US equipment industry eyes electrification
LAS VEGAS — Electrification in the equipment industry is building slowly in the United States but trails years behind Europe, which outpaces U.S. EV sales by about 2.5 million vehicles. “The biggest trend right now is electrification,” DLL Head of Regional
Equipment auction volume jumps as supply improves
LAS VEGAS — Equipment auction volume is increasing amid rising inventory levels and seasonality trends. “Auctions are growing; you’re going to see a lot more equipment rolling through auction,” said Mitch Helman, sales manager at AuctionTime, EquipmentFacts and HiBid — subsidiaries
H&E Equipment Services posts record rental revenue
H&E Equipment Services logged record rental revenue in the fourth quarter of 2022 due in part to favorable industry conditions and successful growth for the company. H&E recorded rental revenues of $245.0 million, up 34.6% year over year. For the full
Terex Corp. ends 2022 with $4.1B backlog
Equipment manufacturer Terex Corporation posted an increase in total backlog orders in 2022 as demand held steady across its aerial work platform and material processing segments. The company reported a record $2.9 billion backlog for their aerial work platforms (AWP) to
Cat Financial revenues jump despite drop in new business volume
Cat Financial, the finance subsidiary of equipment manufacturer Caterpillar, posted increased revenues despite declining new business volume thanks to favorable interest rates. For the full year, Cat Financial posted $11.4 billion in originations, a decline of 13.3% from 2021, according to
H&E Equipment Services to sell Komatsu earthmoving distributorship
H&E Equipment Services is set to sell its Komatsu earthmoving distribution business to Houston-based Waukesha-Pearce Industries (WPI), furthering H&E’s move to focus on its rental business. The value of the deal, which is expected to close by the end of the
Alta Equipment Group revenue surpasses $1B
Alta Equipment Group year-to-date revenue surpassed $1 billion in the third quarter, matching its revenue for the full year 2021. Construction segment revenue clocked in at $249.7 million, up 35.7% YoY from $184.7 million, according to the company’s Q3 earning’s presentation
