Cat Financial Q1 revenue $853M (+11% YoY); profit $169M (+13%)

CATERPILLAR FINANCIAL SERVICES CORP

Revenue $853M, up 11% from $768M; profit $169M, up 13% from $149M.
Pre-tax profit $229M (+12%) on higher financing rates, earning assets, and $33M insurance settlement.
Retail new business volume $2.74B (+11% YoY) led by North America; past dues 1.78% (down from 2.00%).
Write-offs net of recoveries $55M vs $10M; allowance $281M (1.01% of receivables, down from 1.18%).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CATERPILLAR FINANCIAL SERVICES CORP reported first quarter ended March 31, 2024 results: revenue $853 million, net income $169 million.

Period: first quarter ended March 31, 2024
Revenue: $853 million
Net income: $169 million
Result: reported results

Exact text from the filing

Cat Financial reported first-quarter 2024 revenues of $853 million, an increase of $85 million, or 11%, compared with $768 million in the first quarter of 2023.

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Source: SEC EDGAR

accession 0000764764-24-000016

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