Sunbelt Rentals reports 31 percent revenue increase

Sunbelt Rentals, Fort Mill, S.C., today reported total revenue of $2.17 billion during the 2022 fiscal second quarter, up 31 percent compared to $1.66 billion the year before. Rental revenue was $2.01 billion, up from $1.57 billion the year before.

During the first half of the year, total revenue was $4.07 billion, up 30 percent compared to $3.12 billion. Rental revenue was $2.95 billion, up 26 percent compared to $2.34 billion the year before.

In the UK, Sunbelt Rentals reported total revenue of $207 million during the 2022 fiscal second quarter, down 15 percent compared to $245 million the year before. Rental revenue was $165.3 million, down compared to $190 million the year before.

Total revenue during the first half of the year was $430.1 million, down from $510.5 million the year before. Rental revenue increased 6 percent.

In Canada, Sunbelt Rentals reported total revenue of $160 million during the 2022 fiscal second quarter, up 25 percent compared to $128 million the year before. Rental revenue was $137.5 million, up compared to $117.9 million the year before.

During the first half of the year, total revenue was $297.1 million, up from $249.4 million the year before. Rental revenue increased 20 percent.

Ashtead Group, the parent company of Sunbelt, reported total revenue of $2.54 billion during the fiscal second quarter, up 28 percent compared to $2.03 billion the year before. Rental revenue during the second quarter was $2.31 billion, up 26 percent compared to $1.88 billion the year before.

Total revenue for the first half of the year was $4.80 billion, up 26 percent compared to $3.88 billion. Rental revenue for the first half of 2022 was $4.38 billion, up 26 percent compared to $3.55 billion.

During the second quarter, 15 businesses were acquired. The acquisitions included:

• On Aug. 2, 2022, Sunbelt Canada acquired the entire share capital of Compact Rentals — a general tool business in Alberta, Canada.
• On Aug. 3, 2022, Sunbelt US acquired the business and assets of Rental Country — a general tool business in New Jersey.
• On Aug. 10, 2022, Sunbelt US acquired the business and assets of R.J. Lalonde — a general tool business in California.
• On Aug. 24, 2022, Sunbelt US acquired the business and assets of Alaska Pacific Rental — a general tool business in Alaska.
• On Aug. 31, 2022, Sunbelt UK acquired the entire share capital of Optimum Power Services — a specialty business.
• On Sept. 1, 2022, Sunbelt Canada acquired the entire share capital of Flagro Industries — a specialty business in Ontario, Canada.
• On Sept. 1, 2022, Sunbelt Canada acquired the entire share capital of Xtreme Rentals — a general tool business in Alberta.
• On Sept. 16, 2022, Sunbelt US acquired the business and assets of Tel-Power Tool & Equipment Rental — a general tool business in Pennsylvania.
• On Sept. 21, 2022, Sunbelt US acquired the business and assets of Rent Mart — a general tool business in Pennsylvania.
• On Oct. 3, 2022, Sunbelt UK acquired the business and assets of Media Access Solutions — a specialty business.
• On Oct. 5, 2022, Sunbelt US acquired the business and assets of Runjesnor, Limited Partnership (Bilt Rite) — a specialty business in Texas.
• On Oct. 11, 2022, Sunbelt US acquired the business and assets of Comeback Rentals — a general tool business in South Carolina.
• On October 12, 2022, Sunbelt US acquired the business and assets of Presbone Corp. d/b/a Pinellas Rental Center — a general tool business in Florida.
• On Oct. 19, 2022, Sunbelt US acquired the business and assets of Meco Miami — a general tool business in Florida.
• On Oct. 26, 2022, Sunbelt US acquired the business and assets of Heater Rental Services — a general tool and specialty business in Minnesota.