{"id":520611,"date":"2021-07-30T06:34:08","date_gmt":"2021-07-30T10:34:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cat-financial-announces-second-quarter-2021-results\/"},"modified":"2021-07-30T06:34:08","modified_gmt":"2021-07-30T10:34:08","slug":"cat-financial-announces-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cat-financial-announces-second-quarter-2021-results\/","title":{"rendered":"Cat Financial Announces Second-Quarter 2021 Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NASHVILLE, Tenn.<\/span>, <span class=\"xn-chron\">July 30, 2021<\/span> \/PRNewswire\/ &#8212; Cat Financial reported second-quarter 2021 revenues of <span class=\"xn-money\">$646 million<\/span>, an increase of <span class=\"xn-money\">$5 million<\/span>, or 1%, compared with the second quarter of 2020. Second-quarter 2021 profit was <span class=\"xn-money\">$142 million<\/span>, an increase of <span class=\"xn-money\">$83 million<\/span>, or 141%, compared with the second quarter of 2020.<\/p>\n<p>The increase in revenues was primarily due to a <span class=\"xn-money\">$17 million<\/span> favorable impact from returned or repossessed equipment and a <span class=\"xn-money\">$7 million<\/span> favorable impact from higher average earning assets, partially offset by an <span class=\"xn-money\">$18 million<\/span> unfavorable impact from lower average financing rates.<\/p>\n<p>Second-quarter 2021 profit before income taxes was <span class=\"xn-money\">$189 million<\/span>, an increase of <span class=\"xn-money\">$100 million<\/span>, or 112%, compared with the second quarter of 2020. The increase was primarily due to a <span class=\"xn-money\">$75 million<\/span> decrease in provision for credit losses, a <span class=\"xn-money\">$25 million<\/span> increase in net yield on average earning assets and a <span class=\"xn-money\">$17 million<\/span> favorable impact from returned or repossessed equipment. These favorable impacts were partially offset by a <span class=\"xn-money\">$31 million<\/span> increase in general, operating and administrative expenses, mostly due to higher short-term incentive compensation expense.<\/p>\n<p>The provision for income taxes reflected an estimated annual tax rate of 25% in the second quarter of 2021, compared with 27% in the second quarter of 2020. <\/p>\n<p>During the second quarter of 2021, retail new business volume was <span class=\"xn-money\">$3.52 billion<\/span>, an increase of <span class=\"xn-money\">$786 million<\/span>, or 29%, from the second quarter of 2020. The increase was mainly driven by higher volume in <span class=\"xn-location\">North America<\/span>, EAME and Mining, partially offset by a decrease in Caterpillar Power Finance.<\/p>\n<p>At the end of the second quarter of 2021, past dues were 2.58%, compared with 3.74% at the end of the second quarter of 2020. Past dues decreased across all portfolio segments as global markets generally improved. Write-offs, net of recoveries, were <span class=\"xn-money\">$54 million<\/span> for the second quarter of 2021, compared with <span class=\"xn-money\">$30 million<\/span> for the second quarter of 2020. As of <span class=\"xn-chron\">June 30, 2021<\/span>, the allowance for credit losses totaled <span class=\"xn-money\">$402 million<\/span>, or 1.46% of finance receivables, compared with <span class=\"xn-money\">$441 million<\/span>, or 1.64% of finance receivables, at <span class=\"xn-chron\">March 31<\/span>, 2021.\u00a0 The allowance for credit losses at year-end 2020 was <span class=\"xn-money\">$479 million<\/span>, or 1.77% of finance receivables. <\/p>\n<p>&#8220;We were pleased with the continued improvement in portfolio health and strong performance of our business during the second quarter, reflecting good operational execution by the global Cat Financial team,&#8221; said <span class=\"xn-person\">Dave Walton<\/span>, president of Cat Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. &#8220;Our team remains focused on executing the strategy to help Caterpillar customers and dealers succeed through financial services solutions.&#8221;<\/p>\n<p>\n        <b>About Cat Financial<br \/><\/b>Celebrating 40 years in 2021, Cat Financial is a subsidiary of Caterpillar, the world&#8217;s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Cat Financial provides a wide range of financing solutions\u00a0to customers and Cat\u00ae dealers for machines, engines, Solar\u00ae turbines,<b>\u00a0<\/b>genuine Cat parts and services. Headquartered\u00a0in <span class=\"xn-location\">Nashville, Tennessee<\/span>, Cat Financial serves customers globally with offices and subsidiaries located throughout North and <span class=\"xn-location\">South America<\/span>, <span class=\"xn-location\">Asia<\/span>, <span class=\"xn-location\">Australia<\/span>, <span class=\"xn-location\">Europe<\/span>, <span class=\"xn-location\">Africa<\/span> and the <span class=\"xn-location\">Middle East<\/span>. Visit cat.com to learn more about Cat Financial. <\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td colspan=\"11\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>STATISTICAL HIGHLIGHTS:<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>SECOND-QUARTER 2021 VS. SECOND-QUARTER 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>(ENDED JUNE 30, EXCEPT TOTAL ASSETS)<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Millions of dollars)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHANGE<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">646<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">641<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit Before Income Taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">189<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">112%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit (excluding profit attributable to noncontrolling interests)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">142<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">59<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">141%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Retail New Business Volume<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,524<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,738<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Assets at June 30 and December 31, respectively<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,541<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,991<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>SIX-MONTHS 2021 VS. SIX-MONTHS 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>(ENDED JUNE 30)<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Millions of dollars)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHANGE<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,285<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,336<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntar prnpl6 prnsbl1 prnpr4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4)%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit Before Income Taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">385<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Profit (excluding profit attributable to noncontrolling interests)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">282<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">149<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Retail New Business Volume<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,333<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,050<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <u>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;will be,&#8221; &#8220;will,&#8221; &#8220;would,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;intend,&#8221; &#8220;could,&#8221; &#8220;should&#8221; or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.<\/p>\n<p>Cat Financial&#8217;s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) disruptions or volatility in global financial markets limiting our sources of liquidity; (ii) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (iii) changes in interest rates, currency fluctuations or market liquidity conditions; (iv) an increase in delinquencies, repossessions or net losses of our customers; (v) residual values of leased equipment; (vi) our compliance with financial and other restrictive covenants in debt agreements; (vii) government monetary or fiscal policies; (viii) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (ix) demand for Caterpillar products; (x) marketing, operational or administrative support received from Caterpillar; (xi) our ability to develop, produce and market quality products that meet our customers&#8217; needs; (xii) information technology security threats and computer crime; (xiii) alleged or actual violations of trade or anti-corruption laws and regulations; (xiv) new regulations or changes in financial services regulations; (xv) additional tax expense or exposure; (xvi) changes in accounting guidance; (xvii) the ongoing global coronavirus pandemic; and (xviii) other factors described in more detail in Cat Financial&#8217;s Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG59006&amp;sd=2021-07-30\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cat-financial-announces-second-quarter-2021-results-301345026.html\">https:\/\/www.prnewswire.com\/news-releases\/cat-financial-announces-second-quarter-2021-results-301345026.html<\/a><\/p>\n<p>SOURCE  Cat Financial<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CG59006&amp;Transmission_Id=202107300631PR_NEWS_USPR_____CG59006&amp;DateId=20210730\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NASHVILLE, Tenn., July 30, 2021 \/PRNewswire\/ &#8212; Cat Financial reported second-quarter 2021 revenues of $646 million, an increase of $5 million, or 1%, compared with the second quarter of 2020. Second-quarter 2021 profit was $142 million, an increase of $83 million, or 141%, compared with the second quarter of 2020. The increase in revenues was primarily due to a $17 million favorable impact from returned or repossessed equipment and a $7 million favorable impact from higher average earning assets, partially offset by an $18 million unfavorable impact from lower average financing rates. Second-quarter 2021 profit before income taxes was $189 million, an increase of $100 million, or 112%, compared with the second quarter of 2020. The increase was &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cat-financial-announces-second-quarter-2021-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cat Financial Announces Second-Quarter 2021 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-520611","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cat Financial Announces Second-Quarter 2021 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cat-financial-announces-second-quarter-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cat Financial Announces Second-Quarter 2021 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NASHVILLE, Tenn., July 30, 2021 \/PRNewswire\/ &#8212; Cat Financial reported second-quarter 2021 revenues of $646 million, an increase of $5 million, or 1%, compared with the second quarter of 2020. Second-quarter 2021 profit was $142 million, an increase of $83 million, or 141%, compared with the second quarter of 2020. The increase in revenues was primarily due to a $17 million favorable impact from returned or repossessed equipment and a $7 million favorable impact from higher average earning assets, partially offset by an $18 million unfavorable impact from lower average financing rates. Second-quarter 2021 profit before income taxes was $189 million, an increase of $100 million, or 112%, compared with the second quarter of 2020. 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