A forecast for moderate growth in the fourth quarter caused the market to react negatively.
The nearly 10 percent drop in the share price came despite profit and revenue coming in slightly above expectations for the third quarter.
Caterpillar's stock is under pressure amid growing concerns that the wave of large investments in AI infrastructure - which has boosted demand for the company's power plant equipment - is coming to an end.
Adjusted earnings in the third quarter were $7.20 per share, compared with expectations of $7.10 per share, according to Bloomberg.
Revenue of $20.7 billion during the quarter was marginally higher than the expected $20.6 billion.
