All Financial results Articles

Terex Corp made a net loss of US$114.8 million in the fourth quarter of the year with its AWP and Construction divisions being the worst performers, making operating losses of $32.6 million and $89.6 million, respectively.

RSC Equipment Rental said it expected the first half of 2010 to be challenging but that it anticipated an improvement in business conditions in the second half of the year with a recovery in industrial business leading the construction sector.

Ramirent’s final quarter of 2009 was the weakest of the year, with a net loss of €9.3 million on revenues of €126.2 million, which were down 26.9% on the corresponding quarter in 2008.

Cramo’s final quarter of 2009 saw little recovery in its markets – sales were down 19.5% to €115.4 million – and one-off impairment charges of almost €22 million in the final quarter contributed to a €39 million overall loss for the company in 2009. It anticipates a “challenging” first quarter of 2010.

United Rentals has managed to dramatically reduce its losses, reporting a US$26 million net loss for the final quarter of 2009 compared to a $853 million loss in the same quarter of 2008. Net losses for the full year were down to $62 million compared to $704 million for 2008.

Manitou said it expected to see “mid to high single digit growth” in 2010 compared to 2009, although the first half of the year is unlikely to see any significant growth.

JLG Industries' sales of aerial platforms and telehandlers fell by 45.6% to US$200.4 million for the final quarter of 2009, although JLG benefited from an additional $527.6 million in revenues by producing M-ATV military vehicles for its parent company, Oshkosh Corp. Sales of new aerial platforms and telehandlers fell by 60%.

IronPlanet reports gross equipment sales of US$ 458 million in 2009, an increase of +34% over 2008.

Aggreko said that a better than expected final quarter of the year - particularly from its international power projects division - would push its revenues for the year up 7% to over £1 billion and operating profits up 27% to £260 million. On a constant currency basis, revenues are 5% down and profits 4% up.

Ashtead Group remained profitable during the six months to 31 October despite revenues falling 24% in the period. Pre-tax profits in the most recent quarter actually more than doubled to £10.4 million.

Speedy Hire said it expected to break even in the second half of the current financial year (before tax and exceptional items) after making a pre-tax loss of £4.8 million for the six months to 30 September. Including tax and exceptions items, this loss rose to £13.6 million.

H&E Equipment Services revenues fell by 37.0% to $175.6 million for the third quarter of the year, with rental revenues down 42.3% to $45.1 million.

Ahern Rentals in Las Vegas, US, is to continue its policy of expanding its network, with plans to open up to 15 new locations by the end of 2010. The company reported net losses of US$16.5 million for the three months to 30 September, with interest payments amounting to $9.2 million on its $610 million of debt.

Komatsu Ltd has revised downwards by 6.5% its sales forecast for the year to 31 March 2010. The company said market conditions in Japan, North America and Europe were likely to be more challenging that previously forecast.

Cramo said it was possible that the demand for rental equipment could continue to weaken until the middle of 2010, with a recovery starting in the second half of the year, although it said any forecasts were difficult to make.

Hertz Equipment Rental Corp (HERC) reported a 35.2% decrease in revenues to US$280.5 million for the third quarter of the year, with lower pricing and volumes resulting in a 68.9% fall in operating profit to $25.2 million.

RSC Equipment Rental said the seasonal upturn in rentals did not materialise in its third quarter to 30 September but that rental pricing and utilisation rates were stable from the second quarter.

Manitou said its business continued to decrease in the third quarter but less rapidly than at the beginning of the year and predicted its sales would reach a low point in the final quarter of the year.

Husqvarna Construction’s Jönköping facility in Sweden is to be closed and relocated to Huskvarna as part of a much wider restructuring effort that will see the group shed around 1200 employees and shift production from Sweden and the US to new facilities in countries such as Poland and China.

Terex AWP sales fell by 66.5% to US$397.7 million for the third quarter of the year and the division made a net loss of $50.1 million. The company said its rental customers in North American and Europe continued to age and reduce their fleets and defer investment.