17.10.2014

14% rise for United

United Rentals has reported revenues for the first nine months of $4.12 billion, a 14 percent increase on last year, while pre-tax profits improved over 42 percent to $539 million. In the third quarter revenues rose 15 percent, with pre-tax profits rising 39 percent. Physical utilisation over the nine months was 68 percent.

Chief executive Michael Kneeland said: "The third quarter provided further confirmation that our strategy and the North American construction recovery are both solidly on track. Our end markets are continuing to rally, creating numerous opportunities for well-managed, profitable growth. We reported a robust 16% increase in rental revenue for the quarter— and more importantly, the discipline behind that growth is evident in our record EBITDA margin and gains in volume, utilization and rates."

"While we reported very strong results, we believe they reflect just a fraction of what our company can achieve over multiple years in the forecasted upcycle. More immediately, we believe that the current uncertainty in the financial markets relates to global concerns, and not North America. We'll continue to take the actions that drive returns over time, including rigorous fleet management, the expansion of our specialtiy rental lines, and transformational measures for greater productivity."