Cat Financial Roars Back With 10% Revenue Surge

Cat Financial, the financing subsidiary of Caterpillar (NYSE:CAT), reported strong second-quarter results. Revenue rose 10% to $991 million, surpassing last year's figure.

Pretax profit increased 13% to $206 million from $183 million in the same period last year. Profit rose 6% to $145 million.

Retail new business volume expanded 9% to $3.92 billion as past dues improved. The estimated annual tax rate rose to 28%, which is higher than the previous quarter's rate.