Total Revenue

Down 13.9% (from $371.4M in Q1 2024 to $319.5M in Q1 2025)

Total Revenue dropped by $51.9M mainly reflecting weak performance in the rental and equipment sales segments; declining equipment rental revenue (down 7.2%) and a sharp reduction in sales of rental equipment (down nearly 50%) contributed to this downturn, contrasting with the higher revenue trends seen in Q1 2024. " "

Equipment Rentals

Down 7.2% (from $295.3M in Q1 2024 to $274.0M in Q1 2025)

The decrease can be attributed to lower utilization and rental rates across various equipment categories, a trend compounded by operational challenges such as workforce turnover following the merger; this is notable when compared with the previous period's higher rental performance. " "

Sales of Rental Equipment

Down nearly 50% (from $48.1M in Q1 2024 to $23.9M in Q1 2025)

The dramatic drop is primarily driven by the company’s fleet management strategy aimed at optimizing fleet utilization and profitability, which resulted in significantly fewer rental equipment sales compared to Q1 2024. " "

Sales of New Equipment

Down approximately 29% (from $10.4M in Q1 2024 to $7.4M in Q1 2025)

The decline in sales of new equipment suggests a pullback in selling activity compared to Q1 2024, possibly due to market conditions or a shift in focus from new sales towards optimizing the existing fleet mix, contrasting with the prior period that had relatively stronger new equipment sales. " "

Net Income

Swung from a positive $25.889M in Q1 2024 to a loss of $6.208M in Q1 2025

The swing to a loss indicates that the operational challenges and lower revenue significantly impacted profitability. Despite a robust Q1 2024 performance, the combination of lower rental revenues, reduced equipment sales, and possibly higher operating costs or merger-related expenses contributed to the net loss observed in Q1 2025. " "

Cash Position

Increased about 14% (from $9.076M in Q1 2024 to $10.322M in Q1 2025)

An increase in cash position suggests improved liquidity management possibly supported by better working capital practices or strategic adjustments, which contrasts favorably with the previous period despite revenue and profit headwinds. " "

Debt Exposure

Decreased approximately 55% (from $254.637M in Q1 2024 to $114.473M in Q1 2025)

The significant deleveraging, marked by a reduction of over half in the senior secured credit facility, indicates effective debt repayment or restructuring efforts, positioning the company on a less leveraged footing compared to Q1 2024. " "