Healthy Revenues Prevail in Second Quarter

United Rentals announced that total revenues for the second quarter 2006 increased 12 percent to $995 million. In its general rentals segment, which includes rental of construction, aerial, industrial and homeowner equipment as well as related services and activities, second quarter 2006 revenues were $865 million, an increase of 12.2 percent compared with $771 million for the second quarter 2005.

First half 2006 revenues for general rentals were $1.62 billion, an increase of 13.3 percent compared with $1.43 billion for the first half of 2005. However, traffic control rental results were softer, leading United to revise its earnings per share estimate from the $2.17-to-$2.27 range to the $2.15-to-$2.25 range, forecasting “continued strong performance in our core business partially offset by a softer outlook for traffic control.”

Baton Rouge, La.-based H&E Equipment Services announced that total second-quarter revenues increased $64.8 million to $202.5 million from $137.7 million in the second quarter of 2005. The company is increasing its 2006 revenue outlook from its previously announced range of $710 million to $740 million to approximately $750 million to $780 million.

Finning International, Edmonton, Alberta, reported 2006 second-quarter revenue of CA $1.3 billion, an increase of 2.2 percent over the second quarter of 2005. Second-quarter net income was $56.6 million or 63 cents per share, an increase of 21.2 percent in earnings per share compared with the second quarter of 2005. All figures are presented in Canadian dollars. The current exchange rate at press time is $1 CA = $.89173 U.S.

Las Vegas-based Ahern Rentals posted a 25.6-percent revenue increase in the second quarter ended June 30, with total volume rising from $50.4 million in Q205 to $63.3 million for the same period in 2006, according to documents filed with the Securities and Exchange Commission. Ahern's rental volume increase was an even more robust 31.5 percent, rising from $42.8 million in last year's second quarter to $56.3 percent this year.

The company opened a branch in Romoland, Calif., during the second quarter.

TAGS: Ar Mag
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