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Jun 30, 2020
United Rentals Q2 2020 Earnings Report
Announced second quarter results and reintroduced full-year guidance.
Key Takeaways
United Rentals announced its second quarter results with a total revenue of $1.939 billion and net income of $212 million. The company's performance reflects the flexibility and resiliency of its business model, with a steady recovery in volume beginning in mid-April.
Total revenue reached $1.939 billion, including rental revenue of $1.642 billion.
Net income was reported at $212 million, with a net income margin of 10.9% and GAAP diluted earnings per share of $2.93.
Adjusted EBITDA was $899 million, with an adjusted EBITDA margin of 46.4%, supported by aggressive cost management.
The company generated $817 million in net cash from operating activities and free cash flow, including gross rental capital spending of $145 million.
Revenue by Segment
Forward Guidance
The company has reintroduced full-year 2020 guidance with total revenue expected to be between $8.05 billion and $8.45 billion and adjusted EBITDA between $3.6 billion and $3.8 billion.
Positive Outlook
- Total revenue between $8.05 billion and $8.45 billion.
- Adjusted EBITDA between $3.6 billion and $3.8 billion.
- Net rental capital expenditures after gross purchases between $50 million and $150 million, after gross purchases of $800 million to $900 million.
- Net cash provided by operating activities between $2.25 billion and $2.55 billion.
- Free cash flow (excluding the impact of merger and restructuring related payments) between $2.0 billion and $2.2 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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