United Rentals (URI) Tops Q3 EPS by $1.12, Revenues Beat; Raises FY20 Revenue Outlook
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United Rentals Announces Third Quarter 2020 Results and Raises Full-Year Guidance
October 28, 2020 4:15 PM EDTSTAMFORD, Conn.--(BUSINESS WIRE)-- United Rentals, Inc. (NYSE: URI) today announced financial results for the third quarter of 2020 and raised its full-year 2020 guidance.
Third Quarter 2020 Highlights
Total revenue of $2.187 billion, including rental revenue1 of $1.861 billion. Fleet productivity2 decreased 8.0% year-over-year, reflecting the impact of COVID-19 on volumes; fleet productivity improved sequentially by 560 basis points, primarily due to better fleet absorption. Net income3 of $208 million, implying a net income margin3 of 9.5%. GAAP diluted earnings per share3 of $2.87, and adjusted EPS3 of $5.40. Adjusted EBITDA3 of $1.081... More