growth, not margin.

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CAT / The backlog: record $62 billion, orders into 2028

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2026-07-29T19:10:50.225Z