Finning International; Generac Power Systems; H&E Equipment Services; John Deere

Feb. 21, 2021

Finning International, Vancouver, British Columbia, Canada, earned C$1.7 billion (US$1.3 billion) in revenue during the 2020 fourth quarter, down 13 percent compared to C$1.9 billion (US$1.5 billion) the year before. During the 2020 full year, revenue was C$6.2 billion (US$4.9 billion), down 21 percent compared to C$7.8 billion (US$6.1 billion) in 2019.

Generac Power Systems, Waukesha, Wis., earned a record $761.1 million in net sales during the 2020 fourth quarter, up 29 percent compared to $591 million the year before. During the 2020 full year, the company earned a record $2.5 billion in net sales, up 13 percent compared to $2.2 billion in 2019. “We continued to experience incredible demand for our home standby generators due to significantly higher power outage activity in recent quarters and the ‘Home as a Sanctuary’ trend gained further traction, resulting in substantial backlog for these products as we enter 2021,” said Aaron Jagdfeld, president and CEO.

H&E Equipment Services, Baton Rouge, La., reported fourth quarter 2020 revenue of $315.6 million, down 9.3 percent compared to $348.1 million a year ago. Total equipment rental revenues for the 2020 fourth quarter were $166.8 million, down 13.9 percent compared to $193.8 million last year. Revenue during the 2020 full year was $1.2 billion, down 13.3 percent compared to $1.3 billion in 2019. Total equipment rental revenues for 2020 were $663.0 million, down 13.5 percent compared to $766.4 million in 2019.

John Deere, Moline, Ill., reported net income of $1.224 billion for the first quarter, compared to $517 million the year before. “Our results were aided by outstanding performance across our business lineup and improving conditions in the farm and construction sectors. In addition, our smart industrial operating strategy is making a significant impact on the company’s results while it also helps our customers be more profitable and sustainable,” said John May, chairman and CEO.

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