247Wallst·2026-02-19 13:22Core Viewpoint - Caterpillar, Honeywell, and Chevron are the top performers in the Dow Jones for 2026, each showing over 20% year-to-date gains, driven by strong earnings, strategic restructuring, and resilience in the energy market [1] Group 1: Company Performance - Caterpillar (CAT) has a year-to-date return of +31.6%, achieving record revenue of $19.13 billion in Q4 2025, surpassing estimates of $17.8 billion, with adjusted EPS of $5.16 [1] - Honeywell (HON) has a year-to-date return of +23.6%, with Q4 2025 revenue of $9.76 billion, slightly below the estimate of $9.87 billion, but adjusted EPS of $2.59 exceeded the consensus of $2.54 [1] - Chevron (CVX) has a year-to-date return of +21.8%, reporting Q4 2025 revenue of $46.87 billion, beating estimates of $46.7 billion, and adjusted EPS of $1.52 against a consensus of $1.44 [1] Group 2: Strategic Developments - Honeywell is restructuring into three public companies to unlock value, with orders increasing 23% organically and a backlog exceeding $37 billion [1] - Chevron's record production increased by 12% year-over-year, supported by the integration of the Hess acquisition, and it generated free cash flow of $5.5 billion, a 26% increase [1] - Caterpillar's Power and Energy segment surged 23% to $9.40 billion, driven by demand for power-generation equipment related to AI data centers [1] Group 3: Financial Metrics - Chevron's operating cash flow rose 24% to $10.8 billion, funding a 4% dividend increase to $1.78 per share and a $12.1 billion share repurchase program [1] - Honeywell's guidance for 2026 includes sales of $38.8 billion to $39.8 billion, adjusted EPS of $10.35 to $10.65, and free cash flow of $5.3 billion to $5.6 billion [1] - Caterpillar's share repurchases and dividends totaled $7.9 billion in 2025, supported by $11.74 billion in operating cash flow [1]