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MAY 2012 issue of
Rental Management

By the numbers


Revenues according to a preliminary report of results for 2011 for Tanfield Group, the parent company of Snorkel brand aerial lifts, up 11 percent over 2010. “Demand for aerial lifts began to return in key markets during 2011 and grew as the year progressed, clearly demonstrated by the order book we brought into 2012,” said Jon Pither, Tanfield chairman.


Percentage of mobile subscribers who owned smartphones as of February 2012, according to Nielsen, up from 36 percent a year ago. Nielsen said two-thirds of those who acquired a new phone in the last three months chose a smartphone over a feature phone.

Industry Average Age by Major Category

Editor’s note: The chart below is reprinted from the Rouse Rental Report March 2012 newsletter by permission of Rouse Asset Services, Beverly Hills, Calif. Average age in months is a measure of equipment fleet age. Age is defined as the number of months since an equipment unit was first placed in service. Industry average age by category and in total is determined by multiplying individual equipment ages by their respective original cost and dividing the sum of those individual calculations by the total original cost of the same equipment. The chart shows the average age of the top 10 categories of equipment (measured by total $ in fleet) for major rental companies and the total average industry fleet age for rental assets.

Top 10 Categories Industry Average Age* (months)
AWP - Articulating Boom 53.4
AWP - Scissor Lifts 57.4
AWP - Telescopic Boom 57.8
Compaction Equipment 50.2
Dozers 56.8
Excavators 45.5
Forklifts Hi-Reach 58.7
Loader Backhoes 49.9
Skid Steer Loaders 40.4
Wheel Loaders 51.0
All Rental Categories 51.6
















*Weighted by Cost Source: Rouse Asset Service


Number of years New Holland Construction has been manufacturing skid-steer loaders. The company first introduced the L35 vertical lift skid-loader in 1972. The company said it has produced more than 200,000 skid-loaders since then for customers in the construction, landscaping and agricultural markets and that a special 40th anniversary logo has been created to commemorate the milestone.


Number of man-hours without a lost time injury at the Johnson Creek, Wis., facility of Schiller Grounds Care, Southampton, Pa. The company said it took the facility’s employees just under 12 years to reach the milestone.



Percentage increase in fourth quarter revenue for Titan Machinery, West Fargo, N.D., to $607 million compared to $368.1 million in the further quarter of 2010. All three of the company’s main revenue sources — equipment, parts and service — contributed to revenue growth.


Number of engines Kohler Engines, Kohler, Wis., has donated to hundreds of educational institutions across the United States. The company said it partnered with several nonprofit organizations on the one-time gift of engines that were distributed only to schools that agreed to utilize the donated products exclusively for educational purposes.

United Rentals

Editor’s note: United Rentals, Greenwich, Conn., released its first quarter 2012 results on April 17, showing gains in revenue, time utilization, fleet growth and volume of equipment on rent. “Our performance surpassed all prior first quarters, with record time utilization, record fleet growth and record adjusted EBITDA, both dollars and margin,” said Michael Kneeland, CEO, United Rentals. “Once again we drove profitable growth faster than the construction recovery. Both core areas of our business — general rentals and specialty operations — realized higher rates year-over-year on a fleet that was about $600 million larger on average. These results speak volumes about the effectiveness of our strategy and the ongoing secular shift toward renting.” The following are some of the key first quarter 2012 numbers for United Rentals:


Total revenue for the first quarter 2012 compared to $523 million last year, up 25.4 percent.


Rental revenue for the first quarter 2012 compared to $434 million last year, a 20.5 percent increase.


Increase in the size of the company’s fleet in the first quarter 2012 measured on an original equipment cost (OEC) basis. The fleet was 16.2 percent larger, on average, compared to the same period last year.


Proceeds for used equipment sales during the first quarter 2012 at a gross margin of 38.2 percent, compared with $32 million of proceeds at a gross margin of 43.8 percent for the same period last year.


Net income on a GAAP basis for the first quarter 2012 compared to a net loss of $20 million for the same period last year.


Time utilization percentage for the first quarter 2012, up 1.2 percentage points from the same period last year.


Date in April both United Rentals and RSC were scheduled to hold special meetings at which their respective stockholders will vote on whether to approve the merger agreement the two companies entered into on Dec. 15, 2011. If approved, the company anticipated closing the transaction on April 30, 2012.


Percentage increase in volume of equipment on rent for the first quarter 2012 compared to the same period last year.


Year-over-year percentage increase in rental rates in the first quarter 2012. The company expects to show an increase in rental rates of about 5 percent for the full year.




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