NRF statement on the final overtime rule
The National Retail Federation has issued the following statement from Executive Vice President of Government Relations David French after the Department of Labor’s (DOL) final overtime rule was released. Originally proposed in Sept. 2023, the rule will increase — in two steps — the minimum annual salary threshold that determines overtime pay eligibility under the Fair Labor Standards Act. “NRF acknowledges the steps that DOL took to...
Herc Holdings reports strong First Quarter 2024 and affirms 2024 full-year guidance
Record first quarter total revenues of $804 million, an increase of 9% Net income decreased 3% to $65 million, or $2.29 per diluted share Adjusted EBITDA of $339 million increased 10%; adjusted EBITDA margin increased to 42.2% Rental pricing increased 5.1% year-over-year Added 15 new locations through M&A and greenfield openings Corporate credit rating upgraded by S&P Global to BB Herc Holdings Inc. has reported financial...
Nucor reports results for the First Quarter of 2024
Net earnings attributable to Nucor stockholders of $844.8 million, or $3.46 per diluted share Net sales of $8.14 billion Net earnings before noncontrolling interests of $959.0 million; EBITDA of $1.50 billion Nucor Corporation has announced consolidated net earnings attributable to Nucor stockholders of $844.8 million, or $3.46 per diluted share, for the first quarter of 2024. By comparison, Nucor reported consolidated net earnings...
Forklifts Group earns the Diamond Award from the Bobcat Company
Bobcat Company recognized Forklifts Group as a top-performing material handling equipment dealer with a Diamond award at MODEX 2024. Dealers are recognized annually by Bobcat Company for their 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. Forklifts Group was recognized at a reception held during...
Carolina Handling named a 2024 Raymond Dealer of Distinction
For the 33rd year in a row, Carolina Handling has been named a Dealer of Distinction (DOD) by The Raymond Corporation. The DOD award is given annually to the top performers among Raymond Solutions and Support Centers throughout North America. Carolina Handling, the exclusive Raymond Solutions and Support Center for the Carolinas, Georgia, Alabama and Florida’s Central time zone territory, is among only seven Raymond dealers to receive...
U.S. Rail Report for the week ending April 13, 2024
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ending April 13, 2024. Total U.S. weekly rail traffic was 466,463 carloads and intermodal units, up 1.5 percent compared with the same week last year. Total carloads for the week ending April 13 were 208,381 carloads, down 8.2 percent compared with the same week in 2023, while U.S. weekly intermodal volume was 258,082 containers and trailers, up 11.0...
OTR announces opening date for Mexico facility
OTR Engineered Solutions (OTR) has announced that its new facility being built in Mexico is scheduled to commence business operations on August 1, 2024. Located in Apodaca, a city in the Monterrey metropolitan area, the building site was strategically selected to supply OEM customers with products and services such as tire mounting, sequencing, just-in-time supply, and warehousing on a local basis. These value-added services are a...
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