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Cat Financial Third Quarter Up Slightly
NASHVILLE- Cat Financial reported third quarter revenues of $678 million, or 1 percent increase comapred to last year. Third quarter profit after tax was $109 million or 17 percent increase over last year. The increase in revenues the company said were primarily due to a $63 million favorable impact from higher average earning assets, partially offset by a $44 million unfavorable impact from lower average financing rates on new and existing finance receivables and operating leases and a $9 million unfavorable impact from gains/losses on returned or repossessed equipment. The company says Cat Financial's business continues to perform well.