All Financial results Articles

Hertz Equipment Rental Corp (HERC) reported a 0.2% rise in revenues to US$281.2 million for the third quarter of 2010 to 30 September. It is the first time in two years that the company has posted growth in the third quarter.

HSS Hire Service Group has brought forward its 2011 fleet investment programme because of continued growth of its business.

Cramo’s third quarter revenues grew by 13% to €130.3 million compared to the same quarter in 2009 and operating profits increased by 70% to €13.3 million. Sales grew year on year in all its territories except Denmark.

JLG Industries reported a 57.8% increase in sales to US$385.8 million for the three months to 30 September, year on year, with sales in both North America and Latin America more than doubling from the “depressed” levels of the previous year.

Manitou’s results continue to improve – with revenues up 43% to €208 million for the third quarter of 2010 – but the company said it was now facing a growing backlog for telehandlers partly because of production problems in meeting the new European EN15000 standard on load limiters.

RSC Equipment Rental reported a 5.7% increase in revenues to US$334 million for the third quarter of 2010, with rental revenues up 7.3% to $292 million. RSC made a net loss of $6 million in the period, the same as in the equivalent quarter of 2009.

Terex Corp’s AWP division reported a 41.2% increase in sales to US$280.9 million for the third quarter of 2010 and the division made an operating profit of $14.3 million, reversing the $49.5 million loss made in the same quarter a year ago.

Caterpillar reported an almost doubling of profits to US$792 million for the third quarter of 2010 on revenues that were up 53% to $11,1 billion.

United Rentals reported a 2% increase in revenues to US$605 million for the three months to 30 September, with rental revenues increasing by 6% to $507 million. The company made a net profit of $23 million compared to break-even in the same quarter in 2009.

Haulotte said a 73% jump in sales to Latin America helped its third quarter revenues increase by 30% to €63.2 million. Sales for the year to date were up 20% at €177.6 million, with new equipment sales up 25% to €131.3.

Andrews Sykes's rental revenues were unchanged at £22.5 million for the half year to 3900 June, although overall operating profits rose by 3.1% to £6.8 million.

Manitou’s revenues grew by 8.3% in the first half of the year to €387.1 million, with a 42% “rebound” in sales of skid steer loaders at its Gehl business in the US leading the figures.

Haulotte said a “slight recovery” in the powered access market in the first half of 2010 helped it increase sales by 15% to €114.4 million. It warned, however, that “the world market is not expected to significantly recover over the entire year 2010”.

Aggreko’s revenues in the first half of the year rose by 17% to £583.6 million with profits before tax up 19% to £125.7 million. Revenues grew in all its territories, but particularly its international local business where the South Africa World Cup contributed £28.7 million in sales, Aggreko’s largest ever project by value.

HSS Hire Service Group (HSS) has maintained its good first quarter performance with second quarter revenues up 15% to £40 million compared to the same quarter a year ago.

Spanish rental company GAM’s revenues for the first half of 2010 were 13.75% down year on year at €123.3 million, although the continued falls in its domestic sales were offset by a 60% increase in its international activities, which now represent 16% of total sales (excluding Portugal). Net losses for the period were €18.1 million.

Ramirent’s revenues increased by 3.3% to €128.7 million for the second quarter of 2010 compared to the same period in 2009, the first increase since the third quarter of 2008. The company said it expected increases in demand seen in most of its product groups to continue for the rest of 2010.

Hertz said the equipment rental industry continued to “move in the right direction” with revenues in June increasing by 18% compared to the same month in 2009.

Finland's Cramo reported second quarter sales of €114 million, up 4.2% on the €109 million recorded for the same period last year.

Oshkosh's fiscal 2010 third quarter net sales reach US$ 2.44 billion and net income of US$ 211.2 million. This compares with net sales of US$ 1.22 billion and a loss of US$ 26.6 million in the same period last year.