Cat Financial Q4 Profit Rises; Revenues Up 16%

(RTTNews) - Cat Financial reported fourth-quarter profit of $166 million, an increase of 41% from last year. Profit before income taxes of $181 million, an increase of 20% from a year ago. The company said the increase was mainly due to a $21 million favorable impact from a lower provision for credit losses, a $14 million favorable impact from higher average earning assets and a $12 million increase in net yield on average earning assets.

Cat Financial reported fourth-quarter revenues of $841 million, an increase of 16% from last year. The company said the increase in revenues was primarily due to an $89 million favorable impact from higher average financing rates and a $31 million favorable impact from higher average earning assets.

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