RSC Holdings (RRR) Mentioned Positively In Barron's As Infrastructure Play
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Beaten-down equipment rental company RSC Holdings (NYSE: RRR) was highlighted positively in Barron's this weekend. The article contends that the company has the management savvy and financial wherewithal to weather these rough industry conditions.
The article notes that the company operates almost exclusively in commercial and industrial projects, versus residential housing, and should be well positioned to benefit from a revival of infrastructure spending due to Obama's economic stimulus package.
The company's CEO suggests they will benefit as construction companies will opt to use rented equipment versus buying their own as credit remains tight and they may be cautious about large capital investments.
RSC Holdings has been fairing better than rivals United Rentals (NYSE: URI) and Hertz Global (NYSE: HTZ). Last year, RSC Holdings sales were up while the others saw sales declines. RSC Holdings has also been using its strong free cash flow to pay down debt. Since the end of 2006, total debt dropped by $437 million, to $2.57 billion.
Link to Barron's Article ($)
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