Ameramex Q2 revenue more than triples on stronger heavy equipment demand
Ameramex Q2 revenue more than triples on stronger heavy equipment demand
Overview
U.S. heavy equipment provider's Q2 revenue more than triples yr/yr to $5.5 mln
Gross margin drops to 10% from 47% due to lower-margin fleet sales
Net income falls sharply as operating income turns negative
Outlook
Company says it is focused on improving margins in the second half of the year
AmeraMex expects ongoing demand for heavy equipment to support future revenue growth
Result Drivers
EQUIPMENT DEMAND - Co said strong demand for heavy equipment and several large equipment sales drove revenue growth
LOWER-MARGIN SALES - Co said margin pressure was mainly due to several large, lower-margin fleet transactions
INVENTORY EXPANSION - Co expanded inventory and strengthened customer relationships in target markets
Company press release: ID:nNFC9lWp50
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $5.50 mln |
|
Q2 EPS |
| $0 |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)