Friday Roundup: United updates forecast | GAM gains in LATAM | Access leaders’ results

Somehow July is now behind us, and with its passing came financial results for many companies, including United Rentals, GAM, JLG and Terex AWP, as well as news of WillScot’s merging of brands.

United Rentals narrowed its forecast for the 2024 financial year and said that it remains well placed to capitalize on opportunities for long-term growth.

The company now expects revenue for the year to be in the region of $15 billion to $15.3 billion, a revision of its previous guidance of between $14.95 billion and $15.45 billion.

Meanwhile, the company expects to maintain its previously announced capital expenditure for the year of up to $2.3 billion.

Terex Corp’s aerial work platform division posted a 6.9% increase in second quarter revenues to US$882 million.

Spanish rental business GAM reported big revenue gains in Latin America, North Africa and Saudia Arabia as it reported a 10% increase in revenues to €143.3 million for the first half of 2024.

Its sales in Latin America grew by 43% to €24.1 million, while its much smaller operations in Morocco and Saudi Arabia were up 78% at €4.8 million. Revenues in its most important home market rose by 3% to €103.7 million.

In OEM news, access and telehandler sales across North America helped boost JLG’s Q2 results to $1.41 billion, up 5.9% year-over-year for the three months ending June 30, parent company Oshkosh Corp. has announced.

JLG’s operating income in the second quarter increased 16.4% to $246.5 million, or 17.5% of sales, compared to $211.7 million, or 15.9% of sales, in the second quarter of 2023. The increase was primarily due to higher sales volumes across North America, favorable price/cost dynamics and improved sales mix, offset in part by increased selling, general and administrative costs, the company said.

For its part, Terex Corp.’s aerial work platform division posted a 6.9% increase in second quarter

WillScot Holdings Corp, owner of modular accommodation and storage specialist WillScot Mobile Mini, is to combine all of its brands.

revenues to US$882 million, driven by continued “healthy demand” in North America.

The Genie backlog reduced significantly in the quarter to $1.82 billion compared to $2.4 billion in the previous quarter and from $2.8 billion in the same period in 2023.

Meanwhile, WillScot Holdings Corp, owner of modular accommodation and storage specialist WillScot

Mobile Mini, is to combine all of its brands.

The US-based company said that the move will see all companies become unified under the WillScot brand and will reinforce it as a “leading temporary space solutions provider.”

In conjunction with the rebranding announcement, the WillScot parent company has also changed its name from WillScot Mobile Mini Holdings, Corp to WillScot Holdings Corp.