Caterpillar (CAT) Tops Q1 EPS by 93c

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Cat Financial Announces First-Quarter 2021 Results

April 29, 2021 6:31 AM EDT

NASHVILLE, Tenn., April 29, 2021 /PRNewswire/ -- Cat Financial reported first-quarter 2021 revenues of $639 million, a decrease of $56 million, or 8%, compared with the first quarter of 2020. First-quarter 2021 profit was $140 million, a $50 million, or 56%, increase from the first quarter of 2020.

The decrease in revenues was primarily due to a $40 million unfavorable impact from lower average financing rates and a $19 million unfavorable impact from lower average earning assets.

First-quarter 2021 profit before income taxes was $196 million, a $69 million, or 54%, increase from the first quarter of 2020. The increase was primarily due to a $71 million decrease in provision for credit losses,... More