By Ben Thorpe – Equipment World By FUSABLE – April 30, 2025
In the latest round of earnings reports, major equipment rental companies operating in the U.S. – United Rentals, Ashtead Group and Herc Rentals – saw rental revenue growth in the first three months of the year.
Herc Rentals
For its first quarter 2025 earnings, Herc Rentals reported total revenue of $861 million, up 7% from $804 million in the first quarter of 2024. This was driven by a $20 million increase in equipment rental revenue, reflecting uneven demand across end markets and incremental revenue from prior year greenfield locations and acquisitions.
Equipment rental revenue in the first quarter was up 3% to $739 million.
“As expected, the 2025 operating landscape continues to be a tale of two disparate economic trends,” said Larry Silber, Herc Rentals president and chief executive officer. “Our national account business is growing, fueled by federal and private funding for large construction projects like data centers, manufacturing on-shoring and LNG facilities. At the same time, while facility maintenance, municipal and infrastructure projects are supporting the local markets, other more interest-rate sensitive projects continue to be on hold, restricting overall local account growth.”