July 27, 2016 1:08 AM ET

Consumer Finance

Company Overview of Caterpillar Financial Services Corporation

Company Overview

Caterpillar Financial Services Corporation, together with its subsidiaries, provides retail and wholesale financing alternatives for Caterpillar Inc.’s (Caterpillar) products to customers and dealers worldwide. Its retail financing includes financing of Caterpillar equipment, machinery, and engines. The company also provides financing for vehicles, power generation facilities, and marine vessels primarily for Caterpillar products. In addition, it provides wholesale financing to Caterpillar dealers; and purchase short-term receivables from Caterpillar. The company was founded in 1981 and is headquartered in Nashville, Tennessee. Caterpillar Financial Services Corporation operates as a subsidi...

2120 West End Avenue

Nashville, TN 37203

United States

Founded in 1981

1,857 Employees

Phone:

615-341-1000

Key Executives for Caterpillar Financial Services Corporation

Chief Executive Officer, President and Director
Age: 61
Chief Financial Officer and Executive Vice President
Group President of Caterpillar Inc
Age: 65
President of Cat Financial Insurance Services
Age: 55
Principal Accounting Officer and Controller
Compensation as of Fiscal Year 2016.

Caterpillar Financial Services Corporation Key Developments

Cat Financial Reports Financial Results for the First Quarter Ended March 31, 2016

Cat Financial reported financial results for the first quarter ended March 31, 2016. For the quarter the company, reported revenues of $643 million, a decrease of $46 million, or 7%, compared with the first quarter of 2015. Profit was $100 million, a $33 million, or 25% decrease from the first quarter of 2015. The decrease in Revenue was primarily due to a $23 million unfavorable impact from lower average earning assets and a $13 million unfavorable impact from lower average financing rates. Profit before income taxes was $145 million compared with $187 million for the first quarter of 2015. The decrease was primarily due to a $17 million decrease in net yield on average earning assets reflecting geographic mix changes and currency impacts, an $11 million increase in provision for credit losses and a $10 million unfavorable impact from lower average earning assets.

Caterpillar Financial Services Corporation Reports Earnings Results for the First Quarter Ended March 31, 2016

Caterpillar Financial Services Corporation reported earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues of $643 million, a decrease of $46 million, or 7%, compared with the first quarter of 2015. First-quarter 2016 profit was $100 million, a $33 million, or 25%, decrease from the first quarter of 2015. The decrease in Revenue was primarily due to a $23 million unfavorable impact from lower average earning assets and a $13 million unfavorable impact from lower average financing rates. Profit before income taxes was $145 million for the first quarter of 2016, compared with $187 million for the first quarter of 2015. The decrease was primarily due to a $17 million decrease in net yield on average earning assets reflecting geographic mix changes and currency impacts, an $11 million increase in provision for credit losses and a $10 million unfavorable impact from lower average earning assets.

Caterpillar Financial Services Corporation Announces Issuance of Medium-Term Notes

On February 25, 2016, Caterpillar Financial Services Corporation announced issuance of $300,000,000 aggregate principal amount of its Medium-Term Notes, Series H, Floating Rate Notes due 2018 (the Floating Rate Notes) and $450,000,000 aggregate principal amount of its Medium-Term Notes, Series H, 1.500% Notes due 2018 (the 2018 Notes and, together with the Floating Rate Notes, the Notes).

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
January 7, 2016
D R Wittwer, LP
 

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