Caterpillar (CAT) Tops Q3 EPS by 10c, Revs Beat
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Cat Financial Announces Third-Quarter 2020 Results
October 27, 2020 6:31 AM EDTNASHVILLE, Tenn., Oct. 27, 2020 /PRNewswire/ -- Cat Financial reported third-quarter 2020 revenues of $598 million, a decrease of $150 million, or 20%, compared with the third quarter of 2019. Third-quarter 2020 profit was $48 million, an $81 million, or 63%, decrease from the third quarter of 2019.
The decrease in revenues was primarily due to a $76 million unfavorable impact from lower average financing rates and a $40 million unfavorable impact from lower average earning assets.Â
Third-quarter 2020 profit before income taxes was $96 million, an $88 million, or 48%, decrease from the third quarter of 2019. The decrease was primarily due to a $50 million increase in provision for credit... More
