Finning is Down in Second Quarter

Finning posted $68 million in rental revenue in the second quarter, compared to $86 million in the second quarter in 2014, a 21-percent slide.
Aug. 14, 2015

Finning posted $68 million in rental revenue in the second quarter, compared to $86 million in the second quarter in 2014, a 21-percent slide. For the first six months of 2015, its rental revenue was $139 million, compared to $174 million last year, a 20-percent plunge.

In Canada, rental revenues declined 32 percent year over year because of increased competition and a slowdown in the short-term rental market.

Total revenue for Finning, the world’s largest Caterpillar dealer, was $1.656 billion, compared to $1.768 billion a year ago, a 6-percent decrease. The decrease was driven by lower activity levels in Canada and South America.

Finning finalized its acquisition of Kramer Cat, the Caterpillar dealer in Saskatchewan.

Finning is No. 13 on the RER 100.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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