Finning posted $68 million in rental revenue in the second quarter, compared to $86 million in the second quarter in 2014, a 21-percent slide. For the first six months of 2015, its rental revenue was $139 million, compared to $174 million last year, a 20-percent plunge.
In Canada, rental revenues declined 32 percent year over year because of increased competition and a slowdown in the short-term rental market.
Total revenue for Finning, the world’s largest Caterpillar dealer, was $1.656 billion, compared to $1.768 billion a year ago, a 6-percent decrease. The decrease was driven by lower activity levels in Canada and South America.
Finning finalized its acquisition of Kramer Cat, the Caterpillar dealer in Saskatchewan.
Finning is No. 13 on the RER 100.
