Exhibit 99.1


ESSEX RENTAL CORP. REPORTS 2014 THIRD QUARTER RESULTS

Adjusted EBITDA improves sequentially and year over year by $800,000 to $5.3 million
  
BUFFALO GROVE, IL - November 4, 2014 -
Essex Rental Corp. (Nasdaq: ESSX) ("Essex") today announced its consolidated results for the three months ended September 30, 2014.
Third Quarter 2014 Highlights

Hydraulic crawler crane utilization increased to 79.6% for the three month period ended September 30, 2014 compared to 65.0% for the three month period ended June 30, 2014 and 70.9% for the three month period ended September 30, 2013. Hydraulic crawler cranes represent over 50% of total rental fleet orderly liquidation value and utilization for these assets is at its highest level in 6 years;
Crawler crane rental backlog based on expected rental revenues as of September 30, 2014 increased by 32.3% compared to the backlog as of September 30, 2013;
Rough terrain crane utilization equaled 65.9% for the three month period ended September 30, 2014, compared to 68.2% and 50.5% for the three month period ended June 30, 2014 and September 30, 2013, respectively. Rental revenue generated from rough terrain cranes in the quarter was at its highest level since late 2010;
City and other tower crane utilization increased to 52.7% for the three month period ended September 30, 2014 compared to 46.0% and 33.5% for the three month period ended June 30, 2014 and September 30, 2013, respectively. Rental revenue generated from tower cranes in the quarter was at its highest level since late 2010;
Equipment rental revenue increased by $1.1 million or 9.0% and $1.8 million or 15.6% to $13.6 million for the three month period ended September 30, 2014 compared to the three month periods ended June 30, 2014 and September 30, 2013, respectively;
Used rental equipment sales in the three month period ended September 30, 2014, which included six traditional crawler cranes, equaled $6.0 million and sold at 101.0% of orderly liquidation value; and
Adjusted EBITDA before non-cash compensation and non-recurring expenses equaled $5.3 million for the three month period ended September 30, 2014 compared to $4.5 million for each of the three month periods ended June 30, 2014 and September 30, 2013.


Nick Matthews, President and CEO of Essex stated, “As anticipated in the original guidance given for 2014, we’ve experienced sequential improvement in Adjusted EBITDA throughout the first three quarters of 2014 and are now experiencing year over year improvement. We have been successful in increasing demand for our rental offerings based on the effectiveness of our customer focused initiatives as well as an improved economic environment. Additionally, we have increased the pace of selling excess rental fleet, particularly our traditional crawler cranes.”

“We are continuing to experience utilization and rental revenue improvement from the hydraulic crawler, rough terrain and tower crane fleets, which make up over 70% of the orderly liquidation value of our rental fleet, and we believe that there remains significant potential to increase earnings and cash flow. The quality improvement initiatives and customer-centric service-oriented strategies that the Company has adopted over the last six months has resulted in a material increase in our asset utilization but has also resulted in higher costs to get previously unutilized equipment into rent ready condition and maximize equipment up time while on rent. While we are incurring higher upfront costs, management anticipates these rentals will display improved overall profitability over the duration of the lease term and will yield enhanced customer satisfaction. We remain focused on these initiatives along with maximizing utilization in our core asset classes and continuing to market and sell excess rental fleet to reshape our asset portfolio and improve our return on invested capital. We are still in the early stages of implementing these strategic initiatives and are encouraged by the progress we made during the third quarter.”

Third Quarter 2014 Overview

Equipment rentals segment revenues were $21.7 million for the three month period ended September 30, 2014 versus $14.4 million for the three month period ended September 30, 2013. Equipment rentals segment revenues include rental, transportation and used



The following information was filed by Essex Rental Corp. (ESSX) on Wednesday, November 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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