Caterpillar (CAT) Misses Q1 EPS by 9c, Withdraws Outlook

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Go back to Caterpillar (CAT) Misses Q1 EPS by 9c, Withdraws Outlook

Cat Financial Announces First-Quarter 2020 Results

April 28, 2020 6:31 AM EDT

NASHVILLE, Tenn., April 28, 2020 /PRNewswire/ -- Cat Financial reported first-quarter 2020 revenues of $695 million, a decrease of $41 million, or 6%, compared with the first quarter of 2019. First-quarter 2020 profit was $90 million, an $8 million, or 8%, decrease from the first quarter of 2019.

The decrease in revenues was primarily due to a $29 million unfavorable impact from lower average earning assets and a $5 million unfavorable impact due to the February 2019 termination of a committed credit facility with Caterpillar.

First-quarter 2020 profit before income taxes was $127 million, a $15 million, or 11%, decrease from the first quarter of 2019. The decrease was primarily due to a $12 million... More