Cat Financial Announces Third-Quarter 2004 Results

Cat Financial Announces Third-Quarter 2004 Results 


PEORIA, Ill., Oct. 21  /PRNewswire-FirstCall/ -- Caterpillar Financial Services
Corporation (Cat Financial) today reported record revenues of $476 million, an
increase of $31 million or 7 percent compared with third quarter 2003.  Profit
after tax was a record $82 million, a $15 million or 22 percent increase from
third quarter 2003.

Of the increase in revenues, $50 million resulted from the impact of continued
growth of finance receivables and leases, partially offset by a $12 million
impact of lower interest rates on new and existing finance receivables and the
absence of $9 million interest received in 2003 from Caterpillar Inc. related
to prior years' tax audit settlements.

Of the increase in profit, $22 million was due to growth in earning assets and
$12 million was due to a decrease in state income tax, partially offset by the
absence of $9 million interest received in 2003 from Caterpillar Inc. related
to prior years' tax audit settlements.

New retail financing was a third-quarter record $2.39 billion, an increase of
$287 million or 14 percent from the same period one year ago.  The increase was
primarily related to increased financing in our North America segment.

Past dues over 30 days were 2.3 percent compared to 3.1 percent at the end of
the same period one-year ago.  Write-offs, net of recoveries, were $20 million
during the quarter compared with $15 million for the third quarter of 2003.

Caterpillar Vice President and Cat Financial President James S. Beard said, 
"We are pleased with our record results, the result of close cooperation with
Caterpillar marketing units and Caterpillar dealers globally in assisting the
sales of machines and engines. Our investments in technology and process
improvements continue to deliver greater efficiencies in our operations."

Cat Financial, a wholly-owned subsidiary of Caterpillar Inc. and 2003 recipient
of the Malcolm Baldrige National Quality Award, provides a wide range of
financing alternatives for Caterpillar machinery and engines, Solar(R) gas
turbines, as well as other equipment and marine vessels.  The company also
extends loans to customers and dealers. Cat Financial has offices and
subsidiaries located throughout the Americas, Asia, Australia, and Europe, with
headquarters in Nashville, Tennessee.

   STATISTICAL HIGHLIGHTS:

                THIRD QUARTER 2004 VS. THIRD QUARTER 2003
                          (ENDING SEPTEMBER 30)

                          (Millions of dollars)

                                          2004          2003         CHANGE
   Revenues                               $476          $445             7 %
   Net Profit                              $82           $67            22 %
   New Retail Financing                 $2,393        $2,106            14 %
   Total Assets                        $21,783       $18,531            18 %


            FIRST NINE MONTHS 2004 VS. FIRST NINE MONTHS 2003
                          (ENDING SEPTEMBER 30)

                          (Millions of dollars)

                                          2004          2003         CHANGE
   Revenues                             $1,400        $1,293             8 %
   Net Profit                             $217          $189            15 %
   New Retail Financing                 $6,949        $5,776            20 %


DATASOURCE: Caterpillar Inc.



CONTACT:  Kelly Wojda, Corporate Public Affairs of Caterpillar,

[phone],  



Web site:  http://www.cat.com/ 

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