NationsRent Grows Revenues, Profits in First Six Months of ‘06

Aug. 28, 2006
NationsRent posted total second-quarter revenue of $195.7 million, a 12.7-percent hike from the second quarter of 2005 when it grossed $173.7 million. The company raised its rental revenue 7.7 percent year over year, from $123.4 million in Q205 to $132.8 million this year.

NationsRent posted total second-quarter revenue of $195.7 million, a 12.7-percent hike from the second quarter of 2005 when it grossed $173.7 million. The company raised its rental revenue 7.7 percent year over year, from $123.4 million in Q205 to $132.8 million this year.

The Fort Lauderdale, Fla.-based rental company, acquired July 18 by Charlotte, N.C.-based Sunbelt Rentals, grew its net income 20.6 percent year over year, from $5.1 million in 2005’s second quarter to $6.2 million this year. Sunbelt’s acquisition of NationsRent is expected to be finalized around the end of this month.

For the first six months of 2006, NationsRent posted $356.9 million, up 13.6 percent from the first six months of 2005 when it grossed $314.2 million. Rental revenue increased 9.2 percent year over year for the six-month period, from $223.8 million to $244.7 million. Gross profit rose 28.3 percent year over year from $74.4 million to $95.4 million and net income increased from a $7.6 million loss to a net profit of $3.1 million, a 141.3-percent improvement.

Utilization for the first six months of 2006 was 50.4 percent, compared to 47 percent for the same period in 2005.

NationsRent is No. 6 on the RER 100.