Apr. 21, 2022
Equipment rental revenue was a company record $526.8 million in the 2022 first quarter, up 31.6 percent compared to $400.4 million in the 2021 first quarter.
“We continued our ‘shift into high gear’ with an excellent first quarter,” said Larry Silber, president and CEO. “Our average fleet increased 23.4 percent to $4.5 billion, dollar utilization increased to 41.4 percent, and rental revenue increased 31.6 percent over the prior year. Outstanding execution by our operations and field support team was enhanced by strong demand in our markets and a positive operating environment. The record first quarter results have accelerated our growth expectations for the full year and we now expect 2022 adjusted EBITDA to increase between approximately 31 to 39 percent over 2021.”
Don’t miss the latest news from the equipment and event rental industry.
Click here to subscribe to Rental Pulse and Rental Management magazine.
An official publication of the American Rental Association.
Produced by Rental Management Group. Copyright © 2022 Rental Pulse all rights reserved