The Industry Is Still Full Steam Ahead - Industry Beat
Construction Equipment Distribution magazine is published by the Associated Equipment Distributors, a nonprofit trade association founded in 1919, whose membership is primarily comprised of the leading equipment dealerships and rental companies in the U.S. and Canada. AED membership also includes equipment manufacturers and industry-service firms. CED magazine has been published continuously since 1920. Associated Equipment Distributors
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The Industry Is Still Full Steam Ahead

CED Magazine June 2006

Article Date: 06-01-2006
Copyright(C) 2008 Associated Equipment Distributors. All Rights Reserved.

Manufacturers report double-digit growth.

The construction equipment industry has continued its upward trend through first-quarter 2006.

Among the more positive reports, Caterpillar reported a 48-percent increase in first-quarter profit per share, as well as a 13-percent increase in first-quarter sales and revenues. Sales and revenues increased $1,053 billion from the same period a year ago.

First quarter sales for Volvo Construction Equipment increased 30 percent and earnings increased - 49 percent compared to the same period in 2005. According to Volvo, in the first quarter of 2006, the total world market for construction equipment within the company's product range increased 6 percent.

Gehl reported net sales increased 12 percent in the first quarter. And the company reported record first-quarter income of $6.4 million, compared with $4.9 million in 2005. Operating profit was $11.3 million, or 9.2 percent of net sales, compared to $8.4 million, or 7.7 percent of net sales, in first-quarter 2006.

Also in double digits, Ingersoll Rand reported a 19-percent increase in earnings per share and a 10-percent increase in revenue. For the first quarter, the company's net earnings were $253.2 million.

CNH Global reported first-quarter 2006 net income of $43 million, compared to net income of $15 million in the first quarter of 2005. Net sales of construction equipment were approximately $1.0 billion for the first quarter, an increase of 14 percent compared to approximately $0.9 billion in the first quarter of last year.

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