News & Info

News & Info

October 19, 2018

Cat Financial supports South African business development through establishment of office in Johannesburg

Johannesburg, South Africa. – Cat Financial, a wholly owned subsidiary of Caterpillar Inc., recently established its newest legal entity to support customers in South Africa. The company today celebrated the opening of its finance office in Johannesburg..

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August 13, 2018

Citi Retail Services Signs Agreement with Caterpillar Financial to Provide Commercial and Consumer Card Services

Chicago, IL — Citi Retail Services today announced a long-term agreement with Caterpillar Financial Services Corporation (Cat Financial) to provide a private label credit card program in the United States and Canada. Cat Financial will jointly manage the overall program and continue to provide guidance on the product offerings while transitioning the origination and portfolio management responsibilities to Citi.

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January 25, 2018

Cat Financial Announces 2017 Year-End Results

Cat Financial reported revenues of $2.69 billion for 2017, an increase of $94 million, or 4 percent, compared with 2016. Profit was $586 million, a $202 million, or 53 percent, increase from 2016.

The increase in revenues was primarily due to a $61 million favorable impact from higher average financing rates and a $48 million favorable impact from lending activity with Caterpillar, partially offset by a $29 million unfavorable impact from lower average earning assets.

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October 24, 2017

Cat Financial Announces Third-Quarter 2017 Results

Cat Financial reported third-quarter 2017 revenues of $673 million, an increase of $22 million, or 3 percent, compared with the third quarter of 2016. Third-quarter 2017 profit was $86 million, an $11 million, or 11 percent, decrease from the third quarter of 2016.

The increase in revenues was primarily due to a $15 million favorable impact from higher average financing rates and a $14 million favorable impact from lending activity with Caterpillar, partially offset by a $6 million unfavorable impact from lower average earning assets.

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July 25, 2017

Cat Financial Announces Second-Quarter 2017 Results

Cat Financial reported second-quarter 2017 revenues of $676 million, an increase of $17 million, or 3 percent, compared with the second quarter of 2016. Second-quarter 2017 profit was $114 million, a $12 million, or 12 percent, increase from the second quarter of 2016.

The increase in revenues was due to a $14 million favorable impact from lending activity with Caterpillar, a $13 million favorable impact from higher average financing rates and an $8 million favorable impact from returned or repossessed equipment.These favorable impacts were partially offset by an $18 million unfavorable impact from lower average earning assets.

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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.

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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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