Recent Earnings

CapitalSource Reports Higher Q2 Earnings, New Fundings

CapitalSource reported Q2 net income of $40 million, excluding the benefit of a deferred tax reversal of $347 million, compared to $17 million a year earlier. New fundings of $596 million were up from $521.5 million sequentially and $548 million in Q2/11. read more

CIT Reports Loss on Higher Refi Charges; NBV Up 38%

CIT reported a net loss for Q2 of $71 million compared to a net loss of $50 million in the same year-ago period. CIT said results included debt refinancing charges of $286 million. Funded new business volume of $2.4 billion was up 38% from the prior-year quarter. read more

Caterpillar Reports Historic Q2; Raises Profit Outlook

Caterpillar announced Q2/12 sales and revenues of $17.4 billion was an all-time record. The company raised its outlook for profit, but noted given the "economic challenges," it's prepared to act quickly as it did in late 2008 and 2009. read more

Trinity Railcar Leasing Q2 Profit up 28%

Trinity Industries reported that its railcar leasing unit revenue and profit in Q2 was $132.0 million and $76.4 million, respectively, up from $121.6 million and $59.7 million in the same period one-year ago. read more

Cat Financial Q2 New Retail Volume Up 32%

Cat Financial reported new retail financing in Q2/12 was $3.8 billion, an increase of $938 million, or 32%, compared to the same quarter in 2011. read more

PACCAR Reports Higher Q2 Earnings; Warns of Looming Slowdown

PACCAR reported its Q2 profit rose 24% from a year ago, but warned that weak economic growth in the U.S., coupled with the ongoing uncertainty in the euro-zone, could dampen truck orders for the remainder of 2012. PACCAR Financial pretax income was a record $77.4 million. read more

Regions Q2 Earnings Up on Loan Loss Improvement

Regions Financial reported Q2 net income of $284 million was up from $55 million in the same quarter 2011. The bank noted its provision for loan losses was $26 million, down from $398 million in Q1/11. read more

Fifth Third Q2 Earnings Higher, NCOs Lowest Since Q4/07

Fifth Third reported second-quarter 2012 net income was $376 million, up from $328 million for the same year-ago period. The company noted credit trends remain favorable with net charge-offs at their lowest level since Q4/07. read more

GE Beats Estimates; GE Capital Q2 Earnings Up 31%

GE said its Q2 earnings and EPS were up 7% and 12%, respectively compared to last year’s second quarter, which exceeded analysts’ expectations. GE Capital’s earnings of $2.1 billion were up 31% from the same period one year-ago. read more

GATX: 'Strong Demand' for Railcars, Raises FY Expectations

GATX CEO Brian A. Kenney notes in the company's news release on Q2 results, "We are seeing continued strong demand for most railcar types in our fleet" and says the company is raising its full year earnings expectations. read more

KeyCorp Expects Early Exit of Leverage Leases

KeyCorp noted in its news release for Q2 that it expects to terminate its leverage leases to realize the economic benefits of the current low rate environment. Key said the gains would be nontaxable pursuant to a previous settlement with the IRS. read more

Textron Finance Unit Swings to Profit, Cessna Deliveries Up

Textron reported that its finance unit second quarter profit was $22.0 million compared to a loss of $33.0 million last year. Textron also noted its Cessna unit Citation jet deliveries were up from 38 to 49 year/year. read more

U.S. Bancorp Reports Record Q2 Earnings

U.S. Bancorp reported record earnings for the second quarter of $1.4 billion, up from $1.2 billion one year ago. The company said earnings were driven by growth in total net revenue and lower provision charges. read more

Bank of America Swings to Profit, Beats Estimates

Bank of America reported net income of $2.5 billion in the second quarter of 2012, or $0.19 per share compared to a net loss of $8.8 billion in the same year-ago period. Analysts had expected earnings per share of $0.14. read more

PNC Reports Lower Q2 Earnings, Strong Loan Growth

PNC Financial reported net income of $546 million for the second quarter of 2012 compared to $912 million in the same year-ago period. The bank noted commercial lending increased $3.5 billion during the period as a result of strong loan growth in corporate banking and asset-based lending. read more

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Terry Mulreany
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