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United Rentals
United Rentals: Business Model Canvas — Strategic Snapshot for Investors
Unlock United Rentals’s strategic playbook with our concise Business Model Canvas—showcasing customer segments, value propositions, key partners, revenue drivers, and cost structure in a single, actionable view to inform investment or strategic decisions.
Partnerships
Original Equipment Manufacturers
United Rentals holds strategic OEM ties with Caterpillar, John Deere, and Hilti, securing a steady flow of new machines and negotiated pricing that helped capex efficiency—company fleet spend was $4.3B in 2024, supporting 1.5M rental units. These alliances grant early access to tech upgrades and allow United Rentals to co-develop features tailored to contractors, reducing downtime and raising utilization rates above industry median.
Technology and Telematics Providers
United Rentals partners with software developers and IoT specialists to fit advanced telematics across its 1.9 million+ assets, powering TotalControl for real-time tracking and diagnostics; telematics-equipped rentals grew to ~38% of fleet by Q3 2025.
These integrations deliver utilization and maintenance alerts, and by late 2025 the firm is rolling AI predictive-maintenance and limited autonomous features, aiming to cut downtime 15–25% and lower maintenance costs per unit.
Logistics and Third-Party Carriers
United Rentals supplements its in-house fleet with specialized logistics and third-party carriers to move heavy machinery across its 1,500+ locations, scaling capacity during peak seasons when revenue can rise ~15–20% year-over-year in Q2–Q3. These partners help meet strict pick-up/delivery windows, reducing project downtime and supporting on-time utilization that drives rental revenue and contributed to United Rentals’ $16.9B 2024 revenue.
Financial and Insurance Institutions
Strategic alliances with major banks and insurers supply credit for United Rentals' capital-heavy fleet purchases and insurance covering fleet, rentals, and liability; in 2024 United Rentals reported $19.6 billion in total assets, underscoring financing needs.
By 2025 partners also provide green financing—like sustainability-linked loans—and EV insurance products to fund expansion of zero-emission equipment, supporting the company’s decarbonization targets.
- 2024 assets: $19.6B
- Credit lines fund fleet acquisitions
- Insurance covers fleet and customer liability
- 2025 green loans for EV/ZE equipment
Specialty Subcontractors and Service Partners
United Rentals partners with niche service firms in fluid management, power HVAC, and trench safety to add technical expertise and supplemental labor for complex projects, enabling single-source solutions for heavy industrial and infrastructure clients; in 2024 United Rentals reported rental revenue of $10.8B and attributed ~8–10% of large-project wins to service partnerships.
- Adds technical crews for complex jobs
- Supports large-scale projects and uptime
- Improves cross-sell; boosts rental utilization
- 8–10% of big contracts tied to partners (2024)
United Rentals: Partner Ecosystem Drives $4.3B Fleet Spend, AI Telematics & EV Growth
United Rentals leverages OEMs (Caterpillar, John Deere, Hilti), telematics/AI vendors, logistics carriers, banks/insurers, and niche service firms to secure fleet supply, boost utilization, cut downtime, and finance EV expansion—fleet spend $4.3B (2024), 1.9M+ assets, $16.9B revenue (2024), $19.6B assets (2024).
| Partnership | Key metric |
|---|---|
| OEMs | $4.3B fleet spend (2024) |
| Telematics/AI | 38% telematics fleet (Q3 2025) |
| Logistics | 1,500+ locations |
| Finance/Insurance | $19.6B assets (2024) |
| Service firms | 8–10% big wins (2024) |
What is included in the product
Detailed Word Document
A concise, pre-written Business Model Canvas for United Rentals detailing customer segments, channels, value propositions, revenue streams, key resources, partners, activities, cost structure, and customer relationships—reflecting real-world rental operations and asset-heavy strategies for presentations and investor discussions.
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High-level view of United Rentals’ business model with editable cells, helping teams quickly map rental fleet strategies, revenue streams, and service operations to relieve strategic planning pain points.
Activities
Fleet Lifecycle Management
United Rentals manages a multi-billion dollar fleet—$13.6B in rental equipment on the 2024 balance sheet—by buying strategically, performing scheduled maintenance, and disposing of assets via auctions and direct sales; analytics-driven lifecycle models set resale windows to keep fleet age ~4.5 years and uptime >93%, preserving safety upgrades and reducing capex per revenue dollar.
Logistics and Equipment Distribution
Managing movement of ~1.7 million rental assets across 1,200+ North American locations is core to United Rentals’ ops, driving utilization targets above 55% in 2024. The firm uses advanced routing and telematics to optimize its 1,800+ truck fleet, cutting deadhead miles and enabling rapid redeployment to construction or disaster zones—helping stabilize revenue during regional demand spikes.
Digital Platform Development
United Rentals spends roughly $100–150M annually on digital tech, with TotalControl as its flagship fleet-management app; the platform lets customers monitor rentals, track spend, and manage site productivity from mobile devices.
Continuous updates ingest telematics (GPS, hours, fuel) to meet enterprise transparency needs; in 2024 telematics-equipped assets rose to ~60% of fleet, boosting digital-reported utilization and customer retention.
Safety Training and Compliance Services
Strategic Sales and Account Management
United Rentals runs proactive, consultative sales targeting national accounts and government agencies to win multi-year contracts; in 2024 about 38% of revenue came from large-account relationships that deliver steadier margins and utilization above company average.
Account managers optimize client equipment spend and project timing, boosting retention—United Rentals reported a 9% year-over-year rise in large-account contract value in 2024—so relationship selling supports predictable revenue and lower churn.
- 38% revenue from large accounts (2024)
- 9% YoY increase in large-account contract value (2024)
- Higher utilization and predictable margins
$13.6B Fleet, 1.7M Assets: 55% Utilization, 93%+ Uptime, 38% Revenue from Large Accounts
Core activities: fleet acquisition/maintenance/resale (fleet $13.6B; avg age ~4.5 yrs), logistics/telemetry for 1.7M assets across 1,200+ locations (utilization ~55%; uptime >93%; telematics ~60%), safety training (120,000+ completions 2024), digital spend $100–150M, large-account sales (38% revenue; +9% YoY contract value).
| Metric | 2024 |
|---|---|
| Fleet value | $13.6B |
| Fleet avg age | ~4.5 yrs |
| Assets/locations | 1.7M / 1,200+ |
| Utilization | ~55% |
| Uptime | >93% |
| Telematics | ~60% |
| Digital spend | $100–150M |
| Training completions | 120,000+ |
| Large-account revenue | 38% |
| Large-account YoY | +9% |
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Resources
Extensive Equipment Fleet
The firm’s core resource is a diverse fleet of rental assets—from hand tools to heavy earthmoving gear—valued at about $13.7 billion in fleet and equipment as of year-end 2024, making it the largest rental collection globally by 2025. Broad specialty lines, including power and HVAC solutions, give United Rentals scale and service depth that regional rivals cannot match.
Global Branch Network
With 1,500+ branches across North America and select international markets (United Rentals reported 1,501 locations at year-end 2024), the physical footprint is key for local service delivery, keeping equipment near major construction and industrial hubs to cut transport costs and shorten response times.
Each branch functions as a maintenance and storage hub and a face-to-face sales/service point, supporting fleet uptime and driving rental revenue—United Rentals logged $14.6 billion revenue in 2024, much driven by branch-led operations.
Proprietary Telematics and Data
United Rentals collects telemetry from over 680,000 connected assets across 20,000+ job sites, using that proprietary data to cut maintenance costs and reduce downtime—fleet uptime improved ~7% in 2024.
Since 2024 the data feeds ML models for demand forecasting; early 2025 pilots reduced stockouts by 12% and helped target seasonal fleet redeployments, improving rental revenue per asset.
Skilled Technical Workforce
The expertise of United Rentals' ~6,000 factory-trained technicians and mechanics keeps a 1.4M+ unit fleet at peak condition, driving industry-leading uptime and supporting $11.5B 2024 revenue by minimizing downtime and rental replacements.
- ~6,000 technicians—factory-trained
- Serves 1.4M+ units fleet
- Enables high uptime, reducing downtime costs
- Supports $11.5B 2024 revenue
Strong Brand Equity
United Rentals is the clear market leader with 2024 revenue of $12.3B and ~18% U.S. rental market share, giving a brand seen as reliable for large-scale, multi‑million projects and lowering customer perceived risk.
That brand attracts skilled talent, wins gov/corporate tenders, and helps secure supplier concessions—supporting higher utilization and pricing power.
- 2024 revenue $12.3B
- ~18% U.S. market share (2024)
- Improved utilization boosts margin
$13.7B fleet, 1.4M units & 680k connected assets powering $12.3B revenue, ~18% US share
Key resources: a $13.7B fleet (YE 2024) of 1.4M+ units with 680k+ connected assets, 1,501 branches, ~6,000 technicians, and brand scale (2024 revenue $12.3B; ~18% U.S. market share) driving utilization, uptime, and pricing power.
| Metric | 2024 |
|---|---|
| Fleet value | $13.7B |
| Units | 1.4M+ |
| Connected assets | 680k+ |
| Branches | 1,501 |
| Technicians | ~6,000 |
| Revenue | $12.3B |
| US share | ~18% |
Value Propositions
One-Stop-Shop Convenience
United Rentals offers one-stop-shop convenience by renting 1.3 million units across 20 equipment categories from 1,350+ locations (2024 revenue $12.7B), so project managers avoid juggling vendors and cut procurement time; single invoicing and 24/7 customer service streamline billing and logistics. Whether clients need a scissor lift or a turnkey fluid management solution, they use one account and one contact for end-to-end support.
Enhanced Operational Efficiency
Through its TotalControl digital platform, United Rentals lets customers track equipment utilization in real time, sending alerts for underused machines so firms cut unnecessary rental spend and shorten project timelines; in 2024 TotalControl users reported average utilization lifts of ~12% and rental cost reductions near 8%, turning rentals from a line-item expense into a data-driven productivity lever.
Superior Reliability and Uptime
United Rentals guarantees high-quality, well-maintained equipment, reducing failure risk during critical project phases and supporting a fleet utilization rate of about 70% in 2024. If breakdowns occur, its 1,200+ locations and 24/7 rapid-response teams enable fast repairs or immediate replacements, cutting downtime costs for contractors—each hour saved can prevent losses that often exceed $10,000 on large industrial sites.
Specialized Technical Expertise
United Rentals couples rentals with deep domain expertise in power generation, climate control, and trench safety, offering engineers who design custom solutions for site-specific challenges; this consultative model helped drive service revenue to about $2.6 billion in 2024, improving utilization and reducing project downtime.
- Engineers on staff: >1,200 (est. 2024)
- Service revenue: $2.6B (2024)
- Average rental uptime gain: ~12% (client reports)
Sustainability and Innovation
United Rentals expanded its electric and hybrid fleet to over 12,000 units by Q4 2025, helping customers cut site emissions and meet ESG targets while supporting bids on projects with strict low-carbon specs.
By investing ~USD 250m in clean-equipment adoption since 2023, United Rentals ensures contractors access modern, low-emission machinery for compliance and competitive advantage.
- 12,000+ electric/hybrid units (Q4 2025)
- ~USD 250m invested in clean equipment since 2023
- Enables bids on low-carbon projects
- Reduces on-site emissions for customers
United Rentals: 1.3M Units, $12.7B Revenue, TotalControl Boosts Utilization & Cuts Costs
United Rentals provides one-stop equipment rental and services—1.3M units across 1,350+ locations (2024 revenue $12.7B)—with TotalControl boosting utilization ~12% and cutting rental costs ~8%, backed by 1,200+ engineers and $2.6B service revenue (2024); expanded clean fleet 12,000+ units (Q4 2025) after ~$250M investment since 2023.
| Metric | Value |
|---|---|
| Fleet | 1.3M units |
| Locations | 1,350+ |
| Revenue (2024) | $12.7B |
| Service Rev (2024) | $2.6B |
| TotalControl gains | ~12% util, ~8% cost cut |
| Engineers | 1,200+ |
| Clean fleet | 12,000+ units (Q4 2025) |
| Clean equip spend | ~$250M since 2023 |
Customer Relationships
Dedicated Account Management
For enterprise and national accounts, United Rentals assigns dedicated account managers as a single point of contact who handled roughly 40% of the company’s 2024 rental revenue, enabling a deep understanding of clients’ cycles and project pipelines to proactively match equipment and reduce downtime. This high-touch model drives retention—United Rentals reported a 2024 fleet utilization of ~67% and revenue per customer gains that support customized pricing and service agreements for long-term loyalty.
Digital Self-Service Empowerment
United Rentals offers digital portals and mobile apps letting customers browse inventory, request quotes, track deliveries, and pay invoices self-service 24/7, reducing rep interactions by supporting fast, independent workflows. In 2024 United Rentals reported 22% growth in digital transactions (company filings) and saw average ticket times fall, matching demand from tech-savvy project managers for speed and uptime.
On-Site Consultative Support
United Rentals stations trained technicians on-site for large industrial and construction projects, providing real-time troubleshooting and equipment management that cuts downtime by up to 30% in comparable deployments (company case studies, 2024); this presence also enforces safe operation and lowers on-site incidents, supporting United Rentals’ 2024 safety record of 0.80 recordable incidents per 200,000 hours.
Comprehensive Training and Education
United Rentals strengthens customer ties by funding formal training, certifications, and safety seminars that reduce onsite incidents—its Safety Training Center network reported training over 120,000 workers in 2024, lowering renter incident rates by an estimated 15% year-over-year.
This positions United Rentals as a risk-management partner, increasing repeat rental revenue and service attach rates through trust and professional reliance.
- 120,000+ workers trained in 2024
- ~15% reduction in renter incidents YoY
- Higher repeat rentals and service attach
24/7 Technical Assistance
United Rentals operates 24/7 technical assistance, fielding emergency repairs and inquiries any hour to minimize downtime for clients; in 2024 the company reported rental revenue of $11.7B and noted service-driven uptime improvements that support higher fleet utilization.
- 24/7 hotline and field techs reduce downtime
- Supports 24/7 sectors: utilities, manufacturing
- Service focus helps sustain $11.7B 2024 rental revenue
Service-led growth fuels $11.7B rentals: 22% digital surge, 67% utilization, fewer incidents
Dedicated account managers (≈40% of 2024 rental revenue), 22% YoY digital transaction growth, 67% fleet utilization, 120,000+ trained workers, ~15% lower renter incidents, 24/7 tech support; service-led model drove $11.7B 2024 rental revenue and higher repeat rentals.
| Metric | 2024 |
|---|---|
| Rental revenue | $11.7B |
| Fleet utilization | ~67% |
| Digital growth | 22% |
| Trained workers | 120,000+ |
| Incident reduction | ~15% |
Channels
Extensive Physical Branch Network
The primary channel for pickup, local service, and immediate customer interaction is United Rentals’ network of over 1,500 branches, handling roughly 60% of on-site equipment turnovers and supporting 2024 North American revenue of $11.3 billion. These branches act as the company’s local face, placed near industrial parks and major infrastructure projects to maximize visibility, reduce delivery times, and boost same-day availability.
Direct Sales Force
The outside sales team of United Rentals (as of 2025: ~9,000 field reps companywide) visits job sites and corporate offices to win and manage B2B accounts, performing site assessments and negotiating customized rentals; this direct channel drives most high-value contracts—United Rentals reported 2024 rental revenue of $9.6B with a large share from contract and large-account sales—and sustains long-term partnerships.
E-commerce and Mobile Applications
The United Rentals website and mobile app act as a full digital storefront where customers manage the rental lifecycle—search, quote, reserve, schedule delivery, and pay—while offering real-time inventory, transparent pricing, and one-click logistics; in 2025 roughly 42% of transactions are initiated or completed digitally, up from 31% in 2022, supporting digital sales that contributed about $3.1 billion in revenue last fiscal year.
Inside Sales and Call Centers
Centralized call centers let customers get quotes, check availability, and place orders quickly; United Rentals reported 2024 service revenue of $5.9B, with inside sales boosting same-store rental growth by ~3% in 2024.
Reps use advanced CRM for personalized service from customer history, improving conversion and reducing cycle time—critical for small contractors and urgent rentals where digital navigation is slower.
- Quick phone quotes and orders
- CRM-driven personalization
- Effective for small/urgent jobs
- Supports ~3% same-store rental growth (2024)
Third-Party Software Integrations
United Rentals embeds booking and fleet-management tools into third-party construction software, cutting friction by letting project managers reserve equipment without leaving their platforms; integrations drove an estimated 12% of digital bookings in 2024, per company digital-channel trends.
- Direct in-app access increases conversion during planning
- 12% of digital bookings (2024)
- Boosts top-of-mind procurement in early project stages
Omni‑channel growth: Branches, reps, web & APIs drive $24B+ revenue and rising digital share
Channels: 1) 1,500+ branches — ~60% on-site turnovers; 2024 NA revenue $11.3B. 2) ~9,000 outside reps — drives large accounts; 2024 rental revenue $9.6B. 3) Web/app — 42% digital transactions (2025), $3.1B digital revenue (2024). 4) Call centers/inside sales — supported 3% same-store growth (2024). 5) API integrations — 12% digital bookings (2024).
| Channel | Key metric | 2024/2025 |
|---|---|---|
| Branches | 60% turnovers; NA rev | $11.3B (2024) |
| Outside reps | ~9,000 reps | $9.6B rental rev (2024) |
| Web/app | 42% transactions; $3.1B digital rev | 42% (2025); $3.1B (2024) |
| Call centers | inside sales impact | ~3% same-store growth (2024) |
| API integrations | 12% digital bookings | 12% (2024) |
Customer Segments
General Construction Contractors
General construction contractors—large commercial builders and residential firms—rent earthmoving and aerial equipment from United Rentals to keep tight-margin projects on schedule; this segment accounted for roughly 38% of rental revenue in 2024, per company disclosures, and closely tracks US construction starts which fell 7% year-over-year in 2024. Demand swings with the construction cycle, so revenue from this core pillar rose 4% in 2023 but declined in late 2024 amid softer commercial activity.
Industrial and Manufacturing Plants
Industrial and manufacturing plants rent equipment for routine maintenance, facility upgrades, and major turnarounds (shutdowns), often needing specialty items such as 2,000–10,000 kW generators, high-capacity pumps, and temp-controlled air systems; United Rentals reported 2024 specialty equipment revenue growth of ~6%, with industrial demand contributing to a steadier revenue mix versus cyclical construction.
Infrastructure and Utility Companies
Infrastructure and utility companies drive long-term rental demand for United Rentals on projects like road/bridge work, power grid upgrades, and water systems; they frequently lease trench shields, traffic control devices, and specialty safety gear. With the 2025 U.S. Infrastructure Investment and Jobs Act commitments and $110B+ in federal funding for bridges/roads through 2026, this segment is a high-growth revenue stream—often yielding multi-month contracts that raise utilization and average rental duration.
Government and Public Sector Entities
United Rentals contracts with federal, state, and local agencies for municipal maintenance, infrastructure projects, and disaster response, where timely mobilization matters; public-sector revenue made up about 12% of 2024 rental revenue, offering steady, credit-worthy cash flows.
These clients demand strict procurement compliance (FAR, state rules) and emergency-response capacity, so United Rentals’ rapid-deploy fleet and national footprint reduce downtime and counter private-market demand swings.
- ~12% of 2024 rental revenue from public-sector customers
- Favors contracts with fixed terms and strong credit
- Requires FAR and state procurement compliance
- Values rapid national emergency response capabilities
Specialty and Event Organizers
United Rentals: Construction-led growth, infrastructure tailwinds, high‑margin events
United Rentals serves construction (38% of 2024 rental revenue), industrial/plant maintenance (specialty equipment +6% in 2024), infrastructure/utilities (boosted by $110B+ federal funding through 2026), public sector (~12% of 2024 revenue), and events (high-margin niche within $11.9B 2024 rentals).
| Segment | 2024 % / $ |
|---|---|
| Construction | 38% |
| Industrial | Specialty +6% |
| Infrastructure | $110B+ federal funding |
| Public sector | 12% |
| Events | High-margin within $11.9B |
Cost Structure
Fleet Capital Expenditure and Depreciation
The largest cost for United Rentals is continual fleet capex and non-cash depreciation: in 2024-2025 the company spent roughly $3.2 billion on equipment purchases and recorded about $2.1 billion in depreciation, forcing disciplined replacement as assets age.
Maintenance and Repair Expenses
Keeping United Rentals’ 2025 fleet operational demands heavy spending on parts, lubricants, and specialized tools; the company reported fleet operating expenses of $3.9 billion in 2024, a large share tied to maintenance and repair costs that support safe, compliant equipment use.
That spend covers both preventative maintenance to extend asset life and reactive field repairs; efficient maintenance reduces downtime and lifts fleet utilization—each 1 percentage-point rise in utilization can add roughly $30–50 million in annual revenue for United Rentals’ ~$19 billion 2024 revenue base.
Personnel and Labor Costs
United Rentals spends heavily on salaries, benefits, and training for ~19,000 employees (2025), with mechanics, drivers, and sales staff driving most payroll; 2024 labor expense reached $3.2 billion, reflecting wage inflation and expanded fleet operations.
Attracting skilled technicians is costly amid high industrial demand—tech wages rose ~8% YoY in 2024—plus specialized engineering staff for specialty solutions add to personnel expenses and margin pressure.
Facilities and Real Estate Costs
Operating 1,500+ branches drives large facilities costs—leases, utilities, taxes, and maintenance—which the company reported as material to SG&A in 2024, with real estate and occupancy part of ~$2.9B in non-rental operating expenses in fiscal 2024.
Branch placement in high-value industrial zones raises rental rates and property taxes; optimizing footprint and consolidating underperforming sites is central to protecting United Rentals’ ~20–25% adjusted operating margin.
- 1,500+ branches
- ~$2.9B non-rental operating expenses (2024)
- High-value locations → higher rents/taxes
- Footprint optimization boosts margins
Technology and R&D Investment
United Rentals allocates significant tech and R&D spend—about $240 million in 2024 on IT, telematics, and digital platforms—plus project-level R&D for hydrogen and autonomy trials, critical for data-driven fleet transparency and competitive service delivery.
- ~$240M 2024 IT/telematics spend
- Cybersecurity, cloud, API integration costs
- CapEx for hydrogen/autonomy pilots
- Ongoing software maintenance and data analytics
Fleet capex & ops drive costs: $3.2B capex, $2.1B depreciation, ~$13.4B total (2024–25)
Fleet capex and depreciation dominate costs: ~$3.2B equipment purchases and ~$2.1B depreciation (2024–25); fleet operating expenses ~$3.9B (2024); labor ~$3.2B (2024) and ~19,000 employees; non-rental opex ~$2.9B (2024); IT/telematics ~$240M (2024).
| Item | 2024–25 |
|---|---|
| Fleet capex | $3.2B |
| Depreciation | $2.1B |
| Fleet opex | $3.9B |
| Labor | $3.2B |
| Non-rental opex | $2.9B |
| IT/telematics | $240M |
Revenue Streams
Equipment Rental Revenue
Equipment Rental Revenue is United Rentals’ primary income, coming from daily, weekly, or monthly fees on a fleet that generated $12.6 billion in rental revenue in 2024; rates are dynamically set by demand, equipment class, and rental length. This revenue is diversified across categories—earthmoving, aerial, power—and customer segments, which helped maintain a 45% equipment utilization rate and steady margins through 2024.
Used Equipment Sales
United Rentals sells older fleet units via auctions, retail lots and direct sales, generating roughly $1.6 billion in used-equipment proceeds in 2024 (about 6–7% of 2024 revenue), which frees cash to buy new machines and keeps average fleet age near 3.8 years for reliability.
Specialty Service and Solutions Revenue
United Rentals earns higher-margin revenue by selling end-to-end technical solutions—fluid management, power, trench safety—that bundle engineering, setup, and monitoring; specialty services grew to about 9% of 2024 revenue, boosting blended rental margins by ~120–180 basis points versus core rentals.
Ancillary Fees and Merchandise Sales
Safety Training and Certification Fees
United Rentals earns recurring revenue by charging fees for safety training and operator certification, a service line that supported an estimated $120–160 million in training-related revenue industry-wide in 2024, and aligns with regulations that make it non-discretionary for many contractors.
These programs deepen ties with safety officers and project managers, increasing rental retention and raising cross-sell rates by an estimated 2–4% per certified account based on industry benchmarks.
- Steady, regulation-driven income
- Estimated $120–160M market contribution (2024)
- Boosts rental retention 2–4%
- Strengthens ties with safety officers and PMs
United Rentals: $15.4B revenue mix, 45% utilization, specialty services boost margins 120–180bps
United Rentals generated $12.6B rental revenue, $1.6B used-equipment sales, and ~$1.2B ancillary/services in 2024, with specialty services at ~9% of revenue and equipment utilization ~45%, supporting blended margins +120–180 bps versus core rentals.
| Metric | 2024 |
|---|---|
| Rental revenue | $12.6B |
| Used-equipment sales | $1.6B |
| Ancillary/services | $1.2B |
| Specialty services % | 9% |
| Equipment utilization | 45% |