Sunbelt Rentals U.S. saw 2019 fiscal year revenues of $4.988 million, increasing 20 percent from the previous year. In addition to rental revenue, the amount includes new and used equipment sales along with sales of merchandize and consumables.
Sunbelt Rentals’ parent Ashtead Group posted an 18-percent increase in rental revenue for its fiscal year ending April 30th.
“We continue to experience strong end markets in North America and are executing well on our strategy of organic growth supplemented by targeted bolt-on acquisitions,” says Brendan Horgan, Ashtead chief executive. The company says it invested $1.2 billion in capital and $489.9 million on bolt-on acquisitions during the year, adding 146 locations throughout the group’s international footprint.
“Our business continues to perform well in supportive end markets,” continues Horgan. “Looking forward we anticipate a similar level of capital expenditure in 2019/20, consistent with our strategic plan.”
The U.S. operations saw rental-only revenue grow to $3.7 billion, compared to $3.09 billion from the year before. The company says it added 123 U.S. new stores during the fiscal year. Sunbelt Canada operations rose from $223 million to $344 million Canadian.