Tag: equipment manufacturers: Page 7

Cummins sees slight bump in 3Q profits, but cuts outlook due to lower earnings

Despite lower earnings compared to the same quarter last year, Cummins reported a slight increase in third quarter profits thanks to improved revenues and cost reduction measures. “Material cost savings, productivity gains and lower warranty expenses all contributed to the improvement,” Tom Linebarger, Cummins chairman and CEO, said in a prepared statement. The company reported […]

October 30, 2013

Komatsu sees slight decline in sales in first half of year, cuts profit forecast by 26%

Citing a decrease in demand for mining equipment, Komatsu announced decreases in both sales and operating income for the first six months of its fiscal year. In the last six months, the company reports that net sales were down 0.6 percent to 925.1 billion yen ($9.46 billion) compared to the same period last year. Operating […]

October 29, 2013

Despite increase in 3Q operating income, Terex edges down outlook after slight decrease in sales

Following a rough second quarter, Terex announced today that despite a decrease in net sales over the same period last year, it saw improvement in operating income in the third quarter. Terex reported net sales of $1.810.6 billion in the third quarter, down 0.6 percent from $1.822.0 billion in the third quarter of 2012. Operating income […]

October 24, 2013

Caterpillar 3Q profits down 44%, cuts outlook for 2013 once more

Caterpillar is reporting another down quarter due to decreased mining demand with third quarter sales and revenues down 22.5 percent and profits down 44 percent from last year. The company announced today third quarter sales and revenues of $13.423 billion, down from $16.556 billion in the third quarter last year. Third quarter profits fell from […]

October 23, 2013

Yanmar strengthens alliance with Manitou in purchase of capital and voting rights

Yanmar announced today it has acquired 6.26 percent of the capital and voting rights of Manitou BF, strengthening a 25-year engine alliance and a North American agreement announced this past January. “It is becoming more necessary for each player to have a wide range of product line-up in today’s construction market,” said Takehito Yamaoka, Yanmar […]

October 22, 2013

Construction Equipment

After sale of roadbuilding equipment, Terex to upgrade, repurpose Oklahoma City plant

Following the sale of its roadbuilding equipment to Fayat Group earlier this year, Terex says it will upgrade and repurpose its 700,000-square-foot facility in Oklahoma City to manufacture multiple product lines. A press release issued today, however, offered no details on what Terex products would be manufactured at the facility or specific upgrade plans. Terex […]

October 16, 2013

Construction Equipment

Tim Frank announces resignation from CEO post at Sany America

After two years with the company, Tim Frank announced Monday morning that he has resigned as chairman and CEO of Sany America. The resignation was effective Friday, October 11. The announcement came to news outlets in an email sent out by Frank directing any media inquiries directly to him. “I enjoyed my time getting to […]

October 14, 2013

CNH, Fiat Industrial appoint Massimiliano Chiara CFO

Fiat Industrial and CNH Global have announced Massimiliano “Max” Chiara as the new Chief Financial Officer of both companies. The appointment of Chiara follows the recent resignation of Pablo Di Di, who left to pursue other interests. Chiara served most recently as the CFO and Head of Business Development for Fiat Automobiles Latin America (FIASA). Prior […]

August 30, 2013

Terex sells large wheel loader line to German manufacturer Atlas Maschinen

Terex has sold all intellectual properties of its large wheel loader line to German manufacturer Atlas Maschinen, according to a report from KHL. The price of the deal was not disclosed. The deal includes the TL160, TL210, TL260 and TL310. Atlas Maschinen has said it will continue the manufacturing of the machines under both the […]

August 20, 2013

John Deere sees record Q3 income of $997 million despite 11% decrease in construction sales

Thanks to higher shipment volumes and an increase in sales within its agriculture and turf division, John Deere reported a jump in income of 26 percent for its third financial quarter. Net income for the company was $996.5 million for the quarter, compared to $788 million for the same period last year. Net sales for […]

August 14, 2013

CNH 2Q net sales up 9%, operating profit up 26%

Thanks to big increases in agricultural equipment sales, CNH Global saw jumps in both net sales and operating profit in the second quarter. The company reported a year-over-year 9 percent increase in 2Q net sales to $5.5 billion and a 26-percent jump in operating profit from equipment sales to $659 million. Comprising 83 percent of […]

July 31, 2013

Komatsu sees small decline in 1Q net sales, remains confident in stronger outcome for 2013

Decreases in demand for construction and mining equipment in Indonesia and mining equipment in Latin America led to year-over-year declines in both net sales and operating income for Komatsu in the company’s first quarter, which ends March 31, 2014. However, expanded sales of construction equipment and parts in Japan and the Middle East largely compensated […]

July 30, 2013

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