United Rentals (URI) Tops Q4 EPS by 85c, Revenues Beat; Offers FY21 Revenue Guidance Above Consensus
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United Rentals Announces Fourth Quarter 2020 Results
January 27, 2021 4:15 PM ESTIntroduces 2021 Outlook Reflecting a Return to Growth
STAMFORD, Conn.--(BUSINESS WIRE)-- United Rentals, Inc. (NYSE: URI) today announced financial results for the fourth quarter 2020 and reported its full year results on Form 10-K1.
Fourth Quarter 2020 Highlights
Total revenue of $2.279 billion, including rental revenue2 of $1.854 billion. Fleet productivity3 decreased 3.8% year-over-year, mainly due to lower rental volumes; fleet productivity improved 420 basis points sequentially, primarily due to better fleet absorption. Net income of $297 million, implying a net income margin4 of 13.0%. GAAP diluted... More