{"id":44936,"date":"2026-08-10T11:30:28","date_gmt":"2026-08-10T06:30:28","guid":{"rendered":"https:\/\/www.my-equipment.com\/blog\/?p=44936"},"modified":"2026-08-11T12:24:16","modified_gmt":"2026-08-11T07:24:16","slug":"how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026","status":"publish","type":"post","link":"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/","title":{"rendered":"How Caterpillar&#8217;s Record $72B Backlog Is Making Used Equipment the Smarter Buy In 2026"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Caterpillar just posted the best quarter in its history. On August 4, the company reported second-quarter 2026 revenue of $20.54 billion, the first time it has ever crossed the $20 billion mark in a single quarter, with construction segment revenue up 35% and order backlog swelling to a record $72.1 billion. Behind the numbers is a story that matters to anyone looking for equipment right now: North American data center construction is taking up new-machine capacity faster than manufacturers can build it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For contractors and fleet managers of <\/span><b>used heavy equipment<\/b><span style=\"font-weight: 400;\">, that&#8217;s not just an interesting earnings headline. It&#8217;s a supply problem. And it&#8217;s one of the clearest signals yet that buying used isn&#8217;t a substitute plan anymore; it&#8217;s a legitimate strategy.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/#What_really_happened_in_Caterpillars_Q2\" >What really happened in Caterpillar&#8217;s Q2?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/#Why_Data_Centers_are_Fueling_Equipment_Demand\" >Why Data Centers are Fueling Equipment Demand<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/#What_does_a_record_backlog_mean_if_you_are_buying\" >What does a record backlog mean if you are buying?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/#The_case_for_buying_used_right_now\" >The case for buying used right now<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/#What_to_Look_for_When_Buying_Used_in_a_Tight-Supply_Market\" >What to Look for When Buying Used in a Tight-Supply Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/#The_Bottom_Line\" >The Bottom Line<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_really_happened_in_Caterpillars_Q2\"><\/span><strong>What really happened in Caterpillar&#8217;s Q2?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The topline figures are impressive enough: adjusted earnings of $8.17 per share compared to an estimate of $6.19 by the Street; revenue that exceeded estimates by over a billion dollars; and a backlog that increased by $9 billion in one quarter. However, the important thing to note is the source of the growth. Construction Industries revenue rose 35% and North America retail sales rose 50% alone. The driver, according to CEO Joe Creed is non-residential investment, or heavy infrastructure, critical power projects, and data centers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is not a Caterpillar thing. Deere&#8217;s construction and forestry unit posted a 29% increase in net sales in its latest quarter, while the company&#8217;s large agriculture business had a rough one, and the company highlighted shipment volumes and improved price realization in construction as the positive aspect of a mixed report. Two of the biggest equipment makers in the industry are sharing the same news, but from different perspectives: Equipment that pours foundations, moves earth and constructs power infrastructure is in short supply, and buyers are competing for it.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Data_Centers_are_Fueling_Equipment_Demand\"><\/span><strong>Why Data Centers are Fueling Equipment Demand<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The physical buildout of the AI that is taking place throughout the U.S. is enormous, as there is a tremendous amount of work that must be completed before the first server rack is online. It includes site grading, foundation work, utility trenching, power infrastructure, and access roads. The machinery used for that work is the same as is used on any other construction site: <\/span><a href=\"https:\/\/www.my-equipment.com\/wheel-excavators\"><span style=\"font-weight: 400;\">excavators<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.my-equipment.com\/wheel-loaders\"><span style=\"font-weight: 400;\">wheel loaders<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.my-equipment.com\/crawler-dozers\"><span style=\"font-weight: 400;\">dozers<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.my-equipment.com\/motor-graders\"><span style=\"font-weight: 400;\">motor graders<\/span><\/a><span style=\"font-weight: 400;\">. When a new hyperscale data center campus is approved, local contractors know they need to order more iron than they thought, and they need it faster than the normal order-to-delivery cycle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Include ongoing increases in industrial and infrastructure spending overall, and you have what Caterpillar&#8217;s backlog reveals: demand far outstrips the supply of new machines.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_does_a_record_backlog_mean_if_you_are_buying\"><\/span><strong>What does a record backlog mean if you are buying?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A $72 billion backlog is a manufacturer&#8217;s success story. However, on the other side of the table, a backlog generally translates to longer lead times. As the order books grow longer, dealers begin to limit new inventory, the list price rises (because the manufacturer is realizing a better price), and contractors who require a machine on a job site next month, instead of next quarter, begin looking elsewhere.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Historically, one of the best tailwinds for the used equipment market has been that. If new machines are scarce or expensive, well-maintained <\/span><b>used equipment <\/b><span style=\"font-weight: 400;\">is the solution for contractors who can&#8217;t afford to have a project sit idle waiting for a delivery date.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_case_for_buying_used_right_now\"><\/span><strong>The case for buying used right now<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">None of this is to say that new equipment is a bad purchase; for long-term core fleet requirements, it may still be worth it. However, in a tight supply cycle, <\/span><b>used equipment <\/b><span style=\"font-weight: 400;\">has three benefits for contractors who need to ramp up their staffing levels quickly for a data center project, infrastructure contract, or seasonal work that is more significant than they are in a normal supply cycle:<\/span><\/p>\n<p><b>Availability:<\/b><span style=\"font-weight: 400;\"> A used excavator or wheel loader on a dealer&#8217;s lot can be inspected, financed, and delivered to a job site in days, not months. That&#8217;s a fast pace in a market where new-unit lead times are getting longer and longer, and it&#8217;s a valuable currency.<\/span><\/p>\n<p><b>Price stability:<\/b><span style=\"font-weight: 400;\"> New equipment list prices rise as manufacturers&#8217; backlogs grow and tariff-driven cost pressures increase, whereas used equipment list prices tend to rise and fall more slowly and are more easily negotiated against other similar equipment listings and recent auction results.<\/span><\/p>\n<p><b>Proven performance data:<\/b><span style=\"font-weight: 400;\"> A machine that has been used and has service records provides a buyer with tangible proof of the machine&#8217;s ability to perform under load that a brand new machine cannot. That history is important for contractors who require reliability on a tight schedule.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That&#8217;s also why more fleet managers are turning to a hybrid model: They keep a base fleet of owned or financed equipment for day-to-day use, rent for short periods when demand peaks, and purchase <\/span><b>quality used equipment<\/b><span style=\"font-weight: 400;\"> for the jobs that require it and are time-sensitive when waiting for a new-unit order just isn&#8217;t an option. It&#8217;s a more disciplined approach to cash and capacity than simply buying new equipment for every requirement, and it&#8217;s becoming the norm for backlogs such as Caterpillar&#8217;s to remain high.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Look_for_When_Buying_Used_in_a_Tight-Supply_Market\"><\/span><b>What to Look for When Buying Used in a Tight-Supply Market<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When a supply shortage comes, it&#8217;s the time to be careful, not rushed. Here are a couple of points to consider before you make a decision:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Check hour meters and service records with the condition of the machine. In a demand-driven market, sellers may be tempted to rush to sell equipment without full disclosure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Specifically ask about the undercarriage and hydraulic history of dozers and excavators. These are the parts that wear out first and are the most expensive to replace.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Use recent auction prices, not dealer listings, to determine a realistic assessment of fair market value in the current market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Look for dealers who can provide maintenance records and after-sales service, as a machine that fails on a data center job site with a hard deadline is a much bigger issue than a delayed delivery.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Bottom_Line\"><\/span><b>The Bottom Line<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Caterpillar&#8217;s record quarter is good news for the industry, but it&#8217;s also a clear signal that new-equipment supply is going to stay tight for a while. Backlogs at $72 billion don&#8217;t clear overnight, and as long as data center and infrastructure spending keeps climbing, that pressure isn&#8217;t going away soon. For contractors who need equipment now, not on a manufacturer&#8217;s schedule, the used market is where the flexibility is.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">If you are comparing new against used equipment for an upcoming project, browse our current inventory of<\/span> <a href=\"https:\/\/www.my-equipment.com\/wheel-excavators\"><span style=\"font-weight: 400;\">used excavators<\/span><\/a><span style=\"font-weight: 400;\"> and<\/span> <a href=\"https:\/\/www.my-equipment.com\/wheel-loaders\"><span style=\"font-weight: 400;\">used wheel loaders<\/span><\/a><span style=\"font-weight: 400;\"> to see what&#8217;s available for immediate delivery, no backlog required.<\/span><\/p><\/blockquote>\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>Don\u2019t forget to subscribe to our YouTube channel for more equipment offers and insights into the industry. <\/strong><\/span><\/p>\n<p><center><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/Nni3IEZSDA8?si=CS9_zGu-m450s0I5\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/center><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Caterpillar just posted the best quarter in its history. On August 4, the company reported &hellip; <a href=\"https:\/\/www.my-equipment.com\/blog\/2026\/08\/how-caterpillars-record-72b-backlog-is-making-used-equipment-the-smarter-buy-in-2026\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;How Caterpillar&#8217;s Record $72B Backlog Is Making Used Equipment the Smarter Buy In 2026&#8221;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":44942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155,126],"tags":[5240,2308,5236,5237,5238,1125,5246,5245,5091,5241,3464,3331,5243,5244,3596,2777,5242,5115,5116,5239,110,2937,1923,38,2620],"class_list":["post-44936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feature","category-news","tag-cat-equipment-for-sale","tag-cat-machinery","tag-caterpillar-72b-backlog","tag-caterpillar-backlog-2026","tag-caterpillar-equipment-demand","tag-caterpillar-heavy-equipment","tag-construction-equipment-backlog","tag-construction-equipment-buying-strategy","tag-construction-equipment-prices","tag-construction-equipment-supply","tag-construction-equipment-trends-2026","tag-contractors-buying-used-equipment","tag-equipment-availability-2026","tag-fleet-expansion-2026","tag-heavy-equipment-market-trends","tag-heavy-equipment-supply-chain","tag-new-equipment-shortage","tag-used-cat-machines","tag-used-caterpillar-equipment","tag-used-construction-equipment-2026","tag-used-construction-machinery","tag-used-equipment-demand","tag-used-equipment-market","tag-used-heavy-equipment","tag-used-machinery-investment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Caterpillar&#039;s Record $72B Backlog Is Making Used Equipment the Smarter Buy In 2026<\/title>\n<meta name=\"description\" content=\"Caterpillar&#039;s record $72B backlog shows new equipment supply is tightening. 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