Construction, Used Equipment Markets Underpin Well-Received United Earnings
United’s deal with H&E is expected to close by the end of the first quarter, Flannery said. (United Rentals)
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Profit and revenue at United Rentals rose in the fourth quarter of 2024, winning plaudits from analysts and investors.
The Stamford, Conn.-based company, which ranks No. 11 on the Transport Topics Top 100 list of the largest private carriers in North America, posted a 1.5% increase in Q4 net income to $689 million from $679 million.
United’s revenue totaled $4.095 billion in the three months that ended Dec. 31, a 9.8% increase from $3.728 billion a year earlier. The company’s rental revenue for the quarter increased 9.7% year over year to a fourth-quarter record of $3.422 billion from $3.119 billion.
Breaking down the company’s revenue, United’s general rentals operations revenue saw a 2.2% year-over-year increase to a fourth-quarter record of $2.339 billion from $2.289 billion.
But specialty rentals revenue jumped 30.5% year over year to a fourth-quarter record of $1.083 billion, boosted by the March 2023 Yak Access acquisition, from $830 million. Even excluding the im…
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