Articles
advertisement
Resources
Issue Archive
Event Calendar
Green Industry and Equipment Expo
Power-Gen International
Dec. 2-4
Orlando, FL
www.power-gen.com
World of Concrete
Feb. 3-6, 2009
Las Vegas Convention Center
Las Vegas, NV
www.worldofconcrete.com
The Rental Show
March 2-5, 2009
Georgia World Congress Center
Atlanta, GA
www.therentalshow.com
Second-Quarter Earnings a Mixed Bag for Rental Companies
“Our second-quarter performance reflects the impact of expected market weakness on our core rental business, counteracted in part by the proactive implementation of our profit improvement strategy,” said United Rentals CEO Michael Kneeland.
Based in Greenwich, Conn., United Rentals is No. 1 on the RER 100.
H&E Equipment Services' second-quarter revenues jumped 21.2 percent to $282.6 million compared with $233.1 for the same period last year. The Mid-Atlantic region, created after H&E's recent acquisition of Burress Equipment, contributed $40.6 million of the $49.5 million increase, thus making same-store revenue increase relatively minimal.
Equipment rental revenue increased from $69.6 million to $75.2 million, an 8-percent hike. For the first six months of 2008, equipment rental jumped from $132.8 in 2007 to $146.4 million, a 10.2-percent hike. Total revenue increased 19.3 percent, from $442.9 million in the year-ago period, to $528.4 for the first six months of 2008.
“We are pleased with our performance during the second quarter given the increasing macro-economic challenges and the trickle-down affects on the non-residential construction markets,” said John Engquist, H&E's president and CEO.
Based in Baton Rouge, La., H&E Equipment Services is No. 9 on the RER 100.
Volvo Rents said revenue for its North American franchise network grew 16 percent year over year to $143.5 million, compared with the first six months of 2007. Based in Asheville, N.C., Volvo Rents is No. 17 on the RER 100.
Hertz Global Holdings last week reported record second-quarter 2008 worldwide revenues of $2.3 billion, an increase of 4.6 percent over the prior year on strong international growth.
blog comments powered by Disqus
Want to use this article? Click here for options!
© 2008 Penton Media Inc.
most recent story
popular articles
advertisement
Popular Articles
- United Rentals 3Q Revenue Drops 12 Percent
- Industrial Base Helps H&E Equipment Services Hold Steady in Q3
- HERC Announces Rental Rate Hikes
- Telematics: A 2008 Rental Odyssey
- Taking the long view
Stock Block
Buyers Guide
Buyers Guide
The RER Industry Directory is the resource buyers like yourself rely on when looking for up-to-date information on the products or services you are searching for.
Learn More
Rental Rate Guide
Rental Rate Guide 2008
Want to know how much equipment is renting for these days? Find out in RER’s original 2008 Rental Equipment Rate Guide.
Learn More