United Rentals reported a strong start to 2022 with record first quarter results, including total revenue, rental revenue, adjusted EBITDA, and EPS. The company's markets are trending up, driven by broad-based rental demand in construction and industrial verticals. Updated full-year guidance includes higher targets for total revenue, adjusted EBITDA, and free cash flow.
Total revenue reached $2.524 billion, with rental revenue of $2.175 billion.
Fleet productivity increased by 13.0% year-over-year.
Net income was $367 million, with a margin of 14.5%, and adjusted EPS was $5.73.
Adjusted EBITDA was $1.139 billion, with a margin of 45.1%.
The company has updated its 2022 outlook with higher targets for total revenue, adjusted EBITDA and free cash flow.
Visualization of income flow from segment revenue to net income
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