Ahern revenues up as prices fall

By Patrick Hill19 November 2008

Third quarter revenues at Ahern Rentals increased 13% to $89.0 million despite a 5% fall in rental prices compared to the same period in 2007.

The Las Vegas-based company said same branch revenues rose 12%, or $9.1 million during the period, and that three branches opened since the third quarter 2007 generated the remaining $1.5 million increase. Revenues rose also because of fleet growth from $650 million in 2007 to $815 million in 2008.

Average dollar utilisation fell to 44% in 2008 from 48% in 2007, while average time utilisation for high reach equipment - which generated approximately 67% of rental revenues - was 70%, down from 72% in 2007.

Revenues in the first nine months of 2008 increased $39.5 million, 19% over the $212.0 million in 2007, to $251.4 million. Same branch revenues increased 18%, or $37.6 million. Other revenue growth was from the three new branches and growth in fleet size to $783 million from $613 million in 2007.

Average rental rates decreased 3% over the nine months, and average dollar utilisation fell to 43% from 46%. Average time utilisation of high reach equipment decreased to 69% during the first nine months in 2008 from 70% in the same period in 2007.

Latest News
Link-Belt 100|RT aids Cooper Steel build
Cooper Steel of Shelbyville, TN is hard at work building a logistics facility with the use of their 100|RT.
Terex names new rough terrain leader
Giancarlo Montanari has been appointed to business line leader for Terex rough terrain cranes.
Hitachi to increase product and service offering in the Americas
Name change for Hitachi subsidiary following ending of Deere JV as the company looks to expand into the Americas