BRIEF-Cat Financial reports Q2 results

Tue Jul 26, 2016 7:57am EDT
 
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July 26 (Reuters) - Cat Financial:

* Decrease in Q2 revenues was primarily due to a $15 million unfavorable impact from lower average earning assets

* During Q2 of 2016, retail new business volume was $3.06 billion, an increase of $319 million, or 12 percent

* Reported second-quarter 2016 revenues of $659 million, a decrease of $24 million, or 4 percent

* Second-Quarter 2016 profit was $102 million, a $2 million, or 2 percent, decrease from Q2 of 2015

* As of June 30, 2016, allowance for credit losses totaled $346 million, compared with $405 million at June 30, 2015

* Write-Offs, net of recoveries, were $33 million for Q2 of 2016, compared with $38 million for Q2 of 2015 Source text for Eikon: Further company coverage: