Armac Locação, Logística E Serviços S.A. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 26, 2024 at 08:46 pm EDT
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Armac Locação, Logística e Serviços S.A. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was BRL 437.69 million compared to BRL 308.54 million a year ago. Revenue was BRL 399 million compared to BRL 279.88 million a year ago. Net income was BRL 45.75 million compared to BRL 50.96 million a year ago.
For the full year, the company reported net income was BRL 163.28 million compared to BRL 148.59 million a year ago. Basic earnings per share from continuing operations was BRL 0.47 compared to BRL 0.43 a year ago. Diluted earnings per share from continuing operations was BRL 0.47 compared to BRL 0.43 a year ago.
Armac Locacao Logistica e Servicos SA is a Brazil-based multi-category equipment leasing platform. The Company offers yellow line equipment, which includes wheel loaders, hydraulic excavators, backhoe loaders, crawler tractors, mini loaders, motor graders, road rollers, agricultural tractors, lifting platforms, forklifts and trucks, among others. The Company serves a customer base distributed across 23 Brazilian states and the Federal District, in the agricultural logistics, agro-industrial, fertilizer, mining, pulp and paper, food & beverage, transportation and infrastructure sectors. The Company's business model consists of converting the ownership of the equipment into a service provided to the customer, in contracts that include availability for 24-hour maintenance on the asset and flexibility to return or replace the equipment when the customer's project is completed.
ARMAC LOCAÇÃO, LOGÍSTICA E SERVIÇOS S.A. 
