Recent Earnings

Penske Transportation Solutions Records 53% Increase in Q3 Earnings

Penske Transportation Solutions recorded $64.5 million in earnings in Q3/20 and $108 million in earnings year to date compared with $42.2 million and $106 million, respectively, for the same periods last year. read more

Wintrust Financial Reports Growth in Leasing Business During Q3/20

In its Q3/20 earnings report, Wintrust Financial reported that its leasing business grew during the quarter, with its portfolio of assets, including capital leases, loans and equipment on operating leases, increasing by $20.3 million to $2 billion. read more

PACCAR Financial Services Reports Y/Y Decline in Q3 Income, Truck Deliveries Double

PACCAR Financial Services earned pre-tax income of $55.5 million in the third quarter this year compared with $66.5 million in the same period last year. PACCAR’s truck deliveries doubled in the third quarter compared with the second quarter of this year, reaching 36,000 units. read more

GATX Reports Y/Y Increase in Q3 Net Income, Dip in Fleet Utilization

GATX reported Q3/20 net income was $48.2 million compared with net income from continuing operations of $37.2 million in Q3/19. Railcar North America fleet utilization was 98.2% at the end of Q3/20 compared with 98.7% at the end of the prior quarter and 99.2% at the end of Q3/19. read more

Truist Reports Q3 Commercial Portfolio Decline Despite Growth in Equipment Finance

Truist Financial reported average loans and leases held for investment for Q3/20 were down $11.2 billion compared with Q2/20, primarily due to a decline in the commercial portfolio. However, the company reported growth in equipment finance lending. read more

DLL Reports 2% Portfolio Increase, 5% NBV Decrease in H1/2020

DLL reported a portfolio increase of 2% in the first six months of 2020 in addition to a 5% drop in new business volume compared with the first six months of 2019. DLL also recorded a year-over-year drop of 71% in net profit from 2019. read more

Deere Reports 11% Decrease in Net Sales, 5% Increase in Financial Services Income for Q3

Deere & Company reported an 11% decrease in worldwide net sales and revenues for the third quarter ended Aug. 2, 2020. Conversely, the company reported a 5% increase in net income from financial services. read more

AeroCentury Reports $13.5MM Net Loss in Q2/20

AeroCentury, an independent aircraft leasing company, reported a Q2/20 net loss of $13.5 million compared with a net loss of $0.1 million for Q2/19. read more

Alta Equipment Group’s Net Revenues Rise 41.4% in Q2/20

Alta Equipment Group reported that net revenues in Q2/20 increased to $192.1 million in Q2/20, which marked a 41.4% year-over-year increase compared with the $135.9 million recorded in Q2/19. read more

Chesswood Reports Decline in COVID-19 Related Deferrals at End of Q2

Chesswood Group, a North American commercial equipment finance provider for small and medium-sized businesses, reported its Q2/20 results and provided a COVID-19 update, noting that COVID-19 related deferrals declined and 66% of the company’s portfolio is made up of prime credits. read more

Bombardier Reports $2.7B in Q2 Revenue, Lower Production Due to COVID-19

Bombardier reported revenues of $2.7 billion during Q2/20, reflecting a lower level of production activity and deliveries in the quarter as operations at sites across North America and Europe were temporarily suspended due to the global COVID-19 pandemic. read more

Air Lease Reports 10.6% Increase in Q2/20 Revenue

Air Lease reported that Q2/20 revenues of $521 million increased 10.6% and that it sold four aircraft during the quarter resulting in approximately $87 million in sales proceeds. read more

BlackRock TCP Capital Reports $21.1MM in Q2 Net Investment Income, Petro Joins Board

BlackRock TCP Capital, a business development company, reported net investment income for the quarter ended June 30, 2020 of $21.1 million. In addition, Andrea Petro was appointed to the board of directors as Brian Wruble retired. read more

Ritchie Bros. Reports 1% Decline in Total Revenue for Q2/20

Ritchie Bros. reported total revenue in Q2/20 decreased 1% to $389.1 million compared with Q2/19 and that inventory sales revenue in Q2/20 decreased 2% to $154.9 million compared with Q2/19. read more

Willis Lease Finance Q2 Revenue Falls 21.7%, COVID-19 Damages Leasing Business

Willis Lease Finance reported a 21.7% year-over-year decrease in total revenue in Q2/20 due primarily to the impact of the COVID-19 pandemic on the aviation industry, which generally led to reduced revenues in the company’s core leasing business. read more

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Terry Mulreany
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