Cat Financial Reports First-Quarter 2026 Results

Cat Financial (CAT) reported Q1 2026 results: revenues $947 million (+10% YoY) and profit $144 million (+11% YoY).

Rhea-AI Summary

Cat Financial (CAT) reported Q1 2026 results: revenues $947 million (+10% YoY) and profit $144 million (+11% YoY). Profit before taxes was $195 million (+12%). Retail new business volume rose to $3.19 billion (+8%). Past dues improved to 1.39%; allowance for credit losses was $283 million (0.86%).

Write-offs net of recoveries increased to $29 million. Estimated annual tax rate for Q1 2026 was 26%.

Positive

• Revenues +10% YoY to $947 million
• Profit +11% YoY to $144 million
• Profit before taxes +12% YoY to $195 million
• Retail new business volume +8% YoY to $3.19 billion
• Past dues improved to 1.39% from 1.58%

Negative

• Write-offs net of recoveries increased to $29 million from $20 million
• General, operating and administrative expenses rose by $22 million

Argus Apr 30 session

+9.88% close to close Open Argus

Details

News Market Reaction – CAT

On Apr 30, the day this news came out, CAT closed 9.88% above the previous close.

Data tracked by StockTitan Argus for the Apr 30 session.

Key Figures

Q1 2026 revenues: $947 million Q1 2026 profit: $144 million Profit before income taxes: $195 million +5 more

Q1 2026 revenues

$947 million

First quarter 2026 vs. $860 million in Q1 2025 (10% increase)

Q1 2026 profit

$144 million

First quarter 2026 vs. $130 million in Q1 2025 (11% increase)

Profit before income taxes

$195 million

First quarter 2026 vs. $174 million in Q1 2025 (12% increase)

Retail new business volume

$3.19 billion

Q1 2026 vs. $2.96 billion in Q1 2025 (8% increase)

Estimated tax rate

26%

Q1 2026 provision vs. 25% in Q1 2025

Past dues ratio

1.39%

End of Q1 2026 vs. 1.58% at end of Q1 2025

Net write-offs

$29 million

First quarter 2026 vs. $20 million in Q1 2025

Allowance for credit losses

$283 million (0.86%)

As of March 31, 2026 vs. $284 million (0.86%) at Dec. 31, 2025

Historical Context

5 past events · Latest: Apr 16

5 events

1. Apr 16

   Earnings date notice

   24h Move

   +0.3%

   Scheduled timing and access details for Q1 2026 earnings release.

2. Apr 08

   CFO transition

   24h Move

   +2.0%

   Planned CFO retirement with experienced internal successor appointed.

3. Apr 08

   Dividend update

   24h Move

   +6.5%

   Maintained $1.51 quarterly dividend and highlighted long dividend track record.

4. Apr 01

   Guidance & PPA

   24h Move

   +3.1%

   Long-term power agreement and updated financial guidance for operations.

5. Mar 20

   Industry commentary

   24h Move

   -1.1%

   Inclusion in broader article on firms tied to U.S. rare-earth supply.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

profit before income taxes, retail new business volume, past dues, allowance for credit losses, +2 more

6 terms

profit before income taxes financial

"First-quarter 2026 profit before income taxes was $195 million, an increase of $21 million..."

Profit before income taxes is a company’s earnings after paying all operating costs, interest and other expenses but before the government’s tax bill is taken out. It shows the cash a business generates from its activities before taxes reduce the bottom line, so investors use it like a raw score to compare performance across companies and periods, much like checking a runner’s time before adjusting for race conditions.

retail new business volume financial

"During the first quarter of 2026, retail new business volume was $3.19 billion..."

Retail new business volume is the total value of new sales or accounts won from individual customers over a set period — for example new insurance premiums, bank deposits, or investment amounts brought in by retail clients. It matters to investors because it shows how well a company is attracting fresh customers and generating future revenue; like counting new shoppers entering a store, rising volume signals growth and momentum while falling volume warns of weakening demand.

past dues financial

"At the end of the first quarter of 2026, past dues at Cat Financial were 1.39%..."

Amounts labeled as past dues are payments that were scheduled but not made by their due date, such as missed loan installments, overdue invoices, or unpaid bills. For investors, rising past dues are a yellow flag because they signal weaker cash collection, higher credit risk or potential losses for a company or borrower—similar to noticing many overdue library books when judging whether someone reliably returns items on time.

allowance for credit losses financial

"Cat Financial's allowance for credit losses totaled $283 million, or 0.86% of finance receivables..."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

finance receivables financial

"allowance for credit losses totaled $283 million, or 0.86% of finance receivables..."

Finance receivables are amounts a company expects to collect from customers or borrowers after providing goods, services, leases, or loans on credit—essentially the IOUs recorded on its balance sheet. They matter to investors because they represent future cash inflows but carry the risk of nonpayment; rising receivables can signal growing sales or cash strain, and changes in their quality affect a company’s liquidity, profit forecasts, and overall financial health.

forward-looking statements regulatory

"FORWARD-LOOKING STATEMENTSCertain statements in this press release relate to future events..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NASHVILLE, Tenn., April 30, 2026 /PRNewswire/ -- Cat Financial reported first-quarter 2026 revenues of $947 million, an increase of $87 million, or 10%, compared with $860 million in the first quarter of 2025. The increase in revenues was primarily due to a favorable impact from higher average earning assets. First-quarter 2026 profit was $144 million, an increase of $14 million, or 11%, compared with $130 million profit in the first quarter of 2025.

First-quarter 2026 profit before income taxes was $195 million, an increase of $21 million, or 12%, compared with $174 million profit in the first quarter of 2025. The increase was mainly driven by a favorable impact from higher average earning assets of $40 million, partially offset by higher general, operating and administrative expenses of $22 million.

The provision for income taxes reflected an estimated annual tax rate of 26% for the first quarter of 2026 compared with 25% for the first quarter of 2025.

During the first quarter of 2026, retail new business volume was $3.19 billion, an increase of $226 million, or 8%, compared with $2.96 billion in the first quarter of 2025. The increase was primarily driven by higher volume in Mining, North America, Asia Pacific and Power.

At the end of the first quarter of 2026, past dues at Cat Financial were 1.39%, compared with 1.58% at the end of the first quarter of 2025. Write-offs, net of recoveries, were $29 million for the first quarter of 2026, compared with $20 million for the first quarter of 2025. As of March 31, 2026, Cat Financial's allowance for credit losses totaled $283 million, or 0.86% of finance receivables, compared with $284 million, or 0.86% of finance receivables at December 31, 2025.

"The Cat Financial team's focus on supporting Caterpillar customers and dealers with financial services solutions continues to deliver solid operational results," said Dave Walton, President of Cat Financial and Senior Vice President with responsibility for the Financial Products Division of Caterpillar Inc. "Retail new business volume was strong, and our portfolio continues to perform well, with past dues remaining at historically low levels."

About Cat Financial

Cat Financial is a subsidiary of Caterpillar, the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Cat Financial provides a wide range of financing solutions to customers and Cat® dealers for machines, engines, Solar® turbines, genuine Cat parts and services. Headquartered in Nashville, Tennessee, Cat Financial serves customers globally with offices and subsidiaries located throughout North and South America, Asia, Australia, Europe and Africa. Visit cat.com to learn more about Cat Financial.

STATISTICAL HIGHLIGHTS: FIRST-QUARTER 2026 VS. FIRST-QUARTER 2025 (ENDED MARCH 31, EXCEPT TOTAL ASSETS) (Millions of dollars)
	2026		2025		CHANGE
Revenues	$       947		$       860		10 %
Profit Before Income Taxes	$       195		$       174		12 %
Profit (excluding profit attributable to noncontrolling interests)	$       144		$       130		11 %
Retail New Business Volume	$    3,190		$    2,964		8 %
Total Assets at March 31, and December 31, respectively	$  38,163		$  38,313		— %

FORWARD-LOOKING STATEMENTS

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 "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" 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.

Cat Financial'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 or the liquidity of our customers, dealers and suppliers; (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) used equipment values and estimated 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' 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) catastrophic events, including global pandemics such as the COVID-19 pandemic; and (xviii) other factors described in more detail in Cat Financial's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

View original content:https://www.prnewswire.com/news-releases/cat-financial-reports-first-quarter-2026-results-302758653.html

SOURCE Cat Financial

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Cat Financial (CAT) Q1 2026 revenues and profit?

Q1 2026 revenues were $947 million and profit was $144 million. According to the company, revenues rose 10% year-over-year and profit increased 11% versus Q1 2025, driven mainly by higher average earning assets.

How did Cat Financial's retail new business volume perform in Q1 2026 (CAT)?

Retail new business volume for Q1 2026 was $3.19 billion, up 8% year-over-year. According to the company, growth was led by higher volume in Mining, North America, Asia Pacific and Power segments.

What credit metrics did Cat Financial report for Q1 2026 (CAT)?

Past dues at quarter-end were 1.39% and allowance for credit losses totaled $283 million (0.86%). According to the company, past dues remained at historically low levels despite higher write-offs net of recoveries.

Did Cat Financial (CAT) report any notable expense or loss trends in Q1 2026?

Yes. The company reported an increase in general, operating and administrative expenses of $22 million and write-offs net of recoveries rose to $29 million. According to the company, higher expenses partially offset revenue benefits.

What tax rate did Cat Financial use for Q1 2026 results (CAT)?

Cat Financial used an estimated annual tax rate of 26% for Q1 2026. According to the company, this compares with a 25% estimated annual tax rate used for Q1 2025.