UBS Raises Price Target on Caterpillar (CAT) to $76 Following 1Q Results
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April 22, 2016 7:31 AM EDT
NASHVILLE, Tenn., April 22, 2016 /PRNewswire/ --Â 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 $17 million... More
April 22, 2016 7:30 AM EDT
PEORIA, Ill., April 22, 2016 /PRNewswire/ --Â
First Quarter
($ in billions except profit per share)
2015
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