United Rentals Q3 2022 Earnings Report
Key Takeaways
United Rentals announced strong third quarter results driven by sustained demand in end-markets and strength of core rental results. They raised full year guidance for total revenue, adjusted EBITDA, and gross and net rental capital spending and announced a new $1.25 billion share repurchase program.
Total revenue of $3.051 billion, including rental revenue of $2.732 billion.
Fleet productivity increased 8.9% year-over-year.
Net income of $606 million, at a margin of 19.9%. GAAP diluted earnings per share of $8.66, and adjusted EPS of $9.27.
Adjusted EBITDA of $1.521 billion, at a margin of 49.9%.
United Rentals
United Rentals
United Rentals Revenue by Segment
Forward Guidance
The company updated its 2022 outlook for total revenue to $11.5 billion to $11.7 billion, adjusted EBITDA to $5.5 billion to $5.6 billion and net rental capital expenditures after gross purchases to $2.25 billion to $2.45 billion, after gross purchases of $3.25 billion to $3.45 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income