Financial

Equipment manufacturers, now more than ever, are doubling down on efforts to communicate to lawmakers about the important role federal infrastructure investment should play as part of our national economic recovery from the coronavirus pandemic. At the outset of the coronavirus pandemic in the United States, AEM sent a letter to President Trump and Congressional leadership urging them to include infrastructure investment in a government relief package.

States leveraged $31 billion in federal funds to advance $66.5 billion in highway improvements during fiscal year (FY) 2018, according to an interactive tool that for the first time provides the American public and elected officials a clear look at how and where each state invests its transportation tax dollars.

The COVID-19 pandemic has dramatically impacted the construction industry with international and domestic supply chains shut down, jobsites closed and projects delayed or outright cancelled. In response many construction companies have implemented workforce reductions.

The South Carolina Department of Transportation (SCDOT) has released its initial projections of the financial impact of COVID-19, indicating a decrease in agency revenues based on expected reductions in gas tax and car sales tax receipts. SCDOT reported the financial forecast at the May 21, 2020, Transportation Commission meeting.

Ritchie Bros. Auctioneers Incorporated reported the following results for the three months ended March 31, 2020: Net income attributable to stockholders increased 26 percent to $22.8 million compared to $18.2 million in Q1 2019. Diluted earnings per share ("EPS") attributable to stockholders increased 24 percent to $0.21 per share in Q1 2020 compared to $0.17 per share in Q1 2019.

General contractors and subcontractors across the nation are witnessing increases in construction costs, be it for department of transportation contracts or commercial, industrial, institutional and residential projects. While some companies, due to their size and geographical range, have been aware of the trend from the beginning, others are dealing with it on a case-by-case basis and are seeking data to confirm their suspicions.

One of the most important considerations is the repayment schedule offered by your lender when deciding to finance a piece of equipment or inquiring about a working capital loan. Weighing the options for repaying your loan is an easy way to gain control of your business' cash flow and flexibility in your finances is critical to running your business efficiently.

Gov. Gary Herbert and Treasurer David Damschen announced that S&P Global, Moody's Investors Service and Fitch Ratings have reaffirmed the State's AAA credit rating — the highest rating a state can receive. "Utah once again stands out as a leader in the nation for its broad fiscal and economic success, which can be largely credited to our conservative approach to budgeting, debt management and other financial policies," Herbert said.

The vast majority (78 percent) of U.S. businesses of all sizes – from small entrepreneurs to Fortune 100 companies – in all industries – from construction to healthcare – lease or finance their equipment. Here are some reasons why: Finance 100 percent: Arrange 100 percent financing of your equipment, software and service with 0 percent down payment.

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in reaction to the introduction of H.R. 4997, the Giving Retirement Options to Workers Act of 2018, or GROW Act for short by Congressmen Phil Roe and Donald Norcross: "This new Congressional proposal provides attractive new options for many firms that are looking to offer good retirement benefits without incurring the liability that comes with traditional defined benefit plans.

Construction spending increased for a fifth consecutive month in December as private residential and nonresidential investment for the year topped 2016 totals, while declining infrastructure spending dragged down public-sector outlays, according to an analysis of new government data by the Associated General Contractors of America.