CNH Industrial Capital outstandings up 18%
CNH Industrial Capital’s portfolio of outstandings grew in the first quarter of 2023 due to consumer demand — despite rising interest rates and increasing bank challenges. The financial services arm of equipment manufacturer CNH Industrial, CNH Industrial Capital, posted $24.5 billion
Terex maintains $4.1B backlog in Q1
Equipment manufacturer Terex Corp. maintained a backlog of $4.1 billion quarter over quarter as demand remained strong, despite continued supply chain issues and rising interest rates. Terex’s backlog for its aerial work platforms (AWP) at the end of the first quarter
United Rentals sees 26% uptick in Q1
Equipment rental company United Rentals’ saw its rental revenue bolstered by strong demand and fleet productivity in the first quarter. Rental revenue for Q1 was $2.7 billion, up 26% year over year, according to the company’s earnings release. The company’s total
Cat Financial originations down 11% YoY
Cat Financial originations declined in the first quarter due to high interest rates leading to more cash deals and increased competition from banks. Cat Financial, the finance subsidiary of equipment manufacturer Caterpillar, posted $2.5 billion in Q1 originations, a decline of
PACCAR Financial Services portfolio up 16%
PACCAR Financial Services, the finance arm of truck manufacturer PACCAR Inc., continued to grow its portfolio in the first quarter of 2023, driven by elevated prices and higher deliveries. PACCAR Financial originated $423.2 million in the first quarter of 2023, up
Huntington, Volvo Financial commercial outstandings rise as equipment market normalizes
Commercial financiers Huntington Bank and Volvo Financial Services’ commercial and industrial books grew in the first quarter as the equipment market normalizes. Huntington Bank’s commercial and institutional loan outstandings landed at $47 billion in Q1, up 4.3% quarter over quarter and
Lindsay revenues decline as ag industry normalizes
Irrigation and infrastructure OEM and technology provider Lindsay Corp. posted declining year-over-year irrigation revenue as unit volume returns to normal seasonality. Lindsay’s North American irrigation revenue for the second quarter of 2023 were $90.4 million, down 10.2% from Q2 last year,
Trinity Capital’s equipment financing portfolio up 9.6% YoY
Trinity Capital grew its equipment financing portfolio in 2022 amid record commitments and deployments. Equipment financing investments totaled $29 million in the fourth quarter, down 35% quarter over quarter and 59.9% year over year, according to Equipment Finance News analysis of Trinity’s
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
Tight financing spreads push down John Deere Capital income
Less favorable financing spreads pushed down John Deere Capital Corp.’s net income in the first quarter of fiscal 2023, prompting the company to revise the income outlook for its global finance arm. JDCC income clocked in at $185 million, down 19%
