Tax Reform and a Solid Economy Support the Heavy Equipment Sector Despite U.S. Steel Tariffs
It appears that heavy equipment investors are in for a first-quarter 2018 earnings season even more stellar than we previously expected. In our view, first-quarter performance for companies within the heavy-equipment industry was already likely to be strong, particularly given recent U.S. tax reform, which we believe incentivized both customers and manufacturers to move orders from the fourth quarter of 2017 to the first quarter of 2018 to take advantage of immediate depreciation allowance and l...
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