Sunbelt Rentals posts 21% revenue gain for FY Q1-Q3

Sunbelt Rentals has reported $1.368 billion in total revenue for the first three quarters of fiscal 2013 through January 31, up 21 percent from $1.130 billion for the previous year’s first nine months, Rental Equipment Register (RER) reported.

EBITDA for the nine-month period was $571.5 million, an increase of 37 percent from $416.5 million for the previous nine-month period. EBITDA margin was 41.8 percent, up from 36.9 percent the previous year.

Rental revenue for the nine-month period was $1.213 billion, an increase of 20 percent from $1.012 billion for the previous year.

Group revenue for the Ashtead Group, including U.K. equipment rental company A-Plant, totaled about U.S. $1.525 billion (£1014.3 billion), a 19.8-percent increase from the approximated $1101.7 million (£846.8 million) from the previous year. A-Plant EBITDA was about U.S. $65.7 million (£43.7 million), an 18.4 percent increase from the approximated $48 million (£36.9 million) a year ago.

For the third quarter, Sunbelt Rentals posted about U.S. $427.2 million (£284.1 million) in total revenue, a 25.3-percent increase from the approximated $294.9 million (£226.7 million) a year ago.

Additionally, Geoff Drabble, chief executive of Ashtead, said Sunbelt plans to pull about $100 million of fleet expenditure, which was originally planned for use in fiscal 2014, to use in the fourth quarter 2013.