Average rental revenue declined 1.5 percent year over year in the fourth quarter of 2020, according to respondents to the Baird/RER equipment rental survey, a modest improvement compared to the third quarter when respondents declined 2 percent.
This was a modest improvement compared to the third quarter when respondents declined 2 percent compared to the third quarter of 2019.
Respondents expect a 0.3-percent year-over-year improvement in the first quarter compared to the first quarter of 2020, and are optimistic enough to forecast an overall 4.9-percent increase in 2021 compared to 2020.
Here are a few commentaries from rental people looking at the first quarter:
“Slow recovery … anticipate an upward trend in July and beyond,” said one.
“Markets are remaining relatively strong considering the negative impact of lockdowns and COVID,” said another.
“Jobsites seem to be slower to get started and seem to be progressing at a slower rate,” observed one industry participant.
“Commercial builders are much slower than residential right now,” said another.
See more from this survey at RERMag.com.
