American Rental Association named Best Place to Work
Quad City headquarters sets the standard for workforce culture The American Rental Association (ARA) has been honored as the Best Place to Work 2021 by the Quad City Times. The recognition is based on an employee nomination and employee voting. The ARA topped the list of Best Places to work in a region with a strong manufacturing legacy. The area is also a business hub with more than 150 companies on Fortune’s 500 and 1000 lists. The...
Herc Holdings to acquire Toronto-based Rapid Equipment Rental Limited
Herc Holdings Inc., a North American equipment rental supplier operating as Herc Rentals Inc., has announced that it has entered a purchase agreement to acquire Toronto-based Rapid Equipment Rental Limited (Rapid Equipment). The transaction is subject to customary closing conditions with a plan to close in the fourth quarter of 2021. Terms were not disclosed. Rapid Equipment, a full-service general equipment rental company founded in...
ARA forecast continues to call for significant increases in revenue and investment
Outlook for equipment rental revenue remains positive for 2021 and beyond The outlook for equipment rental revenue, comprised of the construction/industrial and general tool segments, remains positive for 2021 and beyond. The updated third-quarter forecast released by the American Rental Association (ARA) today at The ARA Show™ 2021 in Las Vegas, shows equipment rental revenue to exceed $47.6 billion in 2021, a 3 percent increase over...
ARA forecasts 3.5 percent increase for the rental equipment industry
The outlook for equipment rental revenue, comprised of the construction/industrial and general tool segments, has improved over the last quarter. The updated second-quarter forecast released by the American Rental Association (ARA) now calls for equipment rental revenue to exceed $47.8 billion in 2021, nearly a 3.5 percent increase over 2020 and greater than last quarter’s forecast that called for a 3.1 percent increase this year....
United Rentals first quarter ’21 total revenue drops
United Rentals reported total revenues of $2,057 million in the first quarter of 2021 compared to $2,125 million in the first quarter of 2020, a 3.2-percent dip. Equipment rental revenue was $1,667 million in first-quarter 2021 compared to $1,783 million in the first quarter of 2020, a 6.5-percent decrease. The general rentals segment decreased year over year to $1,273 million for the quarter. Rental gross margin increased by 20 basis...
ARA revenue forecast calls for modest growth in 2021 accelerating in 2022 and beyond
The American Rental Association (ARA) is forecasting a 13 percent decline in equipment and event rental revenue this year compared to 2019, dropping to $48.7 billion in the United States. However, the latest forecast released by the association on November 12 calls for modest overall growth in 2021, ticking up 0.3 percent to $48.9 billion, before accelerating recovery kicks in with the growth of 9.2 percent in 2022, 6.8 percent in...
Herc Holdings reports 12.5% 2020 third quarter revenue decrease and nine months results
2020 Third Quarter Highlights and Updated Guidance – Equipment rental revenue was $402.3 million and total revenues were $456.7 million – Net income was $39.9 million, or $1.35 per diluted share – Adjusted EBITDA was $196.7 million; adjusted EBITDA margin improved 190 bps to 43.1% – Full-year 2020 adjusted EBITDA guidance was raised to a range of $655 million to $675 million from a range of $625 million to $650 million Herc Holdings...
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