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rency , “ extending our leadership position as the # 1 professional power tool brand worldwide . Our Consumer group of businesses delivered solid first half 2024 results . Led by strong performance in Outdoor , Ryobi delivered midsingle digit sales growth compared with the first half of last year .”
“ We finished the first half of 2024 with US $ 4,027 million of inventory , a reduction of US $ 71 million from year end 2023 and US $ 554 million compared to the first half of last year .”
CATERPILLAR On Aug . 6 , Caterpillar Inc . announced second-quarter 2024 results . Total sales and revenues for the second quarter of 2024 were $ 16.689 billion , a decrease of $ 629 million , or 4 %, compared with $ 17.318 billion in the second quarter of 2023 . The decrease was primarily due to lower sales volume of $ 1.206 billion , partially offset by favorable price realization of $ 578 million . The decrease in sales volume was mainly driven by the impact from changes in dealer inventories that decreased during Q2 of 2024 , compared with an increase during the second quarter of 2023 .
Construction Industries ’ total sales were $ 6.683 billion in the second quarter of 2024 , a decrease of $ 471 million , or 7 %, compared with $ 7.154 billion in the second quarter of 2023 . The decrease was primarily due to lower sales volume of $ 588 million , partially offset by favorable price realization of $ 178 million . The decrease in sales volume was mainly driven by the impact from changes in dealer inventories that remained about flat during the second quarter of 2024 , compared to an increase during the second quarter of 2023 .
Sales in North America were about flat . Lower sales volume was offset by favorable price realization . Lower sales volume was mainly driven by lower sales of equipment to end users .
SITEONE LANDSCAPE SUPPLY SiteOne announced earnings for its second quarter ended June 30 , 2024 . The company announced that net sales for Q2 of 2024 increased to $ 1.41 billion , or 4 %, compared to $ 1.35 billion for the prior-year period . Organic daily sales decreased 3 % compared to the prior-year period due to soft demand and price deflation for commodity products . Acquisitions contributed $ 103.2 million , or 8 %, to net sales growth for the quarter .
SiteOne ’ s gross profit increased 4 % to $ 510.3 million for Q2 2024 compared to $ 489.4 million for the prior-year period . Gross margin contracted 10 basis points to 36.1 % due to lower price realization , partially offset by a positive impact from acquisitions .
BRIGHTVIEW Commercial landscaping services company BrightView Holdings , Inc . reported unaudited results for the third quarter ended June 30 , 2024 .
For the third quarter of fiscal 2024 , total revenue decreased 3.6 % to $ 738.8 million driven by a $ 39.2 million year over year decrease in revenue from our commercial landscaping business . These decreases were partially offset by a $ 11.6 million increase in our development services revenue .
For the three months ended June 30 , 2024 , adjusted EBIT-
DA increased by $ 6.1 million to $ 107.9 million representing a 130 basis point increase in adjusted EBITDA margin . The increase was due to the increased revenue described above combined with successful cost management due to ongoing cost management initiatives focused on payroll and overhead costs and reduction in non-core businesses .
For the nine months ended June 30 , 2024 , total revenue decreased 1.6 % to $ 2,038.4 million driven by a $ 79.5 million decrease in our commercial landscaping business . The decrease was partially offset by $ 31.5 million of increased revenue from our development services revenue and an $ 11.3 million increase in snow removal revenue compared to the prior year .
GENERAC Generac reported financial results for its second quarter ended June 30 , 2024 , and provided an update on its outlook for the full year 2024 .
Net sales were $ 998 million during the second quarter of 2024 as compared to $ 1.00 billion in the prior-year second quarter . Core sales , which excludes both the impact of acquisitions and foreign currency , were approximately flat on the prior year period . Residential product sales increased approximately 8 % to $ 538 million as compared to $ 499 million last year . Commercial & Industrial product sales decreased approximately 10 % to $ 344 million as compared to $ 384 million in the prior year .
Generac is updating its overall net sales growth guidance for the full year 2024 to be 4 to 8 % compared to the prior year on an as-reported basis , an increase from the previous guidance range of 3 to 7 %. Adjusted EBITDA margin , before deducting for non-controlling interests , is now expected to be 17.0 to 18.0 % as compared to the previous expectation of 16.5 to 17.5 %.
8 OPE + September 2024 www . OPE-Plus . com