Caterpillar shares climbed 12% after posting stronger-than-expected third-quarter earnings, supported by resilient construction and mining equipment demand and improved infrastructure-spending momentum. Management raised full-year guidance and emphasized backlog strength, regional diversification, and pricing discipline. Analysts said the results highlight sustained capital expenditure cycles and robust industrial demand despite elevated borrowing costs. The company’s upbeat outlook reinforced investor confidence in global manufacturing recovery and infrastructure expansion, positioning Caterpillar as a key beneficiary of long-term capital investment trends and economic reindustrialization themes worldwide.