Neff Corporation Announces Fourth Quarter and Full Year 2016 Results and Provides 2017 Outlook
Neff Corporation (the “Company”) (NYSE:NEFF) today reported its financial results for the fourth quarter and full year ended December 31, 2016. Graham Hood, Chief Executive Officer of Neff Corporation, commented, "We were pleased with the growth we generated in our fourth quarter and full year 2016 results. During 2016, we grew our rental revenues and operating income in our core construction driven end-markets. We anticipate continued growth in these markets in 2017. Our approach for 2017 is to remain focused and selective with our CAPEX spending as we take advantage of strong rental demand in our core construction end-markets." Fourth Quarter 2016 Highlights Total revenues decreased 3.6% to $102.3 million from $106.1 million in the fourth quarter of 2015. Rental revenues increased 6.0%, or $5.2 million, to $91.7 million in 2016 from $86.5 million in the prior year period. Time utilization decreased slightly to 66.4% compared to 66.8% in the fourth quarter of 2015. Rental rates...
Neff Corporation Announces Fourth Quarter and Full Year 2016 Conference Call and Webcast
Neff Corporation (the “Company”) (NYSE: NEFF ) today announced that Graham Hood , Chief Executive Officer, and Mark Irion , Chief Financial Officer, expect to discuss the Company's results for the fourth quarter and year ended December 31, 2016 , during a conference call scheduled for Friday, March 3, 2017 , at 11:00 a.m. ET . The Company expects to release the financial results for the fourth quarter and year ended on Thursday, March 2, 2017 , following the market close. Shareholders and other interested parties may participate in the conference call by dialing +1 877-201-0168 (domestic) or +1 647-788-4901 (international) and entering access code 51788436, a few minutes before 11:00 a.m. ET on March 3, 2017. Those who wish to listen to the live conference call and view the accompanying presentation slides should visit the Investors section of the Neff Corporation website at: http://investor.neffrental.com. A telephonic replay will be available from 1:00 p.m. ET on the day of the...
Neff Corporation Announces Third Quarter 2016 Results
Neff Corporation (the “Company”) (NYSE: NEFF ) today reported its financial results for the third quarter ended September 30, 2016. Graham Hood, Chief Executive Officer of Neff Corporation, commented, “The third quarter of 2016 was another solid quarter for Neff’s rental business as we generated record third quarter results for rental revenues, which increased by 5.8% year-over-year. This performance reflects our ability to execute our strategy and take advantage of the ongoing strength in the construction markets we serve. We expect this strength to continue for the remainder of 2016 and into 2017.” Third Quarter 2016 Highlights Total revenues increased 6.1% year-over-year to $105.5 million in the third quarter of 2016. Rental revenues increased 5.8% year-over-year to $95.8 million in the third quarter of 2016 from $90.5 million. Time utilization decreased to 69.0% from 69.2% in the prior year period. Rental rates decreased 0.2% year-over-year in the third quarter of 2016. The...