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Sep 30, 2022
United Rentals Q3 2022 Earnings Report
Announced record third quarter results and raised 2022 guidance for revenue, adjusted EBITDA and capital spending.
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%.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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