- Grew rental revenue 27% over the first quarter 2011.
- Increased rental volume 19.2% year-over-year.
- Improved rental rates 8.2% over the first quarter of last year and 0.5% over the fourth quarter of 2011.
- Generated a 61% increase in year-over-year Adjusted EBITDA.
- Increased average fleet utilization to 67%, up 320 bps from the first quarter 2011.
- Invested $145 million in gross rental capital expenditures in response to growing demand.
- Sold $102 million of existing fleet at original cost with record margins of 42%.
- Strong availability of $568 million under the ABL revolver as of March 31, 2012.
RSC Holdings Inc. (NYSE: RRR), one of the largest equipment rental providers in North America, today announced financial results for the quarter ended March 31, 2012. Total revenue was $408 million and rental revenue was $346 million, compared with $327 million and $272 million, respectively, for the same period last year. The company’s first quarter net income was $11 million, or $0.10 per diluted share, compared with a net loss of $50 million, or $0.49 per diluted share, for the first quarter 2011. Adjusted EBITDA was $159 million for the quarter, compared with $99 million for the same period last year. Adjusted EBITDA margin was 39.0% for the first quarter, compared with 30.2% in 2011. The increase in profitability and margins primarily reflects continued volume growth, pricing growth and the company’s ability to leverage and control its operating costs. First Quarter 2012 Highlights