Cat Financial Announces Second-Quarter 2026 Results

Cat Financial Reports Second-Quarter 2026 Results

Cat Financial reported second-quarter 2026 revenues of $991 million, an increase of $92 million, or 10%, compared with $899 million in the second quarter of 2025. The increase in revenues was primarily due to a favorable impact from higher average earning assets. Second-quarter 2026 profit was $145 million, an increase of $8 million, or 6%, compared with $137 million profit in the second quarter of 2025.

Second-quarter 2026 profit before income taxes was $206 million, an increase of $23 million, or 13%, compared with $183 million profit in the second quarter of 2025. The increase was mainly driven by a favorable impact from higher average earning assets of $44 million, partially offset by higher provision for credit losses of $22 million.

As of June 30, 2026 and 2025, the estimated annual tax rate was 28 percent and 25 percent, respectively. The increase in the estimated annual tax rate was primarily due to changes in the geographic mix of profits.

During the second quarter of 2026, retail new business volume was $3.92 billion, an increase of $317 million, or 9%, compared with $3.60 billion in the second quarter of 2025. The increase was driven by higher volume across all segments.

At the end of the second quarter of 2026, past dues were 1.31%, compared with 1.62% at the end of the second quarter of 2025. Write-offs, net of recoveries, were $20 million for the second quarter of 2026, compared with $18 million for the second quarter of 2025. As of June 30, 2026, the allowance for credit losses totaled $294 million, or 0.84% of finance receivables, compared with $283 million or 0.86% of finance receivables at March 31, 2026. The allowance for credit losses at year-end 2025 was $284 million, or 0.86% of finance receivables.

“Cat Financial delivered another solid quarter, with continued strong retail new business volume and strong portfolio performance,” said Dave Walton, President of Cat Financial and Senior Vice President with responsibility for the Financial Products Division of Caterpillar Inc. “The Cat Financial team remains committed to executing our strategy and delivering financial services solutions that support Caterpillar customers and dealers.”

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.