Wall Street Beat archive
Deere Reports 4Q08 Earnings of $345 Million and Record $2.05 Billion for Full Year
Deere & Co. last week announced worldwide net income of $345.0 million, or $0.81 per share, for the fourth quarter ended Oct. 31, compared with $422.1 million, or $0.94 per share, for the same period last year. For the full year, net income was a record $2.1 billion, or $4.70 per share, compared with $1.8 billion, or $4.00 per share, last year....
Texada Software Reports Q308 Revenues of $1.2 Million
Texada Software, a provider of equipment rental and mobile asset management software, last week announced its unaudited interim financial results for the third quarter ended Sept. 30, 2008. In the quarter, Texada generated total revenues of CAD $1.2 million, up slightly from $1.1 million in the third quarter of 2007. The company reported a loss of $111,832 in Q308 with an adjusted EBITDA loss of $33,146, an improvement from its loss of $647,505 and an adjusted EBITDA loss of $363,702 in the year-ago period....
The Stock Block
Check in on some of the latest stock prices for publicly traded rental companies and popular construction equipment and general tool manufacturers related to the rental equipment industry. ...
First Nine Months Strong for Wacker Despite Slowdown
Fueled by the merger of Wacker and Neuson, Wacker Construction Equipment, soon to be known as Wacker Neuson SE, grew sales 35.8 percent during the first nine months of 2008, from €504.2 million in the first nine months of 2007 to €684.7 million this year (about U.S. $853.3 million). EBITDA rose 9.8 percent from €83.2 million last year to €91.4 million (about U.S. $113.9 million)....
Doosan Infracore Reports $35 Million Third-Quarter Loss
Doosan Infracore Co. last week reported a net loss in the third-quarter of 43 billion won (about U.S. $35 million) as a weaker local currency inflated its financial burden on overseas debts. In the prior-year period, the company reported a net profit of 47.2 billion won (U.S. $34.1 million)....
IronPlanet Reports 3Q Auction Sales Up 60 Percent; Establishes European Headquarters
IronPlanet, a leading online auction company for used construction and agricultural equipment, last week announced third-quarter 2008 gross auction sales of $76.4 million — an increase of nearly 60 percent over the third quarter of 2007. Gross auction sales for the nine months ended Sept. 30, were $245.4 million, a 66-percent increase over the same period in 2007....
Manitowoc Boosts Third Quarter Sales
Manitowoc’s third quarter sales jumped 19.6 percent to $1.1 billion compared with last year’s third quarter total sales of $925.2 million. Operating earnings were $140.6 million, a 19.2-percent leap compared with $118 million for the same period last year. Earnings per share for the Manitowoc, Wis.-based manufacturer were $.80 before special items, compared with net earnings of $0.66 per diluted share in the year-ago period....
EPS and Net Income Drop in Fiscal 4th Quarter for Oshkosh
Oshkosh Corp., parent company of JLG Industries, showed the effects of the economic downturn with fiscal 2008 fourth quarter earnings per share dropping 36.8 percent from $1.14 in last year’s fourth quarter to $0.72 per share this year. Total sales increased 6.1 percent, however net income declined 37 percent from $85.4 million in last year’s fourth quarter to $53.6 million in this year’s period....
Skyjack Sales Decrease 21 Percent in Third Quarter
Linamar Corp., parent company to aerial work platform manufacturer Skyjack Inc., reported a 56 percent decline in profits in the third quarter. Sales for Skyjack, based in Guelph, Ontario, Canada, decreased 21.3 percent....
Canada’s Wajax Posts Solid Third Quarter
Mississauga, Ontario, Canada-based Wajax Ltd. posted a 3.4-percent year-over-year revenue increase in the third quarter. Mobile equipment segment revenues decreased 1 percent on lower equipment sales offset by an 18-percent jump in parts and service volumes. Sales in the Power Systems division increased 6 percent, largely the result of an 11 percent boost in aftermarket volume....
Ahern Rentals Q3 Call Set for Friday
Ahern Rentals will hold a conference call for press and analysts at 9 a.m. PST, Friday, Nov. 14 to discuss third-quarter results, which the company expects to file with the Securities and Exchange Commission Nov. 13. The call is open to the public via telephone by dialing 800/954-0690....
Sandvik Tops Q3 Expectations But Still Plans Cuts
Tool and equipment manufacturer Sandvik reported third-quarter pretax earnings above market expectations last week, but said it was cutting costs in response to a recent drop in demand....
Cummins Posts Record Third Quarter in Sales and Profits
Cummins Inc. last week reported its highest third quarter sales and profits ever and second best quarter in its history, led by strong gains internationally that offset continued weakness in the company’s North American consumer markets....
Dayton Superior Corp. Posts Record Third Quarter
Dayton Superior Corp., the leading North American provider of specialized products for the non-residential concrete construction industry and the largest concrete forming and shoring rental company serving the domestic, non-residential construction market, last week reported its highest third quarter net income in nine years as well as record third quarter operating earnings. ...
Caterpillar Reports Record $13.0 Billion Third-Quarter Sales and Revenues; Reaffirms Full-Year Outlook
Caterpillar Inc. last week announced record third-quarter sales and revenues of $13.0 billion, 13-percent higher than third-quarter 2007 sales and revenues of $11.4 billion. Profit per share for the third quarter 2008 was $1.39, down $0.01 from profit per share of $1.40 in the third quarter of 2007, while profits declined 6 percent year over year from $927 million in the third quarter of 2007 to $868 million in this year’s quarter....
Atlas Copco Reports 13-Percent 3Q08 Organic Revenue Growth
Stockholm, Sweden-based Atlas Copco last week reported third-quarter results with good order growth and record operating profit. Sales of mining equipment and aftermarket products were strong, and all three business areas recorded sales and order growth....
Terex Reports 33.8 Percent 3Q08 EPS Loss; Announces Cost Reduction Activities
Westport, Conn.-based Terex Corp. last week announced net income for the third quarter of 2008 of $93.8 million, or $0.96 per share, compared to net income of $151.5 million, or $1.45 per share, for the third quarter of 2007, a decrease in earnings per share of 33.8 percent. These results include a $10.1 million after-tax, or $0.10 per share, charge related to a crane repair program, and charges associated with reductions in headcount of $2.2 million after-tax, or $0.02 per share. All per-share amounts are on a fully diluted basis....
Volvo’s Growth Rate Slows to Modest 2 Percent in Q3 as Demand Weakens
After record sales and record volume in the first and second quarters, the worldwide economic slump caught up with Volvo Construction Equipment in the third quarter with sales growth decelerating more rapidly than expected, company officials said. Still, net sales increased by 2 percent to SEK 13.2 billion (about U.S. $1.7 billion), compared with SEK 12.9 billion for the third quarter of 2007. Adjusted for changes in the exchange rates and acquired and divested units, net sales rose by 7 percent....
Lincoln Electric Makes Brazil Acquisition, Posts Strong 3rd Quarter
Welder manufacturer Lincoln Electric Holdings last week reported an increase in third-quarter net income exceeding analysts’ expectations, propelled by sales growth across all segments and geographies....
Husqvarna Reports Flat 3Q08 Sales
Husqvarna Group last week announced net sales for the third quarter of 2008 of SEK 6.83 billion (about U.S. $875.1 million), up 1 percent from SEK 6.82 billion (U.S. $874.6 million) in the year-ago quarter. Net sales for the first nine months amounted to SEK 27.2 billion (U.S. $3.5 billion), a 3-percent decline from 28.1 billion (U.S. $3.6 billion) in the first nine months of 2007....
Gorman-Rupp Reports 12.8-Percent 3Q08 Sales Increase, Record Nine Months
The Gorman-Rupp Co. last week reported a record backlog and nine months ended Sept. 30. Net income for the third-quarter 2008 was $7.4 million compared to $5.5 million during the third quarter of 2007, an increase of 34.9 percent. Net sales increased 12.8 percent to a record $84.2 million for the quarter ended Sept. 30, from $74.6 million during the same period in 2007....
Haulotte Revenue Drops in Third Quarter
Haulotte Group had consolidated sales of €118.1 million (about U.S. $152.6 million) in the third quarter, compared with €127.1 million for the same period last year. The €118.1 million figure includes €12.3 million (about U.S. $15.9 million) from recently acquired Bil-Jax Inc....
Airgas Grows Quarterly Net Earnings 44 Percent
Airgas Inc., the largest U.S. distributor of industrial, medical and specialty gases, and welding, safety and related products, last week reported record earnings and strong growth in sales and operating income for its second quarter ended Sept. 30....
United Rentals Amends Shareholder Rights Plan
United Rentals last week announced that its board of directors has amended the company's Shareholder Rights Plan to reduce the triggering threshold under the plan to 15 percent from its previous level of 25 percent. As a result of the amendment, and subject to certain exceptions, the rights will be triggered if a person or group acquires beneficial ownership of 15 percent or more of the company's common shares....
Terex Announces Third Quarter Earnings Conference Call
Westport, Conn.-based Terex Corp. will release its third-quarter 2008 financial results on Wednesday, Oct. 22, after market close. The company will host a conference call to review the financial results on Thursday, Oct. 23 at 8:30 a.m. Eastern time. Ronald DeFeo, chairman and CEO, will host the call....
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