Rental Fuels Noble Iron’s Revenue Jump in Third Quarter

Distributor and rental company Noble Iron posted total third quarter revenue of $7.3 million, compared to $5.8 million in the third quarter a year ago, a 26.2-percent hike.

Michael Roth

Nov. 18, 2015

2 min read

Noble Iron is an exclusive distributor of Allied Construction Products in southeast Texas.

Distributor and rental company Noble Iron posted total third quarter revenue of $7.3 million, compared to $5.8 million in the third quarter a year ago, a 26.2-percent hike. The construction and industrial rental and distribution segment of the company jumped 36 percent year over year from about $4.6 million to $6.2 million, with rental the primary driver of the increase, company officials said.

Noble Iron’s software segment, Texada Software, decreased from $1.2 million in the third quarter to $1 million in the recently concluded quarter.

Noble Iron’s adjusted EBITDA was $0.5 million, an increase of $0.1 million year over year. Net loss for the third quarter was $2.3 million, an increase of $700,000 compared to the third quarter of 2014.

For the first nine months of 2015, revenue was $19.5 million, compared to $16.1 million for the first nine months of 2014, a 21-percent hike.

The revenue increases were primarily attributed to higher rental revenues, the company said, as well as increased sales of software licenses and conversions of existing customers from on-premise software to SaaS software, as well as strengthening of the U.S. dollar versus the Canadian dollar.

Noble Iron serves customers in California and Texas, and is exclusive distributor of LiuGong Construction Machinery equipment and Allied Construction Products in Southeast Texas.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.