United Rentals, the world’s biggest equipment rental company, has reported a record fourth-quarter rental revenue of USD3.2 billion, a 13.5% increase year-on-year.

Total revenue for the quarter was USD3.7 billion, while full year sales amounted to USD14.3 billion. The company forecast 2024 revenue of USD14.7 billion to USD15.2 billion.

“Our fourth quarter results capped a year of new records across revenue, profits, and returns driven by a relentless commitment to serving our customers, while staying laser focused on safety and operational excellence,” says United Rentals chief executive officer Matthew Flannery.

“We are now excited to deliver on the growth we expect in 2024, supported by our strength on large projects. 

“Our guidance reflects the opportunities we see across our business as we leverage our competitive advantages to support our customers and outpace the market.”

United Rentals says the increase in revenue reflected the broad-based strength of demand across the company's end-markets and the impact of the Ahern Rentals acquisition.