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Posted March 24, 2015

Neff Announces Strong Year, Quarter 

Neff Corporation saw rental revenues increase 13% in the last quarter of 2014, with a full year-over-year increase of 15.3% in rental revenues, the company reported. 

Rental rate growth was 5.5% compared to 6.6% in the fourth quarter of 2013. Time utilization was 67.6% compared to 70.3% in the fourth quarter of 2013.

For the full year, rental rate growth was 6.6% and time utilization was 69.7%, dropping compared to last year's 70.9%

Graham Hood, Chief Executive Officer of Neff Corporation, commented, “2014 proved to be an exciting year for the Neff team that included our successful initial public offering (the "IPO") in November 2014. We built solid momentum throughout 2014 and expect positive trends to continue in 2015. We remain focused on executing our strategy and leveraging the growing demand from our customers as demonstrated by our results in the fourth quarter that included 13.0% rental revenue growth and a 350 basis point improvement in our adjusted EBITDA margin over last year."

Find the company's news release here. 

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