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United Rentals, Inc. (NYSE: URI), Greenwich, CT, reported third-quarter sales of $1.2 billion, up 71 percent over the same period a year ago. Rental revenues grew 74 percent to $1.05 billion. Profit grew 12.3 percent to $73 million.
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"All but one of our regions reported year-over-year rate increases, and we now expect a rate gain of approximately 7 percent for the full year," CEO Michael Kneeland said.
Integration of RSC Holdings, Inc., acquired earlier this year, continued during the quarter. To date, the combined company has consolidated 187 branches and realigned existing sales territories.
For the first nine months of 2012, United Rentals' sales were $2.9 billion, up 52 percent over the same period a year ago. Rental revenue grew 55 percent to $2.4 billion. Profit was $34 million, compared with $72 million for the first nine months of 2011.