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CLAIM #13668 · CAT (CAT) · 2025Q3 earnings call · Oct 29, 2025 · due Dec 31, 2025

We continue to expect full year growth for sales to users.

Joe Creed · CEO

PENDING
graded after results covering Dec 31, 2025 are reported

How to check this claim

Look at: Full year sales to users growth, Construction Industries (North America), as discussed in management commentary

It came true if: Full year sales to users in North America Construction Industries higher than prior year (positive growth)

Where: management commentary on Q4/full-year earnings call

In context

e the midpoint of the $5 billion to $10 billion target range. Andrew will provide more details on key assumptions for the fourth quarter and full year in a moment. To further support our sales outlook, I'll now share the latest view of our end markets. Starting with Construction Industries. As I mentioned earlier, we're encouraged by another quarter of growth in sales to users and strong order rates across many of our regions. Customers continue to be responsive to the attractive rates we're offering through Cat Financial. We continue to anticipate full year growth in Construction Industries sales to users despite softness in the global industry. In North America, overall construction spending remains at healthy levels and infrastructure projects funded by the IIJA continue to be awarded. We continue to expect full year growth for sales to users. Full year dealer rental revenues are also expected to grow, and we anticipate dealer rental fleet loading will increase in the fourth quarter compared to the prior year. In Asia Pacific, we anticipate full year sales to users to be about flat. China has shown positive momentum to start the year, and we expect full year growth in the above 10-ton excavator industry but from a very low level of activity. In Asia Pacific, outside of China, we expect economic conditions to be soft. In EAME, we expect growth for the year, driven by healthy construction activity in Africa and the Middle East and improving economic conditions in Europe. With ongoing weaker construction activity in Latin America, we now expect to be about flat for the full year. Moving to Resource Industries. We anticipate lower

Verify independently

SEC filings for CAT · Claim quote is verbatim from the 2025Q3 earnings call.