Cat Financial Q4 Profit Down - Quick Facts

(RTTNews) - Cat Financial reported that its fourth-quarter 2022 profit was $118 million, a decrease of $4 million, or 3% from the fourth quarter of 2021.

But quarterly revenues were $724 million, an increase of $81 million, or 13% from the previous year. The increase in revenues was primarily due to a $97 million favorable impact from higher average financing rates, partially offset by a $14 million unfavorable impact from lower average earning assets.

Retail new business volume was $2.76 billion, a decrease of $666 million, or 19%, compared with $3.42 billion in the fourth quarter of 2021. The decrease was primarily driven by lower volume in the North America, EAME, and Asia/Pacific segments.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com