Construction industries (the bulldozers, excavators, and loaders most investors picture when they hear the name) produced $8.3 billion of sales. In other words, Caterpillar now sells nearly as much power equipment as construction equipment. And on the profit line, the power business has arguably already pulled ahead. Power generation sales were about $2.4 billion in the second quarter of 2025 and $2.8 billion in this year's first quarter. But the power business now earns a higher margin than the equipment business -- and this quarter, more total profit, too.