News & Info

April 25, 2017

Cat Financial Announces First-Quarter 2017 Results

Cat Financial reported first-quarter 2017 revenues of $662 million, an increase of $19 million, or 3 percent, compared with the first quarter of 2016. First-quarter 2017 profit was $115 million, a $15 million, or 15 percent, increase from the first quarter of 2016.

The increase in revenues was due to a $24 million favorable impact from higher average financing rates and a $12 million favorable impact from miscellaneous revenue items, partially offset by a $17 million unfavorable impact from lower average earning assets.

Profit before income taxes was $167 million for the first quarter of 2017, compared with $145 million for the first quarter of 2016. The increase was primarily due to a $13 million decrease in provision for credit losses and a $9 million favorable impact from miscellaneous revenue items.

Read the full press release »


January 26, 2017

Cat Financial Announces 2016 Year-End Results

Cat Financial reported revenues of $2.60 billion for 2016, a decrease of $78 million, or 3 percent, compared with 2015. Profit was $384 million, a $76 million, or 17 percent, decrease from 2015.

The decrease in revenues was primarily due to a $66 million unfavorable impact from lower average earning assets and a $43 million unfavorable impact from returned or repossessed equipment, partially offset by a $33 million favorable impact from higher average financing rates.

Profit before income taxes was $561 million for 2016, compared with $619 million for 2015. The decrease was primarily due to a $43 million unfavorable impact from returned or repossessed equipment and a $30 million unfavorable impact from lower average earning assets, partially offset by a $24 million decrease in general, operating and administrative expenses.

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October 25, 2016

Cat Financial Announces Third-Quarter 2016 Results

Cat Financial reported third-quarter 2016 revenues of $651 million, a decrease of $2 million, compared with the third quarter of 2015. Third-quarter 2016 profit was $97 million, a $12 million, or 11 percent, decrease from the third quarter of 2015.

The slight decrease in revenues includes a $10 million unfavorable impact from returned or repossessed equipment and a $9 million unfavorable impact from lower average earning assets, offset by a $19 million favorable impact from higher average financing rates.

Profit before income taxes was $146 million for the third quarter of 2016, compared with $153 million for the third quarter of 2015. The decrease was primarily due to a $10 million unfavorable impact from returned or repossessed equipment and a $7 million increase in provision for credit losses, partially offset by a $7 million decrease in general, operating and administrative expenses.

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September 7, 2016

Cat Financial Commences Exchange Offers for Outstanding Existing Medium-Term Notes Due 2017, April 2018 and October 2018 from Eligible Holders

NASHVILLE, TN – Caterpillar Financial Services Corporation, a wholly owned subsidiary of Caterpillar Inc. (NYSE: CAT) (the “Company”), announced today the commencement of offers to exchange its outstanding medium-term notes as set forth in the table below (collectively, the “Existing Notes”) for a combination of a new issue of the Company’s Medium-Term Notes, Series H due 2021 (the “New Notes”) and cash (the “Exchange Offers”).

The purpose of the Exchange Offers is to reduce the weighted average cost of debt for the Company by refinancing Existing Notes with New Notes at a lower coupon than the respective coupons applicable to all series of the Existing Notes and extend the maturity of the debt obligations associated with the Existing Notes during a time of favorable market conditions.

The Exchange Offers are being conducted by the Company upon the terms and subject to the conditions set forth in a confidential offering memorandum, dated September 7, 2016 (the “Confidential Offering Memorandum”), and the related letter of transmittal (the “Letter of Transmittal”).

The Exchange Offers are only being made to, and copies of the offering documents will only be made available to, a holder of Existing Notes that has certified its status as (1) a person in the United States who is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or (2) a person outside the United States who is not a “U.S. person,” as that term is defined in Rule 902 under the Securities Act, and, in each case, if resident and/or located in any member state of which has implemented provisions of the EU Prospectus Directive (each, a “Relevant Member State”), who has also certified that it is a “qualified investor” as defined in Article 2(1)(e) of the EU Prospectus Directive (each, an “Eligible Holder”).  “EU Prospectus Directive” means the European Union’s Directive 2003/71/EC (as amended, including pursuant to Directive 2010/73/EU) as implemented in the Relevant Member State. The Confidential Offering Memorandum is not a prospectus for the purposes of the EU Prospectus Directive, and the Exchange Offers will only be made pursuant to an exemption under the EU Prospectus Directive from the requirement to produce a prospectus in connection with offers of the New Notes.

Read the full press release on www.caterpillar.com »


April 22, 2016

Cat Financial Announces First-Quarter 2016 Results

Cat Financial reported first-quarter 2016 revenues of $643 million, a decrease of $46 million, or 7 percent, compared with the first quarter of 2015. First-quarter 2016 profit was $100 million, a $33 million, or 25 percent, decrease from the first quarter of 2015.

The decrease in revenues was primarily due to a $23 million unfavorable impact from lower average earning assets and a $13 million unfavorable impact from lower average financing rates.

Profit before income taxes was $145 million for the first quarter of 2016, compared with $187 million for the first quarter of 2015. The decrease was primarily due to a $17 million decrease in net yield on average earning assets reflecting geographic mix changes and currency impacts, an $11 million increase in provision for credit losses and a $10 million unfavorable impact from lower average earning assets.

The provision for income taxes reflects an estimated annual tax rate of 30 percent in the first quarter of 2016, compared with 28 percent in the first quarter of 2015. The increase in the estimated annual tax rate is primarily due to changes in the geographic mix of profits.

Read the full press release »


March 21, 2016

Changes to Online Account Management

Big changes are here with our online account management system, including a new mobile friendly design and easier contract management.

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January 28, 2016

Cat Financial Announces 2015 Year-End Results

Full-Year 2015 vs. Full-Year 2014

Cat Financial reported revenues of $2.67 billion for 2015, a decrease of $212 million, or 7 percent, compared with 2014. Profit after tax was $460 million, a $75 million, or 14 percent, decrease from 2014.

The decrease in revenues was primarily due to a $117 million unfavorable impact from lower average earning assets and an $80 million unfavorable impact from lower average financing rates.

Profit before income taxes was $619 million for 2015, compared with $753 million for 2014. The decrease was primarily due to a $68 million decrease in net yield on average earning assets reflecting geographic mix changes and currency impacts and a $55 million unfavorable impact from lower average earning assets.

The provision for income taxes reflects an annual tax rate of 26 percent for 2015, compared with 28 percent for 2014. The decrease in the annual tax rate is primarily due to foreign tax credits and changes in the geographic mix of profits.

Read the full press release »


October 26, 2015

Cat Financial President named to Nashville Business Journal Power 100 List

From its offices on West End Avenue, Caterpillar Financial provides financing for billions of dollars worth of construction equipment around the world. Kent Adams leads the construction giant's lending arm, a position he's held since 2005. Under Adam's leadership, the firm has rebounded from the doldrums of the recession. In 2014, the company posted before-tax profits of more than $750 million.

But Adam's influence in Nashville business goes far beyond leading a company that controls $35 billion in assets. He's also the current chairman of the Nashville Area Chamber of Commerce. It's a powerful position that gives Adams latitude over the direction the region's largest business group decides to take. Additionally, Adams sits on the Nashville board of directors for the Federal Reserve Bank of Atlanta.

To view the full list of Nashville Business Journal's Power 100, visit the Nashville BizBlog.

Source: Nashville Business Journal 2015

Kent Adams, President and CEO
Caterpillar Financial Services Corporation

October 1, 2015

The New CatFinancial.com

Learn more about the changes we have made to our website to help you find the right finance and extended protection solutions for your business.

Learn More »