Technology

Used Construction Equipment Rentals Remain Strong as Sales Cool

Published

5 months ago

June 3, 2026

LINCOLN, Neb., June 3, 2026 /PRNewswire/ — Used construction equipment inventory levels continued to decline in May, led by crawler excavators and wheel loaders, according to the latest Sandhills Global market reports. The reports cover used heavy machinery, farm equipment, trucks, and trailers on MachineryTrader.com and several other Sandhills platforms worldwide.

“Rental utilization remains strong,” says RentalYard Sales Manager Matt Sterup, “but rising prices, especially fuel costs, are limiting customer’s ability to buy construction equipment. In lift equipment categories, it’s also becoming more difficult to find quality used equipment.”

Used heavy-duty trucks also experienced inventory level decreases in May, continuing a months-long downward trend. “Rising fuel costs have reduced some of the momentum gained in the truck market, but sentiment is still positive,” says Truck Paper Manager Scott Lubischer. “Freight rates are increasing and inventory is leaving the market at a pace similar to that of 2022 without being replaced. Newer trucks are starting to move, and buyers will be watching closely for lower-mileage trucks. Despite rising prices, dealers anticipate they won’t rise to 2022 levels.”

The key metric in all of Sandhills’ market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets and model-year equipment actively in use. EVI spread measures the percentage difference between asking and auction values.

Market Report Details
Sandhills market reports highlight the most significant changes in Sandhills’ used heavy-duty truck, semi-trailer, farm machinery, and construction equipment markets. Key points from the current reports are listed below. Full reports are available upon request.

U.S. Used Heavy-Duty Construction Equipment

Inventory levels in this market posted a marginal decrease of 0.16% month over month and fell 11.55% year over year in May and are trending down. Used crawler excavators had the largest M/M inventory change, down 1.41%, while used wheel loaders posted the largest Y/Y inventory change with a 13.32% decrease.Asking values posted dipped 0.89% M/M and 3.02% Y/Y and are trending down. Used crawler excavators had the largest M/M asking value change, down 1.75%, while used wheel loaders had the largest Y/Y asking value change, down 4.14%.Auction values decreased 1.53% M/M and 1.87% Y/Y and are trending sideways. Used wheel loaders had the largest M/M auction value change, down 2.41%, while used crawler excavators posted the largest Y/Y auction value change with a 3.44% decrease.

U.S. Used Medium-Duty Construction Equipment

Inventory levels of used medium-duty construction equipment posted a slight increase of 0.39% M/M but fell 15.65% Y/Y in May and have been trending down for seven consecutive months. Used wheeled skid steers had the largest M/M inventory change, up 2.93%, while used loader backhoes posted the largest Y/Y inventory change with a 26.5% decrease.Asking values decreased 0.86% M/M and 0.63% Y/Y and are trending sideways. Used track skid steers had the largest asking value changes, down 1.17% M/M and 1.64% Y/Y.Auction values posted marginal decreases of 0.86% M/M and 0.14% Y/Y and are trending sideways. Used track skid steers had the largest M/M auction value change, down 1.4%, while used wheeled skid steers posted the largest Y/Y auction value change with a 3.05% increase.

U.S. Used Aerial Lifts

Inventory levels in this market decreased 2.92% M/M and 2.99% Y/Y in May and are trending down. Used slab scissor lifts had the largest M/M inventory change, down 3.78%, while used articulating boom lifts posted the largest Y/Y inventory change with an 11.67% increase.Asking values decreased 1.26% M/M and 1.21% Y/Y and are trending sideways. Used telescopic boom lifts had the largest asking value changes, down 3.61% M/M and 4.08% Y/Y.Auction values decreased 1.73% M/M and 3.98% Y/Y and are trending down. Used telescopic boom lifts had the largest auction value changes, down 4.42% M/M and 5.67% Y/Y.

U.S. Used Forklifts

Inventory levels in this market jumped 5.63% M/M and 17.28% Y/Y in May and are trending up. Used cushion-tire forklifts had the largest inventory changes, up 6.57% M/M and 25.75% Y/Y.Asking values posted a marginal increase of 0.06% M/M but decreased 3.23% Y/Y and are trending down. Used cushion-tire forklifts had the largest asking value changes, up 0.77% M/M and down 7.56% Y/Y.Auction values decreased 1.06% M/M and 3.49% Y/Y and are trending down. Used cushion-tire forklifts had the largest auction value changes, down 1.97% M/M and 8.57% Y/Y.

U.S. Used Telehandlers

Inventory levels of U.S. used telehandlers increased 3.02% M/M and 5.3% Y/Y in May and are trending sideways.Asking values increased 2.01% M/M but slipped 1.78% Y/Y and are trending sideways.Auction values increased 1.05% M/M but decreased 1.58% Y/Y and are trending up.

U.S. Used Heavy-Duty Trucks

Inventory levels in this market fell 1.5% M/M and 23.14% Y/Y in May and have been trending down for six months. Used sleeper trucks had the largest M/M inventory change, down 3.3%, while used day cab trucks posted the largest Y/Y inventory change with a 25.31% decrease.Asking values increased 1.63% M/M but decreased 1.29% Y/Y and are trending sideways. Used sleeper trucks led in M/M asking value changes with a 2.94% increase, while used day cab trucks had the largest Y/Y asking value change with a 4.09% decrease.Auction values increased 3.07% M/M and 2.34% Y/Y and are trending up. Used sleeper trucks took the lead in auction value changes, growing 4.62% M/M and 3.91% Y/Y.

U.S. Used Semi-Trailers

Inventory levels of used semi-trailers posted a modest increase of 0.28% M/M but fell 26.9% Y/Y in May, continuing a 10-month-long downward trend. Used dry van trailers had the largest M/M inventory change, up 2.51%, while used reefer trailers posted the largest Y/Y inventory change with a 31.49% decrease.Asking values posted a marginal decrease of 0.28% M/M but rose 2.61% Y/Y and are trending up. Used reefer trailers had the largest asking value changes, down 1.17% M/M and up 7.23% Y/Y.Auction values inched downward by 0.6% M/M but jumped 6.35% Y/Y and are trending up. Used dry van trailers had the largest M/M auction value change, down 3.68%, while used reefer trailers posted the largest Y/Y auction value change with a 19.53% increase.

U.S. Used Medium-Duty Trucks

Inventory levels of used medium-duty trucks decreased 0.93% M/M and 37.52% Y/Y in May. Inventory levels in this market have been trending down for nine consecutive months.Asking values dropped 1.81% M/M and 6.05% Y/Y and are trending down.Auction values were down 2.39% M/M and 3.76% Y/Y and are trending down.

U.S. Used Tractors 100 Horsepower and Greater

Inventory levels in the used high-horsepower tractor market decreased 0.81% M/M and 16.23% Y/Y in May and have been trending down for 12 months. Used 100-to-174-HP tractors had the largest inventory changes, down 1.38% M/M and 21.99% Y/Y.Asking values posted modest decreases of 0.51% M/M and 1.75% Y/Y and are trending down. Used 175-to-299-HP tractors had the largest M/M asking value change, down 1.36%, while used tractors 300 HP and greater posted the largest Y/Y asking value change with a 1.85% decrease.Auction values were down 0.9% M/M but increased 2.36% Y/Y and are trending sideways. Used 175-to-299-HP tractors posted the largest auction value changes, down 1.38% M/M and up 3.21% Y/Y.The EVI spread, which measures the percentage difference between asking and auction values, increased from 31% in April to 32% in May. This is lower than the peak values observed in 2015.

U.S. Used Combines

Used combine inventory levels posted a modest increase of 0.6% M/M but fell 10.09% Y/Y in May and are trending down.Asking values decreased 2.61% M/M and 1.22% Y/Y and are trending sideways.Auction values decreased 1.52% M/M, increased 0.76% Y/Y, and are trending sideways.The EVI spread was 38%, down from 40% in April and lower than the peak values observed in 2015.

U.S. Used Sprayers

Inventory levels of used sprayers inched lower by 0.8% M/M in May, fell 19.18% Y/Y, and continued a 6-month-long downward trend.Asking values decreased 2.84% M/M and 2.59% Y/Y and are trending down.Auction values dropped 5.94% M/M and decreased 2.9% Y/Y and are trending down.The EVI spread jumped four percentage points in May, to 40%, which is still lower than the peak values observed in 2015.

U.S. Used Planters

Used planter inventory levels dropped 5.33% M/M and fell 26.36% Y/Y in May and are trending down, continuing a 7-month-long pattern.Asking values posted a marginal decrease of 0.15% M/M but increased 2.57% Y/Y and are trending sideways.Auction values decreased 3.26% M/M but jumped 5.01% Y/Y and are trending sideways.The EVI spread increased from 49% in April to 53% in May, still lower than the peak values observed in 2015.

U.S. Used Compact and Utility Tractors

Inventory levels in this market fell 2.91% M/M and 28.25% Y/Y in May and have been trending down for seven months. Used tractors with less than 40 HP had the largest inventory changes, down 5.87% M/M and 33.26% Y/Y.Asking values remained almost flat with a 0.02% M/M increase and rose 1.63% Y/Y. Asking values have been trending up for five consecutive months. Used 40-to-99-HP tractors had the largest asking value changes, up 0.04% M/M and 1.76% Y/Y.Auction values posted a marginal decrease of 0.16% M/M but increased 2.76% Y/Y and are trending up. Used tractors with less than 40 HP had the largest auction value changes, posting gains of 0.61% M/M and 2.81% Y/Y.

U.S. Used Self-Propelled Forage Harvesters

Inventory levels in this market decreased 0.87% M/M and 4.47% Y/Y and are trending sideways.Asking values increased 2.03% M/M and 0.61% Y/Y and are trending up.Auction values increased 3.8% M/M and 5.6% Y/Y and are trending up, continuing a pattern of monthly increases over the past several months.

Obtain the Full Reports
For more information or to receive detailed analysis from Sandhills Global, contact us at marketreports@sandhills.com.

About Sandhills Global
Sandhills Global is an information processing company headquartered in Lincoln, Nebraska. Our products and services gather, process, and distribute information through trade publications, websites, and online services that connect buyers and sellers across the construction, agriculture, forestry, oil and gas, heavy equipment, commercial trucking, and aviation industries. Our integrated, industry-specific approach to hosted technologies and services offers solutions that help businesses large and small operate efficiently and grow securely, cost-effectively, and successfully. Sandhills Global—we are the cloud.

About the Sandhills Equipment Value Index
The Sandhills Equipment Value Index (EVI) is a principal gauge of the estimated market values of used assets—both currently and over time—across the construction, agricultural, and commercial trucking industries represented by Sandhills Global platforms, including AuctionTime.com, TractorHouse.com, MachineryTrader.com, TruckPaper.com, and other industry-specific equipment platforms. Powered by Value Insight Portal (VIP+), Sandhills’ proprietary asset valuation tool, Sandhills EVI provides useful insights into the ever-changing supply-and-demand conditions for each industry.

Contact Sandhills
www.sandhills.com/contact-us
402-479-2181

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SOURCE Sandhills Global

Technology

Lovey announces £250m senior secured credit facility with Pollen Street Capital

Published

12 minutes ago

October 27, 2026

UK’s fastest-growing fintech announces its largest funding facility to date to support more UK SMEs

BIRMINGHAM, England, Oct. 27, 2026 /PRNewswire/ — Lovey, the UK’s fastest-growing fintech and financial services provider, specialising in SME lending and brokerage, has today announced a senior secured credit facility of up to £250 million with Pollen Street Capital (“Pollen Street”), an alternative asset manager. The facility is made up of £50 million committed capital and a £200 million accordion, making it the largest funding facility in Lovey’s history and marking a key milestone in the company’s growth.

The facility demonstrates continued institutional investor confidence in Lovey’s lending model, technology and long-term strategy and reinforces Lovey’s position as a leading finance provider focusing on SME funding. The facility will significantly increase Lovey’s lending capacity, supporting the business as it scales its own-book lending while continuing to grow its established brokerage proposition.

Founded by Jack Smith in 2016, Lovey has grown from a one-person start-up into a 120-strong business, funding more than £600 million in loans to over 11,000 UK SMEs. Built around a mission to make lending simple, fast and beautiful, Lovey has expanded rapidly while staying focused on making finance easier and more accessible for small businesses. The new facility will support that mission by giving Lovey the capital to help more UK SMEs access funding quickly and flexibly.

Lovey began lending directly from its own balance sheet in 2022, building on its experience as a broker to develop a deeper understanding of the funding needs of UK SMEs. Today, the business combines direct lending with its established brokerage proposition, giving customers access to both Lovey’s own lending and a wider panel of funding partners. This approach allows Lovey to match businesses with the funding solution that best suits their needs, while the new facility provides greater capacity to grow its direct lending operation.

Jack Smith, Founder and CEO at Lovey, comments:
“This new facility is an important milestone for us and will enable us to put more capital behind UK small businesses, scale our own-book lending and give more SMEs access to finance when they need it. Pollen Street shares our belief that finances for small businesses should be simpler, faster and more flexible, and we’re really pleased to have them backing Lovey for this next stage of growth.”

Kai Hunter, Chief Operating Officer at Lovey, comments:
“The funding announced today is the result of close and collaborative work with Pollen Street and I am grateful to their team, and to our own, for the diligence they brought to it. This funding deepens our lending capacity and allows us to offer larger loans, so that we can back more of the UK’s small and medium-sized businesses, from those that have found finance hardest to secure to the well-established, with greater speed and certainty.”

Ethan Saggu, Investment Director, Pollen Street, adds:
“Lovey has spent almost a decade seeing the UK SME lending market from a broker’s perspective, giving the team an expert view of where demand for credit is going unmet. We have financed a number of specialist SME lenders and recognise what it takes to grow from brokerage into balance-sheet lending. Lovey has done so with a well-defined product and a focused approach, and we look forward to supporting the team as it scales.”

Lovey was advised by Ashurst Perkins Coie and Pollen Street was advised by Simmons & Simmons.

The facility builds on Lovey’s existing funding arrangements announced last year, including a £35 million revolving credit facility from Paragon Bank and a £10 million junior medium-term note programme from LGB Capital Markets. The new facility also adds to Lovey’s growing institutional funding base as it enters its next phase of expansion.

To learn more about Lovey or to apply for a fast, flexible business loan, visit Lovey’s website.

For any further information, please contact: press@lovey.com

About Lovey (the trading name of Love Finance Limited):
Lovey is the UK’s fastest-growing fintech and financial services provider, specialising in SME lending and brokerage. Founded in Birmingham in 2016 by Jack Smith, Lovey has a mission to make lending simple, fast and beautiful. The company has funded more than £600 million in loans for over 11,000 SMEs across the UK.

Recognised by EY, Deloitte, The Sunday Times, Financial Times, UK Growth Index, FEBE, and Sifted as one of the UK’s fastest-growing companies. Lovey combines direct lending and brokerage services to deliver fast, flexible, and tailored funding solutions. With an industry-leading 4.9-star Trustpilot rating, businesses can enquire in 60 seconds and receive funding in as little as 4 hours.

Website: www.lovey.com

Pollen Street Press Office:
FGS Global
Chris Sibbald / Anna Tabor
PollenStreetCapital-LON@fgsglobal.com

About Pollen Street:
Pollen Street is a fast-growing and high performing private capital asset manager. Established in 2013, the firm has built deep capability across the financial and business services sectors aligned with mega-trends shaping the future of the industry. Pollen Street manages over €9bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 100 professionals.

www.pollenstreetgroup.com

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Technology

Baidu to Report Third Quarter 2026 Financial Results on November 16, 2026

Published

12 minutes ago

October 27, 2026

BEIJING, Oct. 27, 2026 /PRNewswire/ — Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today announced that it will report its financial results for the Third Quarter 2026 ended September 30, 2026, before the U.S. market opens on November 16, 2026. Baidu’s management will hold an earnings conference call at 7:30 AM on November 16, 2026, U.S. Eastern Time (8:30 PM on November 16, 2026, Beijing Time).

Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of “Baidu Inc. Q3 2026 Earnings Conference Call”. Please follow the steps to enter your registration details, then click “Register”. Upon registering, you will then be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you as a calendar invite.

For pre-registration, please click:
https://s1.c-conf.com/diamondpass/10057872-oyt4z8.html

In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), the passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.

Additionally, a live and archived webcast of this conference call will be available at https://ir.baidu.com.

A replay of the conference call may be accessed by phone at the following number until November 24, 2026:
US: 1 855 883 1031
Replay PIN: 10057872

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under “BIDU” and the HKEX under “9888.” One Baidu ADS represents eight Class A ordinary shares.

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SOURCE Baidu, Inc.

Technology

IBS Software’s iCargo to power Philippine Airlines Cargo Modernisation

Published

12 minutes ago

October 27, 2026

Airline to move from its current cargo system to a modern, cloud-based platform covering cargo sales, ground handling operations and revenue accounting

MANILA, Philippines, Oct. 27, 2026 /PRNewswire/ — IBS Software’s iCargo, a cloud-based platform bringing cargo sales, ground handling operations and accounting together, has been selected by Philippine Airlines (PAL) to replace its current cargo system. The implementation will extend iCargo’s capabilities across PAL’s domestic and international cargo operations.

As the leading AI-native product company in the travel technology sector, IBS Software will support PAL’s broader cargo transformation and modernisation programme with capabilities that support PAL’s full range of business functions, from commercial and operations to back-office accounting, while enabling further innovation and digitisation through a single, fully integrated cloud-based platform. iCargo will support cargo movements across PAL’s domestic and international operations, including international requirements such as customs reporting, duties and taxes settlement and regulatory compliance. iCargo already supports carriers with this same mix of demands, providing the flexibility, scale and capabilities to manage both.

The transition will enable PAL to address key operational requirements across its cargo operations, including system performance and data analytics. iCargo will provide modern capabilities to support faster shipment processing, greater reliability and end-to-end shipment visibility, while reducing manual intervention and enabling more efficient processes.

Beyond operational efficiency, these capabilities will help PAL Cargo bring its ‘Care that Delivers’ promise to life, giving customers greater confidence through improved shipment visibility, reliable service and a more seamless cargo experience. As cargo volumes continue to grow across its network, the new platform will also provide the technological foundation for continued innovation, operational excellence and long-term growth.

IBS Software’s proposal combined a strong technology fit with a proven track record of delivering successful cargo transformations for airlines worldwide. The selection of iCargo builds on an established relationship between Philippine Airlines and IBS Software, broadening the portfolio of IBS Software products used by PAL and reinforcing their shared commitment to long-term innovation and business growth.

“This initiative represents an important step in the modernisation of our cargo business,” said Jason Siy, Vice President for Cargo Business, Philippine Airlines. “As we grow across our domestic and international network, we need a system that increases visibility, improves operational efficiency and enables us to deliver a better experience for our customers. We see iCargo as a key enabler of our long-term cargo transformation strategy and of our ambition to build an even stronger cargo business for the future.”

“Philippine Airlines has a clear vision for the future of its cargo business, and we are proud to support that journey,” added Sunil George, Vice President & Region Head of Oceania, IBS Software. “This partnership is about more than implementing a new cargo platform. It is about working closely with PAL to build the digital foundation for future growth, innovation and operational excellence, and continuing a relationship we value deeply.”

For more information about IBS Software’s iCargo solution, visit: https://www.ibsplc.com/product/air-cargo-solutions/icargo.

About IBS Software

IBS Software is a leading travel technology company delivering AI-native travel intelligence that enables smarter, faster and more resilient decision-making, with built-in guardrails across aviation, cargo and logistics, and leisure and hospitality. It powers core capabilities for leading travel brands worldwide, spanning airline retailing, passenger services, loyalty, fleet, hub and crew operations, cargo management, and cloud-native platforms for hotels and cruise line operators, and operates from 17 offices globally.

Further information can be found at www.ibsplc.com. Follow us:
Blog | LinkedIn | Facebook | Instagram

About Philippine Airlines

Philippine Airlines (PAL) is the Philippines’ flag carrier and the country’s only full-service network airline. Founded in 1941, PAL is Asia’s first commercial airline and has played a vital role in connecting the Philippines to the world for 85 years.

PAL operates scheduled nonstop flights from its hubs in Manila and Cebu to 29 destinations across the Philippines and 40 destinations in Asia, North America, Australia, and the Middle East.

PAL is an APEX Four Star™ airline and was recognised by Cirium for achieving the highest on-time performance among Asia-Pacific carriers in 2025. In 2026, Philippine Airlines was officially invited to join the oneworld® Alliance.

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SOURCE IBS Software