Deere Posts 20% 4Q07 Revenue Increase
Moline, Ill.-based Deere & Co. last week announced worldwide net income of $422.1 million, or $1.88 per share, for the fourth quarter ended Oct. 31, compared with $277.3 million, or $1.20 per share, for the same period last year. Income from continuing operations was $422.1 million, or $1.88 per share, for the fourth quarter, versus $276.7 million, or $1.20 per share, last year. ...
Atlas Copco Holds Capital Markets Day
Stockholm, Sweden-based Atlas Copco last week held its annual capital markets day at its Rock Excavation Technology center in Örebro, Sweden. The company provided an overview of the group’s strategy and ongoing activities, with a special focus on the construction and mining markets. ...
Wacker Increases EBITDA Forecast After Record Third Quarter
Wacker Construction Equipment AG is increasing its forecast for EBITDA for 2007 after the company’s sales reached a record €504.2 million (about U.S. $739 million) for the first nine months of 2007, up from €470.6 million a year ago. Discounting exchange rate fluctuations, the increase was about 10 percent....
Neff Rentals Q3 Revenues, EBITDA Decline
Neff Rental reported total third quarter revenue of $81.4 million, down 4.6 percent year over year from $85.3 million in the third quarter last year. Rental revenue dropped 6.6 percent from $75.1 million to $70.1 million....
H&E Equipment Services Revenues Jump 32.6% in Q3
H&E Equipment Services last week announced a 32.6-percent revenue increase for the third quarter of 2007, rising from $204.1 million in last year’s third quarter to $270.6 million this year. Gross profit jumped 22 percent to $83.9 million, compared with $68.7 million for the year-ago period. Rental volume grew 12.2 percent from $67.3 million to $75.6 million....
H&E Announces Stock Repurchase Program
H&E Equipment Services last week said its board of directors has authorized a stock repurchase program, under which the company may purchases, from time to time up to $100 million of the company’s outstanding common stock. The company said it would acquire the shares in open-market transactions at prevailing prices or through privately negotiated transactions as conditions permit....
Analysts Lower United Rentals Rating
Moody’s Investors Service last week said it has assigned corporate family rating B2 to United Rentals in conjunction with the $6.9 billion leveraged buyout acquisition of United by affiliates of Cerberus Capital Management LP. Moody’s said the deal will result in a relatively high debt burden for the Greenwich, Conn.-based rental giant. ...
Deutz AG's Reports Strong 3Q Revenue Gains
Cologne, Germany-based Deutz Ag last week reported third-quarter 2007 revenue of €383.0 million (about U.S. $561.3 million), from €292.2 million (U.S. $428.3) a year ago. Revenue for the first nine months was €1.1 billion (U.S. $1.6 billion) from € 817.5 million (U.S. $1.2 billion) for the first nine months of 2006. ...
Hertz Reports Record 3Q Rental Revenue of $465 Million
Hertz Global Holdings reported record third quarter 2007 revenues of $2.45 billion, an increase of 9.3 percent over the same period in 2006, led by an 11.0 percent increase in worldwide car rental revenues for the quarter to a record $1.98 billion....
JLG Propels Oshkosh to Record Sales, Profits, EPS
Oshkosh Truck Corp., a leading manufacturer of specialty vehicles and vehicle bodies, and parent company of aerial equipment manufacturer JLG Industries, last week announced that for its fiscal year ended Sept. 30, earnings per share increased 29.7 percent to $3.58 on sales of $6.3 billion and net income of $268.1 million. The results compare with EPS of $2.76 on sales of $3.4 billion and net income of $205.5 million in fiscal 2006....
Volvo CE’s Sales Rise 32 Percent in 3Q07
Volvo Construction Equipment last week credited a strong product portfolio with helping the company continue its rapid growth, despite a slowdown in the North American market....
United Rentals Announces Terms of Tender Offers and Consent Solicitations
United Rentals last week announced the total consideration to be paid with respect to the tender offers and consent solicitations of United Rentals (North America), the company’s wholly owned subsidiary, for URNA’s outstanding 6½ percent senior notes due 2012, outstanding 7¾ percent senior subordinated notes due 2013, and outstanding 7 percent senior subordinated notes due 2014. ...
Toromont Announces Quarterly Dividend
Toromont Industries Ltd. last week announced the regular quarterly dividend of 12 cents per share on outstanding common shares, payable Jan. 2, to shareholders of record on Dec. 14....
Global Crane Demand Drives Manitowoc Third Quarter
The Manitowoc Co. last week reported its financial results for the quarter ended Sept. 30, as continued strong global demand for the company's lifting solutions drove outstanding performance in sales, profitability, and earnings per share. For the quarter, net sales totaled $1.0 billion, an increase of 29 percent from the third quarter of 2006. Reported earnings per diluted share were $0.59 for the third quarter of 2007 compared to $0.40 for the third quarter of 2006....
Terex Reports Strong 3Q Income on Solid International Sales
Terex Corp. last week announced income from continuing operations for the third quarter of 2007 of $151.5 million, or $1.45 per share, compared to income from continuing operations of $105.6 million, or $1.02 per share, for the third quarter of 2006. All per-share amounts are on a fully diluted basis....
Volvo Group Reports 13% 3Q07 Net Sales Increase
Volvo Group last week reported third-quarter sales were slightly more than SEK 68 billion (U.S. $10.5 billion), a 13-percent increase from SEK 60 billion (U.S. $9.3 billion), while operating profit of SEK 5 billion (U.S. $773 million) was in line with underlying earnings during the third quarter last year....
CNH Posts 82% Jump in 3Q07 Net Income
Based on large increases in international sales, CNH Global N.V. last week reported third-quarter 2007 net income of $122 million, up 82 percent compared to net income of $67 million in the prior year....
Atlas Copco Reports 31% 3Q Revenue Hike
Stockholm, Sweden-based Atlas Copco last week reported its 22nd consecutive quarter of robust organic growth, supported by strong demand in all geographical regions and with operating profit at a record level. ...
Cummins Reports Record 3Q Sales of $3.37 Billion
Cummins Inc. last week reported record revenues and higher earnings for the third quarter, led by quarterly best sales in three of its four business segments. Given the company’s performance through the first nine months of 2007 and the outlook for the fourth quarter, Cummins remains on pace to meet its earnings guidance of $7.15 to $7.65 a share, which would make 2007 the most profitable year in company history....
Ingersoll Rand 3Q Revenues Increase 10%
Hamilton, Bermuda-based Ingersoll-Rand Co., last week announced earnings and revenues for the third quarter of 2007. The company reported net earnings of $266.6 million, or diluted earnings per share of $0.92, for the third quarter of 2007 compared with $243.8 million, or EPS of $0.76 in the year-ago period. ...
Gehl Co. Announces 3Q07 Earnings Call
West Bend, Wis.-based Gehl Co., a manufacturer and distributor of compact equipment for construction and agricultural markets, last week announced it will hold a conference call Monday, Oct. 29, at 1 p.m. Central time to discuss the company’s third-quarter 2007 earnings....
Manitowoc Schedules 3Q07 Earnings Announcement
The Manitowoc Co. last week announced it will release its third-quarter 2007 financial results on Wednesday, Oct. 31, after the market closes. The third-quarter results will also be discussed by Manitowoc's management team during a live conference call for security analysts and institutional investors at 10 a.m., Eastern Time, on Thursday, Nov. 1....
Trimble 3Q07 Revenue Grows 26 Percent
Sunnyvale, Calif.-based Trimble last week announced results for its third quarter 2007, ended Sept. 28. Revenue for the third quarter of 2007 was $296.0 million, up 26 percent from revenue of $234.9 million in the third quarter of 2006....
Caterpillar Announces Record Quarterly Earnings of $11.4 Billion
Citing continued strength in markets outside of the United States, Caterpillar last week announced third-quarter sales and revenues of $11.4 billion, an all-time quarterly high. The company also reported profit of $927 million, or $1.40 per share, for the quarter ended Sept. 30. Profit and profit per share were also the highest ever for a third quarter....
United Rentals Begins Cash Tender Offers
United Rentals last week began cash tender offers and consent solicitations for all of its outstanding 6 ½ percent senior notes due 2012, 7 ¾ percent senior subordinated notes due 2013 and 7 percent senior subordinated notes due 2014....
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