United Rentals, Inc. (NYSE: URI), Stamford, CT, reported double-digit increases for the fourth-quarter and full-year 2018.
Fourth-quarter sales rose 20 percent to $2.3 billion, and profit was $310 million. For the full year, sales rose 21 percent to $8.047 billion, and profit was $1.096 billion.
The company said fourth-quarter rental revenue rose 21 percent to $1.99 billion, and full-year rental revenue rose 21 percent to $6.94 billion.
The results follow several acquisitions in 2017 and 2018, including NES Rentals Holdings, Neff Corp., BakerCorp International Holdings, Inc., and BlueLine.
“We delivered strong fourth quarter results, including broad volume growth and rental rate improvement, in a year that leveraged our numerous competitive advantages,” Michael Kneeland, the company’s chief executive officer, said in a statement announcing the results.
© 2019 Gale Media, Inc.
Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.
The 2018 Top Distributors List
This free PDF includes lists of top distribution companies across 14 sectors.
You will also receive MDM Update, our daily distribution e-newsletter & other distribution-focused content.
Download the Free PDF now >>
MDM Update: Daily Newsletter
Sign up to read the best source for news & trends in wholesale distribution, MDM Update. Delivered daily to your inbox.
Sign-up for MDM Update >>