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Profit fell due to weaker specialty rental margins, lower used equipment sales and higher expenses, including those related to the terminated H&E Equipment Services acquisition.

United Rentals Inc. could benefit from the unpredictability over tariffs as customers become weary of ownership.

Herc Rentals is set to merge with fellow construction equipment supplier H&E Equipment Services after outbidding the largest player in the field, United Rentals, the company said Feb. 18.

United Rentals abandoned its plan to acquire H&E Equipment Services, declining to increase its original offer of $3.4 billion for the rival construction equipment supplier.

The Stamford, Conn.-based company posted a 1.5% increase in Q4 net income to $689 million from $679 million. Revenue increased nearly 10%.

United Rentals Inc. agreed to buy H&E Equipment Services Inc. for $3.4 billion in cash, gaining a fleet of equipment to serve construction and industrial markets.

United Rentals Inc. set a quarterly revenue record in Q3 on surging demand in its specialty rentals segment, but the company faced margin pressure on bottom-line results.

United Rentals reported net profit of $679 million in the fourth quarter of 2023, a 6.3% year-over-year increase compared with $639 million in the year-ago period.

United Rentals Inc. reported net income of $591 million in the second quarter of 2023, an increase of 19.9% from $493 million in the year-ago period, the company said.

United Rentals executives foresee a rosy outlook for the business and sector as a result of increased infrastructure spending in the coming months and years after posting increased year-over-year profits in the first three months of 2023, they said April 27.