Recent Earnings

Caterpillar Sales Fall 16% in Q2/16, Cites Lower End-User Demand

Caterpillar reported Q2/16 sales and revenues of $10.3 billion, down 16% from $12.3 billion recorded in Q2/15. Caterpillar noted lower end-user demand for construction and continuing declines in mining and low oil prices. read more

KeyCorp Reports Q2/16 Operating Lease Assets Up 35% Y/Y

KeyCorp reported its operating lease assets at the end of Q2/16 of $399 million were up 34.8% from $296 million at the end of the same quarter in 2015. read more

TCF Beats the Street; Q2 Equipment Finance Revenue Up 18% Y/Y

TCF Financial reported Q2 earnings of $57.7 million were up 10.4% year/year. EPS of $0.31 per share exceeded analysts’ estimates of $0.29 per share. TCF noted that its equipment finance Q2 revenues were up 17.85% year-over-year. read more

Textron Reports Q2 Y/Y Increase in Citation Jet Sales

Textron reported its Textron Aviation unit delivered 45 Citation Jets and 23 King Airs compared to 36 jets and 30 King Airs in Q2/15. read more

GE: $168B Financial Asset Sales Closed Through July

General Electric reported through July, $168 billion in financial asset sales were closed out of $183 billion that were signed. GE also noted its SIFI de-designation was effective June 28. read more

GATX 35% Q2 Earnings Increase Driven by Asset Dispositions

GATX reported Q2/16 earnings of $61.2 million, up 35% compared to earnings of $45.4 million a year earlier. The company noted a net year-over-year gain of $28.2 million on asset dispositions. read more

Signature Q2 Earnings Up 13% Despite Taxi Medallion Loan Losses

Signature Bank announced Q2/16 net income of $102.2 million was up 13% from $90.5 million a year earlier. The bank noted a 270% increase in its provision charges primarily due to additional reserves for Chicago taxi medallion loans. read more

Bank of America Q2 Earnings Off 19.4%

Bank of America reported Q2/16 earnings of $3.87 billion, down 19.4% from $4.80 billion a year earlier. The bank’s four core business segments trended higher, but was more than offset by a $1.6 billion earnings swing in “All Other.” read more

IBM Global Financing Q2 Revenues Down 11.3% Year/Year

IBM reported its Global Financing unit Q2/16 revenues of $424 million were down 11.3% from $478 million for the same quarter a year earlier. read more

Wells Fargo Q2/16 Results Reflect Higher Oil & Gas Charges

Wells Fargo reported Q2/15 earnings of $5.6 billion were down from $5.7 billion a year earlier despite higher revenues. The bank noted a Q2 provision charge $1,074 million compared to $300 million a year earlier. read more

U.S.Bancorp Reports Record Q2/16 Revenue, Net Income

U.S. Bancorp reported record Q2/16 net income of $1,522 million compared with $1,483 million a year earlier. Revenue was a record $5.45 billion, up 8.1% from $5.0 billion a year earlier. read more

JPMorgan Q2 Performance Beats Estimates

Bloomberg reported JPMorgan posted revenue that beat estimates as it extended $106 billion more in loans compared to a year earlier. Earnings per share of $1.55 exceeded analysts’ estimates of $1.43. read more

Ascentium Reports Strong Q2/16 Growth, Record June

Ascentium Capital funded $225.4 million during Q2/16 which included a record month in June with origination volume representing 30% growth over the same period last year. read more

Deere Q2 Earnings Down 28% on ‘Global Farm Recession’

Deere & Company reported Q2/16 earnings were down 28% from $690.5 million a year earlier. The company noted the global farm recession and weak construction-equipment markets lead to lower earnings. read more

FLY Leasing Q1 Earnings Off on Lower Lease-End Revenue

FLY Leasing reported Q1/16 net income of $7.1 million was down from $19.9 million a year earlier. FLY noted Q1/15 results included $21.9 million of end-of-lease revenue compared to $3.2 million in Q1/16. read more

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