Quick Hits: October 28, 2020

Ranger Tugs and Cutwater Boats announce dealer awards; Cummins announces 3Q results.
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Pacific Northwest builders Ranger Tugs and Cutwater Boats have announced dealer awards for 2020. For Ranger Tugs, Pocket Yacht Company — with dealerships in Maryland, North Carolina and Florida — was awarded its top domestic dealer; Bellingham Yachts was honored for top sales for Cutwater. Port Boat House, in British Columbia, Canada, was named largest international dealer for both brands. Awards were also given for gold dealer and rookie of the year. The complete list can be seen here.

Revenue at Cummins dropped to $5.1 billion, or by 11 percent in the third quarter, with North American sales declining 18 percent. Engine segment sales were $2.1 billion, down 13 percent from last year. “We are encouraged by the recovery in demand across our markets in the third quarter,” said Cummins chairman and CEO Tom Linebarger in a statement. “We will continue to manage cautiously through the remainder of the year as visibility on future orders remains low and the impact of the virus on economies around the world remains difficult to predict.”


Viking Holds Vaccination Event

The New Jersey-based builder is working with local healthcare providers to offer Covid-19 shots to employees and their families.

Bellingham to Supply Dock for Superyacht Marina

Bellingham Marine will design and install a floating concrete dock system at Hurricane Hole Superyacht Marina in the Bahamas.

Off the Charts

Even as builders faced order backlogs and product shortages, registrations continued to soar in March.

Maverick Boat Group Expands

The Florida-based builder plans to increase production capacity by 30 percent and add 150 new jobs.

Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.