ASV new machine sales soar 89% in 3Q as dealer network continues to grow

For the third quarter of 2017, ASV Holdings is posting a walloping 88.7 percent increase in new machine sales through its growing distribution network.

Machine sales revenues jumped 60 percent to $19.8 million, led by the nearly 89 percent increase through the company’s distribution network.

The company reported $30.6 million in net sales, a 33-percent year-over-year increase in net sales, at $30.6 million in the third quarter of 2017. That compares to $23 million for the same period in 2016.

Last week, in a nod to strong market conditions, the Minnesota-based maker of compact construction announced it had landed a new $2 million order from its largest rental customer for its RT30 and RT50 compact track loaders. It was second big order received from the customer, who wasn’t named, for delivery of equipment in 2017, and it doubled that customer’s most recent annual purchases of ASV machines.

The ASV machines supplied under that large order will be deployed across a number of additional rental locations, the company says.

Third quarter 2017 results reflect continued progress in the development of ASV as an independent company, says CEO Andrew Rooke.  This effort is highlighted by 60 percent year-over-year growth from machine sales, a near-doubling in pre-tax earnings, and expansion in dealer location counts, he says.