Equipment Rental Companies Start 2025 with Revenue Growth

May 01, 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. 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.

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