United Rentals Inc. (NYSE: URI), Stamford, CT, reported sales for the first quarter of $1.3 billion, up 11.6 percent over the same period a year ago. Rental sales were up 11.9 percent to $1.1 billion. Profit increased 91.7 percent to $115 million.
"The year has had some early headwinds, including a decline in upstream oil and gas activity, a harsh winter, and the adverse currency impact of a strong U.S. dollar," said Michael Kneeland, CEO. "We've offset these pressures by redistributing underutilized fleet to areas of higher demand. An improving rental landscape, and the strong performance of our power and trench specialty lines, helped drive our 12 percent increase in rental revenue."