United Rentals Inc. (NYSE: URI), Greenwich, CT, reported sales for the first quarter of $1.1 billion, an increase of 67.7 percent compared to the same period a year earlier. Profit increased 61.5 percent to $21 million.
On April 30, 2012, the company completed the acquisition of RSC Holdings Inc. The results of RSC’s operations have been combined with the company’s results since that date.
Michael Kneeland, CEO, said, "As our end markets recover, we have an opportunity to gain ground where it will be most profitable: with key accounts of all types and specialty rentals. We plan to expand our sales force by at least 10 percent this year to capitalize on over a billion dollars of net fleet purchases. At the same time, we'll continue to drive cost efficiencies and further lower our debt leverage."