Financial results: Caterpillar; Generac Holdings; H&E Equipment Services; Oshkosh Corp.; Terex Corp.

Caterpillar, Irving, Texas, reported second quarter 2023 sales and revenues of $17.32 billion, a 22 percent increase compared with $14.25 billion in the second quarter of 2022. For the first half of 2023, sales and revenues were $33.18 billion compared to $27.84 billion during the same time last year. 

Generac Holdings, Waukesha, Wis., reported $1.00 billion in net sales during the 2023 second quarter, a 23 percent decrease compared to $1.29 billion during the 2022 second quarter. Net sales for the first six months of 2023 were $1.89 billion, compared to $2.43 billion the year prior.  

H&E Equipment Services, Baton Rouge, La., reported total revenue of $360.2 million during the 2023 second quarter, up 22.2 percent compared to $294.7 million the year before. Total equipment rental revenues for the 2023 second quarter were $291.5 million, a 28.1 percent increase compared to $227.6 million in the 2022 second quarter. Total revenue for the first half of 2023 was $682.7 million compared to $567.1 million the year before. Total equipment rental revenues for the first half of 2023 were $553.5 million compared to $426.8 million the year before.  

Oshkosh Corp., Oshkosh, Wis., reported fiscal 2023 second quarter net income of $175 million, compared to $32.1 million for the fiscal 2022 second quarter. Oshkosh Corp. is the parent company of JLG Industries, McConnellsburg, Pa. The access equipment segment sales for the second quarter of fiscal 2023 was $1.33 billion compared to $977.1 million the year before. The company reported net income of $263.5 million for the first six months of fiscal 2023, compared to $31.9 million the year before. The access equipment segment sales for the first six months of fiscal 2023 was $2.52 billion, compared to $1.86 billion the year before. 

Terex Corp., Norwalk, Conn., reported $1.40 billion in net sales during the 2023 second quarter, a 30 percent increase from $1.08 billion in the 2022 second quarter. Net sales for the first six months of 2023 were $2.64 billion, compared to $2.08 billion the year prior. 

Toromont, Toronto, earned $1.17 billion in revenue during the 2023 second quarter, a 12 percent increase compared to $1.05 billion in the 2022 second quarter. Revenue during the first half of 2023 was $2.22 billion compared to $1.90 billion the year before.  

Xylem, Rye Brook, N.Y., earned $1.72 billion in the second quarter 2023 compared to $1.36 billion the year before. Revenue for the six months of 2023 was $3.17 billion compared to $2.64 billion the year before. Xylem forecasts full-year 2023 revenue in the range of $7.2 billion, up approximately 30 percent on a reported basis and up 9 to 10 percent on an organic basis.