Equipment Market Outlook: Page 11

Engines
Cummins Announces Financial Results for the Fourth Quarter and Full Year 2015
Cummins Inc.
Cummins reports revenue in the fourth quarter decreased 6% and for the full year decreased 1%; the company anticipates 2016 to be down 5-9%.
Engines
Modine Net Sales Decreased 2.5% for Third Quarter Fiscal Year 2016
Modine Manufacturing Company
Modine reports its net sales declined 2.5% during the third quarter of fiscal year 2016 due in part to lower demand from certain market segments, and expects full year 2016 results to be flat to down 2%.
Hardware
Timken Announces Fourth Quarter Financial Results
The Timken Company
Timken reports sales for the fourth quarter 2015 were approximately 6% lower than 2014, and anticipates 2016 to be down 4-5%.
Market Analysis
Volvo Trucks Achieves Record Sales and Market Share in North America During 2015
Volvo Trucks North America
Volvo Trucks reports it had a record year in 2015, both in sales and market share due in part to positive customer response to its fuel-efficient vehicles and powertrain technologies.
Market Analysis
Caterpillar Reports 2015 Financial Results and 2016 Outlook
Caterpillar Inc.
Caterpillar reports fourth quarter and full-year 2015 sales and revenue were down from 2014, and expects 2016 to be much the same as global markets continue to be in a downturn.
Engines
Scania Releases Year-End 2015 Financial Report
Scania AB
For 2015, Scania reports net sales rose 3% to a record high due in part to higher vehicle volume in Europe and positive currency rate effects.
Hardware
Bossard Achieves New Sales Record in 2015
Bossard North America Inc.
Despite challenging market conditions, Bossard Group's net sales rose 6.2% which brought revenues to their highest level ever.
Market Analysis
Volvo Group truck deliveries increased 40% in Europe
Volvo Group Global
Volvo Group reports truck deliveries in November rose 40% in Europe but declined in other regions including North and South America.
Market Analysis
Navistar releases fourth quarter results
Navistar International Corp.
Navistar has reported its fourth quarter and full year 2015 financial results, reporting a $50 million net loss for the fourth quarter.
Market Analysis
Deere announces fourth quarter and full year earnings
John Deere Ag and Turf Division
Deere & Co. reports a decline in sales for the fourth quarter and full year 2015 due to weakness in the global agricultural and construction markets.
Engines
Donaldson reports first quarter 2016 earnings
Donaldson Company Inc.
Donaldson's first quarter 2016 sales decreased 9.8% due in part to negative impact from foreign currency translation and continued decline in the ag, mining and other off-road markets.
Market Analysis
Volvo truck deliveries rose 2% in October
Volvo Group Global
Volvo Group truck deliveries rose 15% in Europe and 6% in North America in October, but declined in both South America and Asia.
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