With hurricane recoveries, Sunbelt Rentals revenue climbs 17% in six months

Fueled in large part by hurricane recoveries, Sunbelt Rental’s total revenue grew by 17 percent to $2.08 billion – including an 18-percent rise in rental-only revenue, in the first half of its fiscal year ending October 31.

That’s according to UK-based parent company Ashstead Group, which reported both second quarter and first half results on December 12.

In London, Ashstead’s chief executive, Geoff Drabble, says a strong second quarter showed good underlying performance, “supplemented by clean-up efforts following hurricanes Harvey, Irma and Maria.”

The company says Sunbelt Rentals’ revenue growth in the United States continues to benefit from both cyclical and structural trends.

“Sunbelt US’s revenue growth demonstrates the successful execution of our long-term structural growth strategy,” says Drabble, referring in part to 32 new stores opened in the first half.

“We continue to capitalize on the opportunity presented by our markets through a combination of organic growth, same-store growth and greenfields, and bolt-ons as we expand our geographic footprint and our specialty businesses,” he says.