Power Demand Remains Robust Data-Center Customers Look to Sustain Growth, Caterpillar CEO Says -- Market Talk

Dow Jones

04/30

0940 ET - Caterpillar's robust backlog growth was driven by continued momentum in both power generation and oil and gas, CEO Joe Creed says on a call with analysts. "We anticipate growth in power generation for both reciprocating engines and turbines, driven by increasing energy demand to support data-center buildout related to cloud computing and generative AI," he says, adding that data-center customers are continuing to look for alternative power solutions to keep pace with their growth. At the same time, oil and gas is expected to see moderate growth this year, with reciprocating engine sales expected to increase, driven by strong demand in gas compression applications, Creed says. (connor.hart@wsj.com)

(END) Dow Jones Newswires

April 30, 2026 09:41 ET (13:41 GMT)

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