Wall Street Beat archive
Burris Revenues Boost H&E’s First Quarter Increase
H&E Equipment Services increased 17.2 percent to $245.8 million in first-quarter revenue, compared with $209.7 million in the first quarter last year. The company’s recent acquisition of J.W. Burress in the mid-Atlantic region contributed $27.6 million of the $36.1 increase. EBITDA jumped 7.8 percent to $56.4 million compared with $52.3 million in the same period last year, with Mid-Atlantic contributing $1.4 million....
AEM’s ConExpo Russia Set for September
Dayton Superior Posts Slight Drop in First Quarter
Dayton Superior Corp., a leading North American provider of specialized products for the non-residential concrete construction market, last week reported a slight decrease in the first quarter ended March 28....
Ahern Rentals Announces 1Q08 Call
Ahern Rentals last week announced it will hold a conference call at 10 a.m. Pacific time on Friday, May 16, 2008, to discuss matters covered in the company’s quarterly report on Form 10-Q for the fiscal quarter ended March 31, which the company expects to file with the Securities and Exchange Commission on Thursday, May 15....
S&P Assigns BBB+ Rating to Finning Notes
Standard & Poor’s Ratings Services said is assigned its BBB+ issue rating to Finning International’s proposed CD $600 million (U.S. $596 million) senior unsecured medium-term notes, which will be issued in two tranches: CD $350 million due June 2018 and CD $250 million due September 2013....
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. ...
Oshkosh Corp. Reports Record Second Quarter on Strong Access Equipment Demand
Oshkosh Corp., a leading manufacturer of specialty vehicles and vehicle bodies, and parent company of McConnellsburg, Pa.-based JLG Industries’, last week reported that, for its second quarter of fiscal 2008, earnings per share were $0.97, on sales of $1.8 billion and net income of $72.6 million. These results compare with EPS of $0.68 on sales of $1.7 billion and net income of $50.9 million for the comparable prior-year quarter. Oshkosh’s EPS exceeded the company’s most recent earnings estimate range for the second quarter of $0.85 to $0.90....
Volvo Group Posts 26-Percent Sales Increase in Q108
For the three months ended March 31, Stockholm, Sweden-based Volvo Group posted a 26-percent sales increase to SEK 76.7 billion (about U.S. $12.7 billion) from SEK 61.0 billion (U.S. $10.1 billion) a year ago. In the first quarter, operating income rose 22 percent to SEK 6.5 billion (U.S. $1.1 billion) from SEK 5.3 billion (U.S. $879.9 million) in the year-ago period....
H&E Equipment Services Announces 1Q08 Conference Call
H&E Equipment Services last week announced that it will release its 2008 first-quarter financial results before the market on Thursday, May 8. The company will also hold a conference call to discuss first-quarter results at 10 a.m. Eastern time. To listen to the call, participants should dial 913-312-0945 approximately 10 minutes prior to the start of the call. A telephonic replay will become available after 1 p.m. Eastern time May 8, and will continue through May 17, by dialing 719-457-0820 and entering the confirmation code 7412840....
Deutz Reports 18.4-Percent 1Q08 Revenue Increase
Deutz Ag last week reported its first-quarter 2008 revenue grew by 18.4 percent to €397.0 million (about U.S. $618.1 million) compared with €335.4 million (U.S. $522.2 million) a year ago. This revenue growth was driven by the success of the new TCD 2013 4V engine, unit sales of which were up 30 percent in the period under review. ...
Ritchie Bros. 1Q08 Earnings Drop Slightly
Ritchie Bros. Auctioneers last week announced that it achieved net earnings of $16.4 million, or $0.16 per diluted weighted average share, for the first quarter of 2008, compared to net earnings of $17.6 million, or $0.17 per diluted weighted average share, for the first quarter of 2007. All dollar amounts are presented in U.S. dollars and, except as noted otherwise, all share and per share amounts reflect the three-for-one split of the company's common shares that occurred at the close of business on April 24....
IronPlanet 1Q08 Gross Auction Sales Up 135 Percent Over 1Q07
Pleasanton, Calif.-based IronPlanet, a leading online auction company for used construction and agricultural equipment, completed a record-breaking first quarter, with gross auction sales of $77.6 million — an increase of 135 percent over the first quarter of 2007....
Cummins Sales and Earnings Surge on Strong Global Demand
Cummins Inc. last week reported significantly higher revenues, net income and Earnings Before Interest and Taxes for the first quarter of 2008. All four business segments reported double-digit percentage sales increases during the quarter, with earnings growing at an even faster pace than sales....
The Manitowoc Company Reports 25-percent Q1 Sales Increase
Manitowoc, Wis.-based The Manitowoc Co. last week reported its financial results for the quarter ended March 31. For the quarter, the company once again set records for net sales and earnings per share as each of the company’s three business segments showed solid improvements in net sales and operating earnings from the first quarter of 2007. For the latest quarter, net sales totaled $1.08 billion, an increase of 25 percent from the first quarter of 2007. Reported earnings per diluted share were $0.78 for the first quarter of 2008 compared to $0.50 for the first quarter of 2007....
LoJack Corp. Reports First Quarter 2008 Results
LoJack Corp. last week reported that revenue for the first quarter ended March 31, declined 15 percent to $46.1 million, from $54.1 million in the same period a year ago....
Strong First Quarter For Ontario’s Toromont
Toromont Industries, the Toronto-based parent company of rental company Battlefield Equipment Rentals, reported record revenues and net earnings for the first quarter of 2008. Net earnings for the quarter were CD $16.5 million (about U.S. $16.3 million), up 16 percent compared with $14.3 million in the first quarter of 2007. Revenue for the quarter was CD $400.6 million, a 3-percent increase from 2007’s first-quarter total of $390.2 million....
Terex 1Q08 Results Show Double-Digit Growth
Terex Corp. last week announced net income for the first quarter of 2008 of $163.3 million, or $1.59 per share, compared to net income of $113.8 million, or $1.09 per share, for the first quarter of 2007, an increase in earnings per share of 46 percent. Net income for the first quarter of 2007 included a $12.5 million pretax charge related to the early extinguishment of the company’s 9-1/4-percent senior subordinated notes, which negatively impacted earnings per share by $0.08. Net sales reached $2.4 billion in the first quarter of 2008, an increase of 17.4 percent from $2.0 billion in the first quarter of 2007. The increase in net sales versus the prior year period was favorably impacted by acquisitions and by the effect of currency exchange rates (1.9 percent and 6.1 percent, respectively). All per-share amounts are on a fully diluted basis....
Atlas Copco Reports 28-Percent Q108 Revenue Increase
Stockholm, Sweden-based Atlas Copco last week reported first-quarter results with sustained high growth in all business areas and on all geographical markets....
CNH Reports Record First-Quarter Revenues of $4.4 Billion
Burr Ridge, Ill.-based CNH Global N.V. last week reported first-quarter 2008 net income of $112 million, up compared to net income of $95 million in the prior year. Results include restructuring charges, net of tax, of $13 million in the first quarter of 2008, compared with $10 million in 2007. Net income excluding restructuring charges, net of tax, was $125 million, up 19 percent compared to $105 million in the prior year. First-quarter diluted earnings per share were $0.47, compared with $0.40 per share in 2007. Before restructuring, net of tax, first quarter diluted earnings were $0.53 per share, compared with $0.44 per share in the prior year....
Haulotte 1Q08 Sales Decline; Company Maintains Full-year Guidance
Haulotte Group had consolidated first-quarter sales of €126.2 million (about U.S. $199.2 million) compared with €136.3 million (U.S. $215.2 million) in the equivalent prior-year period, a decline of 7 percent. Strong growth in emerging markets (+50 percent) and services (+16 percent) was not sufficient to offset the relative weakness in aerial work platform sales in Western Europe (-14 percent) reflecting greater-than-expected caution among many customers in Western Europe at the start of the year....
Gorman-Rupp Reports Strong First Quarter, Expansion Plans
The Gorman-Rupp Co. last week reported record net sales of $81.4 million during the first quarter ended March 31, compared to $74.5 million during the same period in 2007, an increase of 9.4 percent. Net income during the quarter was $7.2 million, an increase of 40.5 percent compared to $5.1 million in 2007, resulting in record earnings per share of $0.43 compared to $0.30 for the first quarter in 2007....
Caterpillar Posts Record First Quarter Revenues and Profits
Caterpillar last week reported record first-quarter profit per share of $1.45, an 18 percent increase compared with $1.23 per share in the first quarter of 2007. ...
