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Tag: Finning International
Dealers
Finning posts 24% boost in 2Q revenues driven by new equipment sales
Strong results in most of its markets prompted a 24-percent increase in 2Q revenues, reports Finning International. “We are pleased with strong equipment sales in all our regions,” says Scott Thomson, president and chief executive officer of Finning. “While we have not seen the benefit of large infrastructure projects or mining investment yet, we are […]
August 19, 2019
Dealers
Largest Cat dealer Finning Q2 revenue jumps 21%
Second quarter revenue for the largest Caterpillar distributor Finning International jumped 21 percent to $1.58 billion, compared to the same period last year, driven by a 46-percent increase in new equipment sales on a consolidated basis. The company also cites product support revenue growth of 13 percent, indicating all operations reported higher parts demand. “Our […]
August 15, 2017
Dealers
Business Roundup: Ritchie Bros. cleared for IronPlanet purchase; OSHA injury reporting rule suspended; Finning Q1 earnings; Takeuchi adds Kirby-Smith; Digga partners with Berlon
DOL suspends OSHA rule requiring companies electronically report injuries and illnesses The Department of Labor has suspended an Occupational Safety and Health Administration (OSHA) rule requiring companies to electronically report injury and illness records, which keeps the records from being publicly disclosed, The Washington Post reports. The rule, which took effect Jan. 1, requires employers to send in their summary data […]
May 30, 2017
Dealers
Finning International Q1 2017 revenue down, but earnings up dramatically
Finning International, the Vancouver-based parent company of Finning Cat, the world’s largest Caterpillar dealer, reports a 6 percent decrease in revenue for the first quarter of 2017, but a 37 percent increase in earnings before interest, tax, depreciation and amortization (EBITDA) compared to the same period in 2016. Net income fared even better, with a […]
May 17, 2017
Dealers
Largest Cat dealer Finning sees 22% decline in 2Q revenues
Vancouver-based Finning International, the world’s largest Caterpillar dealer, recently reported its second quarter 2016 results, with significant reductions in selling, general and administrative expenses and improvements in free cash flow, but a 22-percent drop in revenues from all operations. “The second quarter results demonstrated the benefit of actions taken to improve our operating performance and […]
September 7, 2016
Dealers
Finning, world’s largest Cat dealer, to cut 1,100 jobs due to weak equipment sales
In the face of slumping demand, Canadian Caterpillar dealer Finning International Inc. has announced it will make significant workforce reductions to cut costs. Finning will cut approximately 1,100 employees—8 percent of its workforce. The company says by the end of 2015 it will have reduced its workforce by 13 percent or 1,900 employees. Since mid-2013 […]
November 16, 2015
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