Trending Content

Financial results: Caterpillar; Lincoln Electric Holdings; Manitou Group; Oshkosh Corp.; Terex Corp.

By Stephen Elliott

April 28, 2024

Caterpillar, Irving, Texas, reported 2024 first quarter sales and revenues of $15.8 billion compared to $15.9 billion the year before. The results were due to lower sales volume, which was mostly offset by favorable price realization, the company said.

Lincoln Electric Holdings, Cleveland, reported 2024 first quarter net sales of $981 million, a 5.6 percent decrease compared to $1.04 billion the year before.

“We achieved record first quarter earnings and cash flow generation as strong execution and effective cost management mitigated slower sales performance as we start the year,” said Steven Hedlund, president and CEO.

Manitou Group, Ancenis, France, earned €685 million (US$734.97 million) in revenue during the 2024 first quarter, up 3 percent compared to €665 million (US$713.51 million) during the 2023 first quarter.

“First-quarter revenues recorded an increase of 3 percent compared with the first quarter of 2023 in an environment of slowing markets. We are expecting stable revenues in 2024 compared with 2023, and recurring operating profit of over 6.5 percent of revenues,” said Michel Denis, president and CEO, Manitou Group.

Oshkosh Corp., Oshkosh, Wis., reported 2024 first quarter net sales of $2.54 billion, up 12 percent compared to $2.27 billion during the 2023 first quarter. Oshkosh Corp. is the parent company of JLG Industries, McConnellsburg, Pa. Net sales for the access equipment segment was $1.24 billion, up 3.7 percent compared to $1.19 billion in the 2023 first quarter. The net sales in the access segment sales were the result of higher sales volume in North America, offset in part by lower sales volume in Europe, the company said.

Terex Corp., Norwalk, Conn., earned $1.3 billion in net sales, up 4.6 percent from $1.2 billion during the 2023 first quarter. The increase was primarily driven by continued demand for the company’s products across multiple businesses, the company said.