RSC ups fourth quarter forecast
17 January 2011
RSC Equipment Rental said its results for the final quarter of 2010 will be better than it forecast last October.
It said total revenues will be in the US$337-340 range compared to the previous estimate of $320-335 million, and EBITDA profits will be $114-117 million compared to $100-110 million.
RSC said the results benefited from a 19.6% year on year increase in volume and a 0.8% increase in pricing compared with the third quarter.
Erik Olsson, president and chief executive officer, said; "We saw a very strong finish to 2010, with solid execution coupled with increasing rental penetration producing results above our expectations."
Mr Olsson said the volume and price increases were driven by "our industrial focus and national account strategy in combination with our consistent investment in fleet, footprint, people and technology".
RSC will release its fourth quarter 2010 results after the close of trading on Tuesday, 8 February.
