United Rentals (URI) Tops Q1 EPS by 38c, Revenues Beat; Raises FY21 Revenue Guidance Above Consensus
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United Rentals Announces First Quarter 2021 Results and Raises 2021 Guidance Following Strong Start to Year
April 28, 2021 4:15 PM EDTSTAMFORD, Conn.--(BUSINESS WIRE)-- United Rentals, Inc. (NYSE: URI) today announced financial results for the first quarter of 2021 and raised its full-year 2021 guidance.
First Quarter 2021 Highlights
Total revenue of $2.057 billion, including rental revenue1 of $1.667 billion. Fleet productivity2 decreased 0.5% year-over-year; fleet productivity improved sequentially by 330 basis points, primarily due to better fleet absorption. Net income of $203 million, implying a net income margin3 of 9.9%. GAAP diluted earnings per share of $2.80, and adjusted EPS3 of $3.45. Adjusted EBITDA3 of $873 million, implying an adjusted EBITDA margin3 of... More