Improved Tariff Mitigation Strategy
Initially projected $60 million in incremental tariffs for the year with plans to mitigate 80% to 90% of these costs. The full-year gross impact of tariffs is now expected to be $35 million with a 90% mitigation rate.
Recordable Injury Rate Improvement
Achieved a recordable injury rate (RIR) of 0.67 in the first half of the year, a new safety record, showing continued progress towards a goal of zero injuries.
Strong Performance in European Tower Crane Market
New tower crane orders were up 104% year-over-year, marking the fourth consecutive quarter of year-over-year order improvements.
Middle East Market Growth
Significant infrastructure projects in Saudi Arabia and UAE with large capacity tower crane orders, including a 16-crane order for the Stargate UAE data center project.
Cranes+50 Strategy Success
Non-new machine sales were $162 million during the quarter, up 10% year-over-year, demonstrating momentum in the Cranes+50 strategy.