H&E opens new branch in the Denton area
H&E Rentals has announced the opening of its Denton branch, the seventh general rental location in the Dallas-Fort Worth metro area. Since this time last year, H&E has opened 17 new branches across the country – six of them in Texas – and acquired nine others. The facility is located at 1001 Prosperity Way, Krugerville, TX 76227-6152, phone 940-398-1300. It includes a fully fenced yard area, offices, and a repair shop and carries a variety of construction and general industrial equipment. “The location of our new Denton branch gives H&E expanded coverage of the greater Dallas-Fort Worth area, especially the growing market north of the metroplex. The facility covers the territory between our established Fort Worth and McKinney branches, so customers in outlying areas have more convenient service,” says Branch Manager Jess Trussell. “By adding coverage to the northwest side of Dallas, we can source equipment faster from an expanded fleet and provide the specific unit that is needed. Our facility is situated near major roadways, so we’re able to move equipment to customer job sites quickly.” The Denton branch specializes in the rental of aerial lifts, earthmoving equipment, telescopic forklifts, compaction equipment, generators, light towers, compressors, and more and represents the following manufacturers: Allmand, Atlas Copco, Bomag, Case, Club Car, Cushman, Doosan, Gehl, Generac Mobile, Genie, Hamm, Hilti, Husqvarna, JCB, JLG, John Deere, Kobelco, Kubota, LayMor, Ledwell, Lincoln Electric, Link-Belt Excavators, MEC, Miller, Multiquip, Polaris, Sany, Skyjack, SkyTrak, Sullair, Sullivan-Palatek, Tag, Towmaster, Unicarriers, Wacker Neuson, Yanmar, and others. Founded in 1961, H&E is one of the largest equipment rental companies in the nation, providing a higher standard in equipment rentals. Branches are located throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast, Southeast, Midwest, and Mid-Atlantic regions.
Innovative forklift operator assist solution recognized with three prestigious awards
Yale Lift Truck Technologies announces that the first-of-its-kind Yale Reliant™ operator assistance system is the winner of three awards, adding to the list of accolades that recognize the solution for helping to address unique operational safety risks in warehouses and other material handling operations. The technology reinforces lift truck operating best practices and supports operator awareness to help reduce the risk of accidents and close calls like a pedestrian unexpectedly walking in front of a lift truck or an operator traveling too quickly around turns. The technology was named one of the best-designed industrial products of the year by the GOOD DESIGN Awards, marking the 12th time the brand has been recognized by the program. For more than 70 years, the GOOD DESIGN Awards have honored the achievements of some of the best industrial designers and manufacturers in the world for their pursuit of design excellence. The solution was also honored by the Best in Biz Awards as one of the year’s most innovative business-to-business solutions, joining previous winners from organizations such as Adobe, AT&T and Ernst and Young. The Best in Biz Awards are judged by editors and reporters from publications such as The Associated Press, Wired and The New York Times. Yale Reliant was also named a winner in the warehouse automation category of the Top Software and Technology Solutions Award by Supply & Demand Chain Executive and Food Logistics, two leading industry trade publications. The award spotlights solutions that provide automated support and efficiency to the supply chain. Yale Reliant keeps the operator in ultimate control of the lift truck, but automatically applies interventions in response to compromised stability, when obstacles are detected in the path of travel or in close proximity, and even based on rules customers specify for certain areas of their warehouse. Adjustments, such as a reduction to travel speed or a smoothing of forklift or tilt movement, are carefully measured to avoid abrupt shifts or jerks that can upset stability. The changes remain noticeable enough for operators to feel, and the system also communicates the cause through a display screen, providing an additional layer of feedback to help reinforce proper operation established during training. “As the persistent labor crisis has given rise to an influx of inexperienced lift truck operators and higher-than-average injury rates within warehouses, we have been laser-focused on developing and expanding access to solutions that can help operations curb safety risks and protect productivity,” said Brad Long, Brand Manager, Yale Lift Truck Technologies. “These award wins are proof of the technology’s real-world value for warehouses as they seek tools that can help them protect their employees, inventory and bottom line.” Yale Reliant was recently made available on an additional 16 models, bringing the overall lineup to 59 lift truck models. The technology is a result of more than 40,000 hours of research and development, and has been deployed on 6,000 lift trucks in real-world operations.
Atlas Companies acquires Badger Toyotalift
The Atlas Companies has acquired Badger Toyotalift of New Berlin, WI, effective October 1, 2023. In a memo from Atlas president and CEO Al Rawson welcomed the team members of Badge Toyotalift to the Atlas Companies. Badger ToyotaLift opened for business in 1969 and services the forklift and material handling needs of Southern Wisconsin. Since its inception, they have expanded its services and product offerings to create a comprehensive forklift dealership that allows it to fulfill the needs of its customers. Atlas Toyota Material Handling is an authorized Toyota Forklift Dealer committed to providing quality service, premium equipment, and innovative solutions for companies of all sizes. Supplying Illinois (Chicagoland), Minnesota, Wisconsin, and Northwest Indiana with the largest inventory of forklifts in the nation, Atlas Toyota is a complete resource for all your material handling needs. On July 1, 2020, the Atlas Companies acquired Minnesota material handling company Toyota-Lift of Minnesota, Inc.
Bobcat reveals backyard makeover contest winners transformed outdoor space
Transformation demonstrates the possibilities for creating a dream backyard using Bobcat equipment Turlock, Calif., resident Julie Rummer now has her dream backyard thanks to the Bobcat backyard makeover contest. Last summer, Bobcat Company announced that Rummer had won the contest, which awarded her a $25,000 backyard makeover using Bobcat equipment. Rummer survived a car crash in 1995 that left her paralyzed as a quadriplegic and dependent on a power wheelchair. An avid gardener, Rummer loved to spend time in her backyard, but navigating loose, dusty soil and thorny vegetation in her backyard became a challenge. She described the yard as an “eyesore, a big disaster” and an “embarrassment.” Winning the contest has completely transformed her backyard into a wheelchair-accessible “paradise,” according to Rummer’s husband Rich. With the help of Bobcat and the use of equipment from local dealer Bobcat Central, Inc., as well as the work of area contractors and friends and family, Julie’s dreams became a reality. “I just feel happy; it’s a happy place to be,” she said about her new backyard. “I can’t even shut the curtains at night, the backyard is so beautiful. Having complete access to nature and my garden is freedom.” The backyard makeover demonstrated the power of Bobcat equipment to get the job done, transforming the overgrown and compact backyard into an accessible and aesthetic space for the Rummer family. “The team at Bobcat is thrilled that we could help Julie achieve her dream of a wheelchair-accessible backyard with room to garden, entertain and get away,” said Laura Ness Owens, Doosan Bobcat vice president of brand and marketing. “Bobcat exists to empower people to accomplish more, and this is a perfect example of doing just that. We hope others are inspired by this transformation and recognize the potential in their own outdoor spaces.” Rummer’s project was kicked off by using a Bobcat skid-steer loader to prepare the area, as well as the demolition and removal of an existing patio, which made room for a new ramp that the Rummers needed for their back door. Tree removal, relocation and planting was done by HIS Tree Service and concrete work preparations by Ultimate Concrete. Then came Bobcat Central with a Bobcat MT100 mini track loader to complete work in the fenced-in area. Crews installed concrete paths, which was preferred for accessibility rather than stone pathways or a patio. The finished landscaping includes a water and irrigation system, new drought-tolerant plants, compost and fertilizer. New cedar mulch was placed to prevent weeds and hold moisture during the summer. After additional lighting, a fire pit, sound system and other items were installed, the job was done. When Rummer submitted her contest application, she did not have her hopes up. However, when her story was chosen as a finalist entry, her community rallied to show support and help Rummer win the grand prize. “I appreciate everyone’s vote and everybody who picked up a shovel or lent a hand clearing, shredding, spreading,” Rummer said. “Every day can be a challenge for me, but the kindness, love and support from everyone during this process just fills my heart. So, thank you, Bobcat, for empowering me and making my backyard dream come true.”
Oshkosh Corporation to acquire AUSA
Complementary product portfolio deepens market reach, builds on partnership with JLG Oshkosh Corporation has announced it has entered into a definitive agreement to acquire AUSACORP S.L. Upon closing, AUSA will become part of the Oshkosh Access segment. “AUSA’s history of producing high-quality, purpose-built equipment aligns with our Innovate. Serve. Advance. strategy, allowing us to broaden our product offerings in both current and adjacent markets,” said John Pfeifer, Oshkosh Corporation’s president and chief executive officer. “We look forward to welcoming the AUSA team into the Oshkosh family.” AUSA products will enhance the JLG® line of telehandlers, as well as Hinowa tracked dumpers and forklifts to strengthen the Access segment’s portfolio of equipment. The companies began working together through a partner agreement in 2020, with AUSA manufacturing the JLG-branded SkyTrak ® 3013 compact telehandler. “We are excited to join forces with a proven partner like AUSA,” said Mahesh Narang, executive vice president, Oshkosh Corporation, and president, Access. “Combining our advanced technology capabilities and robust training, support, and service infrastructures will allow us to better serve customers and enable targeted growth.” “We constantly pursue excellence in our products, services and business,” said Ramon Carbonell, AUSA’s chief executive officer. “A deeper relationship with Oshkosh will expand the reach of our products, which is an objective our companies share.” AUSA, which was founded in 1956 in Barcelona, Spain, reported sales of approximately $132 million euros in 2023. The company’s nearly 350 team members and 600 dealers bring with them a long history of innovation, quality, and customer service. The AUSA acquisition supports the Oshkosh accelerated growth strategy. The transaction, which is subject to customary closing conditions, is expected to close within 90 days.
The new SENNEBOGEN Maxcab is modern and comfortable
Operator comfort is a priority at SENNEBOGEN, as the operator spends many hours in the cab every day. The maXcab is designed to make working in the machine as pleasant and easy as possible for the operator. The extensive cab update ideally rounds off the new features of the G-series and once again sets new standards. Comfort seat and climate seat In addition to the back-friendly comfort seat with air suspension adapted to the driver, individual ergonomic adjustment options such as adjustable armrests and optimally positioned controls ensure maximum comfort while driving. The optional air-conditioned comfort seat also contributes to this. Comfort audio system Noise is an omnipresent problem that machine operators are exposed to on a daily basis. The new SENNEBOGEN Comfort Audio System offers the solution: its advanced Active Noise Canceling technology can reduce harmful noise by up to 50 percent while providing a high-quality communication system. The optional SENNEBOGEN radio helmet enables easy communication with workers outside the machine via radio. The advantage here: no annoying cables, as the radio can be charged via USB cable. In addition, ambient noise is muffled by the microphone. Air conditioning and air flow In addition to the innovations already mentioned, the SENNEBOGEN maXcab is particularly impressive due to its large number of air nozzles. A total of 10 built-in air glands ensure even air circulation and a well-tempered workplace – whether in summer or winter. Driver support through safety cameras Important operating parameters and clear text displays of error messages for quick troubleshooting are clearly visible on the camera display. The driver is supported in his work by safety cameras – he can conveniently monitor the danger zone via the monitor system in the cab. In addition, the retrofittable Backeye360 camera system with its four cameras detects people and eliminates blind spots. A wide range of safety guards for every application provide additional safety for the driver, while bright LED headlights ensure safe working even in difficult lighting conditions. Amenities for the driver: sun visor, USB & cool box The cab is often not only the driver’s workplace but also their own personal space. This is why SENNEBOGEN attaches great importance to the driver’s well-being and integrates additional features into the maXcab, such as the sun visor, which provides improved visibility and protection from dazzling sunlight. The 12V, 24V and USB charging sockets make it easy to charge electronic devices directly in the cab, while an integrated cool box keeps drinks and snacks cool even in hot outside temperatures. Entertainment and safety for the driver is provided by the built-in radio, which has Bluetooth and USB functions in addition to an integrated hands-free system. Some customers had the opportunity to see the advantages of the new maXcab for themselves at the SENNEBOGEN Operators’ Xperience driver’s day in February. The outcome was overwhelmingly enthusiastic about the outstanding comfort of the cab.
Alta Equipment Group announces First Quarter 2024 financial results
First Quarter Financial Highlights: Total revenues increased $20.9 million year over year to $441.6 million Construction and Material Handling revenues of $255.6 million and $174.3 million, respectively Product support revenues increased 6.5% year over year with Parts sales rising to $72.9 million and Service revenues increasing to $64.0 million New and used equipment sales grew 4.1% year over year to $228.6 million Net loss available to common stockholders of $(12.7) million Basic and diluted net loss per share of $(0.38) Adjusted basic and diluted net loss per share* of $(0.22) Adjusted EBITDA* of $34.1 million Alta Equipment Group Inc., a provider of premium material handling, construction, and environmental processing equipment and related services, has announced financial results for the first quarter ended March 31, 2024. CEO Comment: Ryan Greenawalt, Chief Executive Officer of Alta, said “Our first quarter results, in line with history and expectations, once again reflected the seasonal nature of our business as the winter weather impacted the Construction Equipment segment in our northern regions. Despite the seasonality, we were able to achieve $441.6 million of revenues for the quarter, up $20.9 million from the same period last year. Additionally, activity-related key performance indicators presented well for the quarter and our combined product support and rental revenues grew $6.3 million, or 3.7%, on an organic basis when compared to Q1 2023, reflecting the resilience of our end markets and continued elevated levels of activity and equipment utilization in our customer base. While new and used equipment sales in our core lift truck and construction segments increased $29.3 million from a year ago, equipment revenue mix negatively impacted equipment sales margins overall. Specifically, Ecoverse’s high-margin equipment sales were down $14.4 million versus the first quarter of last year on a record sales comparison, as Ecoverse was replenishing its sub-dealers’ inventories in the first quarter of 2023 amidst OEM equipment supply chain normalization. Additionally, within our Material Handling segment, our Peaklogix subsidiary, which sells high-margin automated warehouse system solutions, was down $8.7 million when compared to last year as its customer base has been impacted by the elevated level of interest rates leading to elongated capex decision making. While we believe the Peaklogix business will continue to be impacted by ‘higher for longer’ interest rates, we are confident that the Ecoverse variance in the first quarter is isolated as its customer base, which is focused on waste management, organics processing and composting, continues to realize solid annualized growth and equipment utilization remains strong.” Mr. Greenawalt added, “As we emerge from the weather-impacted first quarter and into construction season in the north, we remain bullish about the backlog of work and general activity levels at our customers for the remainder of 2024, which we believe will bode well for our product support and rental business lines, both of which experienced their natural seasonal increase in April. That said, we believe new equipment sales and sales profit margins, which have ebbed and flowed quarter to quarter historically, could be impacted over the remainder of the year by the increase of new equipment supply on the market and competitive pricing pressures. Nevertheless, we intend to continue to win our share of equipment deals by selling our overall dealership capabilities and what we believe to be an industry-leading value proposition.” In conclusion, Mr. Greenawalt commented, “Despite the potential for choppiness in new equipment sales, we remain positive regarding our opportunities this year and will continue to focus on customer equipment ‘uptime’ relative to our product support business lines as well as our absorption ratio and cost optimization. Industry indicators continue to be supportive of medium and long-term growth in our end-user markets. We have a solid equipment backlog in our Material Handing segment and our Construction Equipment business will benefit from strong non-residential construction activity, increased state DOT budgets and accelerated spending on federal infrastructure programs for years to come. I sincerely want to thank all of our employees for their hard work in the first quarter. I am grateful for their dedication to our Guiding Principles and for providing best-in-class service to our customers.” Full Year 2024 Financial Guidance and Other Financial Notes: The Company adjusted the top end of our 2024 guidance range and now expects to report Adjusted EBITDA between $207.5 million and $212.5 million for the 2024 fiscal year. CONDENSED CONSOLIDATED RESULTS OF OPERATIONS (Unaudited) (amounts in millions unless otherwise noted) Three Months Ended March 31, Increase (Decrease) 2024 2023 2024 versus 2023 Revenues: New and used equipment sales $ 228.6 $ 219.6 $ 9.0 4.1 % Parts sales 72.9 68.4 4.5 6.6 % Service revenues 64.0 60.2 3.8 6.3 % Rental revenues 48.5 43.5 5.0 11.5 % Rental equipment sales 27.6 29.0 (1.4 ) (4.8 )% Total revenues 441.6 420.7 20.9 5.0 % Cost of revenues: New and used equipment sales 192.4 179.0 13.4 7.5 % Parts sales 48.3 45.4 2.9 6.4 % Service revenues 27.0 25.1 1.9 7.6 % Rental revenues 6.7 6.1 0.6 9.8 % Rental depreciation 27.1 22.9 4.2 18.3 % Rental equipment sales 19.5 20.9 (1.4 ) (6.7 )% Total cost of revenues 321.0 299.4 21.6 7.2 % Gross profit 120.6 121.3 (0.7 ) (0.6 )% General and administrative expenses 114.6 104.0 10.6 10.2 % Non-rental depreciation and amortization 6.9 5.2 1.7 32.7 % Total operating expenses 121.5 109.2 12.3 11.3 % (Loss) income from operations (0.9 ) 12.1 (13.0 ) (107.4 )% Other (expense) income: Interest expense, floor plan payable – new equipment (2.8 ) (1.5 ) (1.3 ) 86.7 % Interest expense – other (13.3 ) (10.5 ) (2.8 ) 26.7 % Other income 0.9 1.0 (0.1 ) (10.0 )% Total other expense, net (15.2 ) (11.0 ) (4.2 ) 38.2 % (Loss) income before taxes (16.1 ) 1.1 (17.2 ) NM Income tax (benefit) provision (4.2 ) 0.1 (4.3 ) NM Net (loss) income (11.9 ) 1.0 (12.9 ) NM Preferred stock dividends (0.8 ) (0.8 ) — — Net (loss) income available to common stockholders $ (12.7 ) $ 0.2 $ (12.9
KION North America and Fox Robotics announced non-exclusive strategic partnership
KION North America (KION NA), manufacturer of Linde Material Handling equipment, and Fox Robotics have entered into a non-exclusive partnership wherein KION NA will manufacture and assemble FoxBot autonomous trailer loader/unloaders (ATLs) at its facilities in Summerville, South Carolina. “We are at a pivotal moment in the logistics and transportation industry, where innovation is key to addressing some of the most pressing challenges we face. Specifically, in the realm of automated trailer loading and unloading, the last remaining piece of the end-to-end warehouse automation puzzle, Fox Robotics stands out by far as the dominant leader with the most robust AI/ML algorithms, tech stack, and deployed robot fleet we’ve ever seen,” comments Jonathan Dawley, President and CEO at KION North America. “We are delighted to announce our collaboration with Fox Robotics to launch this groundbreaking product in the U.S. market. This partnership signifies a major leap forward in our commitment to enhancing efficiency, safety, and reliability in our customers’ operations.” “Fox Robotics is scaling and expanding its supply chain capabilities significantly via the partnership with KION North America,” said Marin Tchakarov, CEO and President at Fox Robotics. “Our traction in the marketplace is tremendous, and Fox Robotics is at an inflection point in its growth arc. We are experiencing unprecedented demand and have a massive list of bookings for Fox Robotics products and solutions. The partnership with KION NA will most certainly pave the way to capture all this commercial growth.” The FoxBot autonomous forklift is the world’s first Class 1 electric, stand-up autonomous forklift designed for load/unload operations on warehouse loading docks. Classified as an autonomous mobile robot (AMR), the FoxBot robotic forklift automates various operator tasks to improve workplace safety, increase productivity, and enhance employee satisfaction. The company started selling ATLs commercially in 2019 and is the first mover in the category. Recently, Fox Robotics announced that its installed base of FoxBot ATLs has processed nearly 3 million pallet pulls to date. “The logistics space is the single biggest market for automation for the next ten years. Converting the shipping and receiving dock, the gateway to the warehouse, from a manual operation to an automated one will drive the greatest growth and change,” said Till Reuter, Board Director for Fox Robotics and former CEO of Kuka Robotics. “Fox Robotics is poised to capture this growth in automation as the dominant leader in this space and the first one to deliver on the promise of true end-to-end automation of the warehouse of the future.”
Yale announces expanded dealer territory for LiftOne
Hyster-Yale Group, Inc., Yale Lift Truck Technologies has announced LiftOne® will be appointed the authorized Yale® dealer for all territory served by WMH Solutions, formerly known as Wheeler Material Handling. The territory change becomes effective June 1, 2024, expanding LiftOne’s existing Yale territory across portions of North Carolina, South Carolina, Alabama, Georgia, Tennessee, and Virginia, served by 20 locations. Yale Lift Truck Technologies is committed to solving customers’ toughest labor, safety, and productivity challenges through innovation in the warehouse and technology space. LiftOne has been integral in progressing Hyster-Yale’s distribution strategy, and this territory expansion will accelerate the realization of Yale’s commitment to excellence in delivering warehouse solutions. “LiftOne has a proven record of customer satisfaction as a Yale dealer, regularly recognized as Dealer of Excellence for extraordinary customer sales and service support in a dynamic material handling industry,” says Bob Sattler, Vice President of Dealer Business Development and Financial Services, Yale. “It is imperative that we have the right dealer partners who are willing to invest with us to ensure the best customer experience and outcomes. Since 2012, LiftOne has demonstrated its ability to grow with us, while never losing sight of its strong, family-owned values.” “Our sales and support teams are eager to welcome customers and facilitate a smooth transition,” says Mark Drummond, President, LiftOne. “As Yale works to bring the most advanced, technology-driven lift truck solutions to market, our commitment is to be the trusted resource for all aspects of material handling operations and help our customers get the most out of robotics, telematics, electric power, and more. To meet the needs of this expansion, we are bolstering parts stock, increasing equipment inventory, enhancing rental investment, and expanding our team of factory-trained technicians from 650 to over 700.”
Toyota Industries Corporation launches Toyota Automated Logistics Group to house acquired companies
Toyota Industries Corporation (TICO) has launched Toyota Automated Logistics Group (TALG) to house its existing subsidiary, Toyota L&F, alongside the companies it acquired in 2017 (Bastian Solutions and Vanderlande) and 2022 (viastore). As a result, it has increased its presence in all integrated and automated projects worldwide and capitalized on the synergies between the respective organizations and the added value they offer to the market. TALG’s company name has been created to reinforce the added value of the reliability, stability, commitment and security of TICO as the group’s parent company. In addition, customers will benefit from the wide portfolio which ranges from the integration of automated solution projects to end-to end automated solutions offered by the four group companies to the global logistics market. As a global partner for integrated logistic process automation, TALG is committed to helping customers meet the challenges specific to their industries by incorporating its integrated portfolio of scalable systems, intelligent software and life-cycle services. With a full range of automated logistic solutions – from receiving to shipping – TALG supports all aspects of its customers’ manufacturing facilities, distribution centres and airports. It also complements the worldwide logistic solutions and high-quality products, such as forklift trucks and warehouse equipment, offered by the Toyota Material Handling Group. While Toyota L&F focuses on the development of reliable and efficient systems to improve customers’ logistic processes, Bastian Solutions provides added value to companies of all sizes through leading technology resources and strong system integration capabilities. Furthermore, Vanderlande meets the complex challenges faced by businesses with the provision of sustainable and future-proof logistic process automation, while viastore provides customers with guaranteed success through customised warehouse and material flow logistic solutions. “As a group, TALG is not only trusted to improve the competitive position of our customers, but also confirm our status as a leading global player in integrated logistic process automation,” says Nerio Wakabayashi, Senior Executive Officer of TICO. “Wherever we operate in the world – and whatever the industry – through a combination of innovation, integration and automation, the Toyota Automated Logistics Group stays true to its guiding principle: for every challenge, a reliable solution.”
Hyster-Yale Group provides students with real-world AI experience in 2024 Kellogg Design Challenge
Representatives from HYG and Northwestern University judged submissions from 16 teams of MBA and engineering students in multi-stage innovation competition Representatives from Hyster-Yale Group joined Northwestern faculty from the Kellogg School of Management and Segal Institute for Design Innovation and industry leaders like IDEO, PwC and IA Collaborative to facilitate the 2024 Kellogg Design Challenge. As the platinum sponsor, Hyster-Yale provided the theme for this year’s competition, AI x Design, which emphasizes the use of artificial intelligence to enhance the design and development process of new products, potentially reducing the time and effort involved by up to 50%. “Our focus is fostering innovation to push forward how materials are moved and help address the most pressing challenges facing supply chain operations,” says Ed Stilwell, Chief Technologist of Innovation, Hyster-Yale. “As we pursue that mission, the Kellogg Design Challenge is an outstanding opportunity to tap into some of the brightest young minds. Not only is this an important step to harnessing the power of leading-edge technology to drive change, it supports our approach of hiring the best talent and developing them into the future leaders of tomorrow.” Approximately 90 graduate students from Northwestern, Parsons, Carnegie Mellon, University of Chicago, Imperial College London, Cornell, UCLA and Dartmouth competed in the multi-stage event. Throughout the month of April, the competition included a Q&A with Hyster-Yale innovation representatives, workshops with innovation partners and the main Kellogg Design Challenge Day, featuring presentations from all competitors, speaker sessions and networking opportunities. Students from Cornell University Johnson School of Business won first place for their exceptional “EZ Requirement Assistant,” showcasing a deep understanding of user needs and innovative problem-solving, while also demonstrating the potential for real time and cost savings. In addition to awarding cash prizes to the first, second and third place teams, this year’s edition included a bonus prize for the most human-centric and inclusive design, which was awarded to students from Northwestern Kellogg. Members of the Hyster-Yale innovation team, together with the other competition judges, evaluated the semi-finalists on their design research, solution design, business impact and innovation pitch. “We want to thank the Kellogg Design Challenge team, and the graduate students from reputed universities for their outstanding engagement in making the Kellogg Design Challenge an incredible success,” says Dr. Gopi Samayajula, Senior Vice President of Global Product Development, Hyster-Yale. “This year’s competition pushed them to build around the challenges of tomorrow’s technology-driven solutions and make a real impact on the design and development process of new products by leveraging emerging AI technologies – potentially reducing the effort involved by up to 50%.” The Hyster-Yale innovation team focuses on developing advanced technologies for materials handling operations and accelerating the adoption of these technologies in commercial applications. Between the Yale® and Hyster® lift truck brands, the company’s deployed emerging technology base includes over 500 automated lift truck units and more than 6,000 lift trucks with the company’s patented operator assistance technology. In addition to the Kellogg Design Challenge, Hyster-Yale has several longstanding collaborations with academic and career development programs across the country. The company’s Innovation Lab operates at the Shiley-Marcos Center for Design and Innovation at the University of Portland, and is a model for other industry-university cooperation, immersing students in real-world engineering and product development projects. The company also works with colleges in communities where it operates, such as East Carolina University, Berea College, Eastern Kentucky University and the University of Kentucky, to sponsor senior capstone projects and provide mentorship and internship opportunities. Hyster-Yale also serves alongside companies such as Lockheed Martin and Lexmark on the Eastern Kentucky University engineering advisory council.
Supervisory Board Extends CEO Rob Smith’s contract
Contract extended by five years until end of 2029. Hans Peter Ring, Chairman of the Supervisory Board: “Under Rob Smith’s proven leadership we will open the next chapter of the success story of KION.” The Supervisory Board of KION GROUP AG has extended Chief Executive Officer Rob Smith’s (58) contract by five years, ensuring his leadership until December 31, 2029. This decision underscores the Board’s unwavering confidence in Smith’s strategic vision, operational expertise, and ability to drive sustained value for the shareholders, customers, and employees. “On behalf of the Supervisory Board I am glad that we can continue our trusted relationship with Rob Smith. I am confident that under Rob‘s proven leadership we will open the next chapter of the success story of KION”, says Hans Peter Ring, Chairman of the KION Supervisory Board. “I would like to thank the Supervisory Board for placing trust in me. I look forward to continuing to lead KION Group’s path to sustainable and profitable growth”, says Rob Smith. “Together with our team of the Executive Board and our more than 42,000 employees around the world, we want to shape the future of supply chains globally. We will keep delivering on our business priorities and seize the opportunities offered by our markets and technological innovation.” Before joining KION, Rob Smith was President & CEO of the publicly listed Finnish group Konecranes, a leading international manufacturer of industrial cranes and container port automation. From 2013 to 2019, he was Senior Vice President & General Manager Europe, Africa and Middle East of the global agricultural machinery company AGCO Corporation. Prior to that, he held management positions in automotive supply and capital goods companies in the U.S., France and Germany. Smith holds a BSE in Systems Engineering from Princeton University, an MBA in International Operations & Finance from the University of Texas at Austin – Red McCombs School of Business. He earned his Diplom-Kaufmann and Dr. rer. pol. degrees from the WHU – Otto Beisheim School of Management in Koblenz, Germany and wrote his dissertation on Global Supply Chain Performance and Risk Optimisation.
H&E Equipment Services completes acquisition of Lewistown Rental and affiliated companies
H&E Equipment Services, Inc. has announced the completion of its acquisition of Montana-based Lewistown Rental and three of its affiliated companies located in Havre, Glasgow, and Great Falls, Montana. The acquisition adds a comprehensive mix of equipment with an original equipment cost of approximately $28.5 million. Brad Barber, chief executive officer of H&E, stated, “With the addition of these four locations, H&E now has six locations in the state of Montana, addressing customer needs across the state. The acquisition is our third in the last six months and is indicative of our continued focus on expanding our geographic reach in the U.S. We are encouraged by the growing prospects for non-residential, industrial, infrastructure, and agricultural projects in Montana and look forward to establishing a strong presence in this vibrant state.” With the close of the transaction, H&E now operates 145 branch locations across 30 states.
Carolina Handling celebrates anniversary with 58 for 58 giveaway
Carolina Handling is celebrating its 58th anniversary in 2024 with a yearlong campaign entitled “Handling Hunger Together” to assist hunger relief organizations throughout the company’s five-state footprint. According to Feeding America, more than 44 million people in the U.S. face hunger each year, including 1 in 5 children. In 2022, 49 million people turned to food banks and other charitable organizations to help feed their families. About 8 million pounds of food was collected and delivered to feeding organizations in 2023, according to Move for Hunger, with food banks in need of pallet jacks, lift trucks and other material handling equipment to move non-perishables and fresh produce. “There are numerous organizations throughout the Southeast that receive, store and distribute thousands of pounds of food each year to feed the hungry in their communities,” said Carolina Handling President & CEO Brent Hillabrand. “The logistics of that can be overwhelming to organizations that don’t have applicable, reliable equipment. That’s where companies like Carolina Handling can help.” In celebration of Carolina Handling’s 58 years in business in 2024, the Charlotte, NC-based intralogistics company is giving away 58 motorized pallet jacks to hunger relief organizations throughout its territory, which includes North Carolina, South Carolina, Georgia, Alabama and Florida’s Central time zone. The Raymond 8210 electric pallet jacks are used 2016 and newer models with battery packs. They will be awarded on a first-requested basis to qualifying organizations completing a submission form on the Carolina Handling website. Equipment will be delivered to all recipients at no charge.
Cromer Material Handling earns Diamond Award from Bobcat Company
Bobcat Company recognized Cromer Material Handling as a top-performing material handling equipment dealer with a Diamond Award at MODEX 2024. The Diamond Award is presented annually to select dealers by Bobcat Company for outstanding efforts and commitment within their respective regions. This year, Bobcat recognized 21 material handling dealers based on sales, volume and other dealer engagement metrics. Cromer Material Handling was recognized at a reception held during MODEX 2024, the premier supply chain experience trade show in Atlanta, Georgia. “We are pleased to recognize such a deserving group of dealerships for their efforts and achievements,” said Jarrod Steck, Bobcat vice president of material handling products. “While forklifts are a new product offering within the Bobcat portfolio, these dealerships bring years of expertise and experience within the material handling industry, and we are thrilled to award these top performers and valued dealer partners.” Brent Poulton, President of Cromer Material Handling, accepted the award on behalf of the entire organization. “We are honored to be recognized by Bobcat Material Handling as one of the top-performing dealers,” Poulton said. Combining our talented team of parts, service, rental, and sales associates with a world-class product has proven to be a winning formula for us, Bobcat Material Handling, and our customers. We proudly represent the Bobcat brand and are committed to long-lasting partnerships with them and our customers.” Bobcat’s lift truck, materials handling products and organization were rebranded to Bobcat, from the former name of Doosan this past year.
H&E Equipment Services reports first quarter 2024
H&E Equipment Services, Inc. announced results for the first quarter ended March 31, 2024, with disciplined growth objectives contributing to double-digit improvement in rental revenues. FIRST QUARTER 2024 SUMMARY WITH A COMPARISON TO FIRST QUARTER 2023 Revenues increased 15.2% to $371.4 million compared to $322.5 million. Net income totaled $25.9 million compared to $25.7 million. The effective income tax rate was 26.5% compared to 26.1%. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 13.1% to $161.7 million compared to $143.0 million. Adjusted EBITDA margin was 43.6% compared to 44.4%. Total equipment rental revenues were $295.3 million, an increase of $33.3 million, or 12.7%, compared to $262.0 million. Rental revenues were $261.7 million, an increase of $29.7 million, or 12.8%, compared to $232.1 million. Sales of rental equipment increased 49.8% to $48.1 million compared to $32.1 million. Margins improved to 62.9% compared to 58.6%. Sales of new equipment totaled $10.4 million, an increase of 33.2% compared to $7.8 million. Gross margin improved to 44.4% compared to 43.8%. Total equipment rental gross margins were 43.3% compared to 43.6%. Rental gross margins were 48.5% compared to 48.4%. Average time utilization (based on original equipment cost) was 63.6% compared to 67.3%. The Company’s rental fleet, based on original equipment cost, increased $383.0 million, or 15.7% to just over $2.8 billion. Average rental rates improved 2.9% from the year-ago quarter and declined 0.2% on a sequential quarterly basis. Dollar utilization was 37.0% compared to 38.6%. Average rental fleet age on March 31, 2024, was 39.9 months compared to an industry average age of 48.9 months. Paid regular quarterly cash dividend of $0.275 per share of common stock. Summarizing the Company’s first quarter results, Brad Barber, chief executive officer of H&E stated, “Rental revenues grew 12.8% on a year-over-year basis, supported by a modest improvement in rental rates and successful growth activities. Rental rates advanced 2.9% when compared to the year-ago quarter, while on a sequential quarterly basis, rates experienced a negligible decrease of 0.2%. Average physical utilization in the quarter was 63.6% compared to 67.3% in the year-ago quarter, with the decline due to lower than anticipated construction activity, as well as project delays resulting from recurring unfavorable weather conditions, with the work interruptions most pronounced across our western operations. Our continued focus on branch expansion and fleet growth led to further financial gain in the quarter. On a year-over-year basis, our branch network grew 17%, including 15 locations resulting from our accelerated branch expansion program and five other locations added through acquisitions. Our rental fleet closed the first quarter with an original equipment cost (OEC) in excess of $2.8 billion, or 15.7% larger than our OEC on March 31, 2023.” Providing an updated view on industry prospects, Mr. Barber noted, “Our current outlook for the equipment rental industry indicates a transitioning business environment, with moderating growth levels compared to the exceptional rate of growth in construction spending and strong business dynamics experienced over the past 24 months. We believe the easing in the progression of construction spending is in part the result of a ‘higher for longer’ interest rate environment and generally tighter lending standards, which have contributed to a greater supply of rental equipment. Even though non-residential and industrial project backlogs remain solid, the rate of new project starts has slowed in early 2024. We note several factors that are expected to be instrumental in maintaining, or possibly improving upon an environment currently exhibiting moderate growth and steady industry fundamentals. These factors include the continued escalation of mega projects, an expected increase in infrastructure projects, favorable trends in rental penetration and the steady growth in construction employment. These critical factors reinforce non-residential construction and industrial project activity and serve as the foundation in support of elevated long-term industry growth.” Mr. Barber addressed the Company’s planned capital expenditures while reiterating branch expansion objectives, stating, “We have reduced our 2024 guidance for gross fleet investment, with the steadying of industry fundamentals justifying a more balanced approach to capital spending over the year. Capital investment in our fleet is now expected to range from $350 million to $400 million, down from our initial guidance for 2024 of $450 million to $500 million. With the availability of equipment from manufacturers returning to normal, we could quickly increase our spending range should industry demand accelerate. The revised spending range will adequately address the planned growth in 2024 across our branch network, which remains at 12 to 15 new locations as we continue to demonstrate strong execution of our accelerated branch expansion strategy. Also, additional branch growth in 2024 could be achieved through the acquisition of attractive rental operations, as demonstrated by the acquisition of Precision Rental, which closed in the first week of 2024, and the recently announced pending acquisition of four locations in the state of Montana. Following the expected close of this latest transaction in the second quarter of 2024, H&E will operate 145 branches across 30 states, including eight branch additions since the close of 2023.” FINANCIAL DISCUSSION FOR FIRST QUARTER 2024 Revenue Total revenues increased 15.2% to $371.4 million in the first quarter of 2024 from $322.5 million in the first quarter of 2023. Total equipment rental revenues increased 12.7% to $295.3 million compared to $262.0 million in the year-ago quarter. Rental revenues increased 12.8% to $261.7 million compared to $232.1 million in the same period of comparison. Sales of rental equipment increased 49.8% to $48.1 million compared to $32.1 million in the first quarter of 2023. Sales of new equipment increased 33.2% to $10.4 million compared to $7.8 million in the same quarter of 2023. Gross Profit Gross profit increased 16.6% in the first quarter of 2024 to $164.9 million compared to $141.4 million in the first quarter of 2023. Gross margin of 44.4% for the first quarter of 2024 compared to 43.8% over the same period of comparison. On a segment basis, gross margin on total equipment rentals was 43.3% in the first quarter of 2024 compared to 43.6% in the first quarter of 2023. Rental margins were 48.5% compared to 48.4%. On average, rental rates in the first quarter of 2024 improved 2.9% when compared to rates in the first quarter of 2023. Time utilization (based on original equipment cost) was 63.6% in the first quarter of 2024 compared to 67.3% in the year-ago quarter. Gross margins
Cavaion Baumann USA welcomes Paul Bilson as Director of Dealer Development and National Accounts.
Paul will lead the effort to strengthen the Baumann dealer network throughout the U.S. and Canada. National accounts will also fall under Paul’s responsibility. Paul comes from Hyundai Material Handling where he was responsible for directing dealer development, national accounts, and government sales. He was a key contributor to Hyundai’s rise in the North American market over the past twelve years. He has also been involved with organizations such as MHEDA and NPCA (National Precast Concrete Association,) and will continue to be going forward. “Paul is a great fit for our organization,” said Rob Alling, President, and CEO of Baumann USA. “He comes highly regarded, and his relationships with forklift dealers throughout North Americas, in addition to his experience working with major accounts in the precast, steel, and lumber industries is what we were looking for to help grow our presence in the U.S. and Canada,” added Alling. “There is untapped potential for the use of heavy-duty side loaders in North America, and I am excited to be representing Baumann, a brand with a reputation for quality and design, much like the Hyundai big trucks I represented for many years,” Bilson said.
Carolina Handling wins Kautex Safety Award for AGV implementation
Carolina Handling has received the 2023 Health & Safety Award for Excellence from Kautex, A Textron Company, a Tier One automotive supplier with more than 30 manufacturing facilities in 13 countries. The award was received for an Automated Guided Vehicle (AGV) project at the company’s facility in Lavonia, Georgia, and recognizes Carolina Handling as a top-performing supplier. The courier implementation was one of the smoothest among any of Kautex Textron’s equipment distributors worldwide, according to the company, which operates AGVs at most of its facilities around the globe. Carolina Handling is one of the Southeast’s leading integrated material handling solutions providers and the exclusive Raymond Solutions and Support Center for North Carolina, South Carolina, Georgia, Alabama, and Florida’s Central time zone. The company provides a full range of lift trucks and automation solutions for manufacturers, warehouses, and distribution centers, along with parts, warehouse equipment and supplies. A Tier One global automotive supplier, Kautex Textron designs, develops, and manufactures traditional and hybrid fuel systems, advanced cleaning solutions for assisted and autonomous driving, engine camshafts, and plastic industrial packaging solutions.
Toyota’s 80V Electric Pneumatic Forklift earns 2023 GOOD DESIGN Award
Toyota Material Handling receives the 2023 GOOD DESIGN Award as a testament to the engineering and design quality of the innovative, European-designed and built 80V Electric Pneumatic Forklift Toyota Material Handling’s innovative 80V Electric Pneumatic Forklift – designed and built in Europe – was named a 2023 GOOD DESIGN® Award recipient, giving testament to the product’s world-class engineering, aesthetics, durability, and performance. This model and the rest of Toyota’s advanced lineup of industry-leading forklifts reflect Toyota’s commitment to prioritizing customer needs, in alignment with the organization’s culture of Kaizen – or continuous improvement. “The Good Design Award not only expands awareness in the design community, but it also highlights the attention to quality, usability, aesthetics, and ergonomics in Toyota products around the world,” said Greg Smiley, Toyota Material Handling North America’s Head of Design. Recognition for this award-winning product is prompted by its unique and innovative features. The multifunction display system helps enhance efficiency by notifying the operator of battery capacity and operating time warnings while facilitating rapid diagnostics to prevent unplanned downtime. Toyota’s innovative System of Active Stability (SAS)™ engages instantly to stabilize the rear axle if the system senses the forklift is in a situation that could lead to instability. The forklift also provides ample comfort for operators with its full-floating cabin and full-suspension seat that helps minimize shock and vibration. Toyota’s Operator Presence Sensing System and the optional seatbelt interlock encourage operators to remain properly seated with the seatbelt buckled. Additionally, the cockpit-style operator compartment allows operators a clear line of sight and minimizes fatigue with its memory-tilt-steering technology, mini-lever controls, an armrest, and a low-height dashboard. The electric forklift is strategically engineered in alignment with Toyota’s sustainability initiative. With load capacities ranging from 4,000 to 17,500 pounds, the battery-powered forklift increases efficiency by combining the power and durability of non-electric models with its top-of-the-line AC drive motors, allowing operators a reliable material handling solution for indoor and outdoor environments. In addition, the forklift offers standard speed control and performance modes to allow operators to select power consumption, acceleration and regenerative braking. This contributes to maximized efficiency, performance and operating time. The 80V Electric Pneumatic also extends outdoor lifespan through preventative technology that limits water intrusion and corrosion. Learn more about Toyota Material Handling’s innovative material handling solutions at ToyotaForklift.com.
KION Group starts solid with increases in revenue and earnings
Revenue up by 2.8 percent to € 2.859 billion (Q1 2023: € 2.781 billion) Adj. EBIT improves to € 226.7 million (Q1 2023: € 156.0 million) Adj. EBIT margin of 7.9 percent (Q1 2023: 5.6 percent) Positive free cash flow of € 65.7 million (Q1 2023: € 104.9 million) Full-year 2024 outlook confirmed The KION Group started the financial year 2024 with revenue growth and improved profitability. The adjusted EBIT margin of 7.9 percent came in 2.3 percentage points higher year-on-year, with significant improvements in both operating segments. “KION Group had a solid start in 2024 substantially improving profitability at the Group level and in both segments in the first quarter,” says Rob Smith, CEO of KION GROUP AG. “Achieving the second-best quarterly adjusted EBIT on the KION Group level lays a strong foundation to deliver our full-year guidance.” Group revenue in the first quarter of 2024 grew by 2.8 percent to € 2.859 billion year-on-year (Q1 2023: € 2.781 billion). In the Industrial Trucks & Services segment, revenue increased by 7.4 percent to € 2.153 billion (Q1 2023: € 2.005 billion), mainly due to the positive geographic and product mix as well as higher production output and sales prices. The service business also grew. Revenue in the Supply Chain Solutions segment declined by 8.1 percent to € 718.9 million (Q1 2023: € 782.5 million) due to the lower project business order intake of the previous quarters. The Supply Chain Solutions segment benefited from increased demand from pure e-commerce providers, general merchandise, and food retailers, but order intake in the project business remained subdued in the first three months impacted by customers’ hesitancy to sign new contracts due to macroeconomic uncertainties. In addition, the order book contains a higher proportion of long-term projects, whose revenue realization will extend over a longer period. Service business achieved a significant increase in revenue in the reporting period. Adjusted EBIT at the Group level increased significantly to € 226.7 million (Q1 2023: € 156.0 million). The adjusted EBIT margin improved accordingly to 7.9 percent (Q1 2023: 5.6 percent). The Industrial Trucks & Services segment continued its positive development of the previous quarters and achieved a double-digit adjusted EBIT margin of 11.1 percent (Q1 2023: 8.8 percent) with an adjusted EBIT of € 239.7 million (Q1 2023: € 176.6 million). This was mainly due to the continued stability of material purchase prices, increased productivity as a result of improved material availability and revenue growth. In the Supply Chain Solutions segment, the adjusted EBIT margin increased to 2.6 percent (Q1 2023: 0.9 percent) with an adjusted EBIT of € 18.4 million (Q1 2023: € 7.1 million). Service business growth, improved project execution and the efficiency measures implemented contributed to the improvement in earnings and margins. At € 111.0 million, consolidated net income in the first quarter of 2024 was significantly higher year-on-year (Q1 2023: € 73.5 million). Free cash flow amounted to € 65.7 million (Q1 2023: € 104.9 million). KION Group Figures for the First Quarter 2024 in million € Q1/2024 Q1/2023 Diff. Revenue Industrial Trucks & Services Supply Chain Solutions 2,859 2,153 719 2,781 2,005 783 2.8% 7.4% -8.1% Adjusted EBIT [1] Industrial Trucks & Services Supply Chain Solutions 226.7 240 18 156.0 177 7 45.4% 35.7% > 100% Adjusted EBIT margin [1] Industrial Trucks & Services Supply Chain Solutions 7.9% 11.1% 2.6% 5.6% 8.8% 0.9% – – – Net income 111.0 73.5 50.9% Basic earnings per share (in €) [2] 0.83 0.55 50.9% Free cash flow [3] 65.7 104.9 -39.2 Order Intake [4] Industrial Trucks & Services Supply Chain Solutions 2,439 1,804 642 2,401 1,957 454 38 -152 187 Orderbook [4] Industrial Trucks & Services Supply Chain Solutions 5,588 2,877 2,778 6,045 3,197 2,921 -458 -320 -142 Employees [5] 42,566 42,325 241 [1] Adjusted for effects of purchase price allocations as well as non-recurring items. [2] Net income attributable to shareholders of KION GROUP AG: € 108.8 million (Q1/2023: € 72.1 million). EPS calculation is based on average number of shares of 131.1 million. [3] Free cash flow is defined as cash flow from ongoing business plus cash flow from investment activity. [4] Figures as of March 31, 2024, compared to balance sheet date Dec. 31, 2023. Prior-year figures for order intake and order book have been definition-related adjusted in the SCS segment. [5] Number of full-time equivalents incl. apprentices and trainees as of March 31, 2024, compared to balance sheet date Dec. 31, 2023. Outlook confirmed Due to the results in the first quarter of 2024, KION GROUP AG confirms the outlook published on February 29, 2024. Outlook 2024 KION Group Industrial Trucks & Services Supply Chain Solutions in million € 2023 Outlook 2024 2023 Outlook 2024 2023 Outlook 2024 Revenue1 11,433.7 11,200 – 12,000 8,479.6 8,500 – 9,000 2,997.0 2,700 – 3,000 Adjusted EBIT1 790.5 790 – 940 848.5 850 – 950 44.3 60 – 120 Free Cash Flow 715.2 550 – 670 – – – – ROCE 7.7% 7.4% – 8.8% – – – – 1 Disclosures for the Industrial Trucks & Services and Supply Chain Solutions segments also include intra-group cross-segment revenue and effects on EBIT.