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Jun 30
United Rentals Q2 2025 Earnings Report
United Rentals reported strong Q2 2025 results with higher revenue and solid profitability while raising full-year guidance.
Key Takeaways
United Rentals delivered $3.94B in revenue and $622M in net income for Q2 2025, driven by growth in specialty rentals and improved fleet productivity. The company raised its full-year guidance and expanded its share repurchase plan by $400M.
Revenue reached $3.94B, with rental revenue at a record $3.415B
Net income was $622M with EPS of $9.59 and adjusted EPS of $10.47
Fleet productivity increased 3.3% year-over-year
Raised 2025 guidance and increased planned share repurchases to $1.9B
United Rentals
United Rentals
United Rentals Revenue by Segment
Revenue by Segment
General Rentals Revenue
CapyFin.comSpecialty Rentals Revenue
CapyFin.com Forward Guidance
United Rentals raised its 2025 guidance, reflecting stronger ancillary revenue growth and increased free cash flow expectations, while maintaining core rental results in line with prior outlook.
Positive Outlook
- Raised total revenue outlook to $15.8B-$16.1B
- Raised adjusted EBITDA outlook to $7.3B-$7.45B
- Increased free cash flow outlook to $2.4B-$2.6B
- Net cash from operations raised to $4.9B-$5.5B
- Planned share repurchases increased by $400M to $1.9B
Challenges Ahead
- Net income margin declined 110 basis points year-over-year
- Adjusted EBITDA margin decreased 100 basis points
- Used equipment sales decreased 13.2% year-over-year
- Rental gross margin declined due to inflation and cost variability
- Higher delivery and labor costs impacted specialty segment margins
Revenue & Expenses
Visualization of income flow from segment revenue to net income