United Rentals Q2 2022 Earnings Report
Key Takeaways
United Rentals announced record second quarter results with total revenue of $2.771 billion and net income of $493 million. The company raised its full-year guidance for total revenue, adjusted EBITDA, net cash provided by operating activities and free cash flow.
Total revenue of $2.771 billion, including rental revenue of $2.462 billion.
Fleet productivity increased 11.3% year-over-year.
Net income of $493 million, at a margin of 17.8%. GAAP diluted earnings per share of $6.90, and adjusted EPS of $7.86. GAAP and adjusted EPS both include $0.55 of one-time tax benefits.
Adjusted EBITDA of $1.311 billion, at a margin of 47.3%.
United Rentals
United Rentals
United Rentals Revenue by Segment
Forward Guidance
The company has updated its 2022 outlook for total revenue to $11.4 billion to $11.7 billion, adjusted EBITDA to $5.4 billion to $5.55 billion, and free cash flow to $1.85 billion to $2.05 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income