Caterpillar (CAT) Misses Q3 EPS by 22c; Lowers Outlook

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Cat Financial Announces Third-Quarter 2019 Results

October 23, 2019 6:31 AM EDT

NASHVILLE, Tenn., Oct. 23, 2019 /PRNewswire/ -- Cat Financial reported third-quarter 2019 revenues of $748 million, an increase of $13 million, or 2%, compared with the third quarter of 2018. Third-quarter 2019 profit was $129 million, a $4 million, or 3%, increase from the third quarter of 2018.

The increase in revenues was primarily due to a $29 million favorable impact from higher average financing rates, partially offset by a $10 million unfavorable impact due to the termination of a committed credit facility with Caterpillar.

Third-quarter 2019 profit before income taxes was $184 million, a $21 million, or 13%, increase from the third quarter of 2018. The increase was primarily due... More