Armac Locação, Logística e Serviços S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 06:06 pm EST
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Armac Locação, Logística e Serviços S.A. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net income was BRL 38.84 million compared to BRL 13.68 million a year ago.
For the nine months, net income was BRL 97.82 million compared to BRL 32.15 million a year ago. Basic earnings per share from continuing operations was BRL 0.28 compared to BRL 0.09 a year ago. Diluted earnings per share from continuing operations was BRL 0.28 compared to BRL 0.09 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. 
