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The company plans to update its 2021 financial outlook to reflect the combined operations when it releases financial results for the second quarter in July.
United Rentals website
United Rentals has reported their financial results for the first quarter of 2021, including a total revenue of $2.057 billion and rental revenue
1 of $1.667 billion. The equipment rental revenue was $1.783 million in the first quarter of 2020, equaling a 6.5-percent decrease. However, the year-over-year change in rental revenue improved each month in the quarter, and March was positive year-over-year.
The general rentals segment had an 8.7 percent year-over-year decrease in rental revenue to $1.273 billion for the quarter, and the rental gross margin increased by 20 basis points to 32.3 percent. The rental revenue of the specialty rentals segment, or Trench, Power and Fluid Solutions, increased 1.3 percent year-over-year to $394 million for the quarter, and the rental gross margin increased by 50 basis points to 42.1 percent, mainly due to decreases in temporary labor and fleet repair costs.
United Rentals expands pump presence 20 April 2021
United Rentals Inc has acquired Franklin Equipment LLC, a regional provider of equipment rentals, sales and related services, including pumps, in the US Midwest and Southeast.
Founded in 2008, Franklin Equipment now has 20 locations serving general contractors in Ohio, Indiana, Wisconsin, Kentucky, Tennessee, Alabama, Georgia and South Carolina. The business employs mre than 300 people.
Matthew Flannery, president and CEO of United Rentals, said: “This transaction expands our presence in key markets for our general rentals business, with an experienced team that shares our pride in delivering superior customer service.”
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