United Rentals (URI) Misses Q1 EPS by 6c, Revenue Beats; Reaffirms
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United Rentals Announces Record First Quarter Results and Reaffirms Its Full-Year 2023 Guidance
April 26, 2023 4:15 PM EDTSTAMFORD, Conn.--(BUSINESS WIRE)-- United Rentals, Inc. (NYSE: URI) today announced financial results for the first quarter of 2023 and reaffirmed its full-year 2023 guidance.
First Quarter 2023 Highlights
Total revenue of $3.285 billion, including rental revenue1 of $2.740 billion. Year-over-year, fleet productivity2 increased 2.0% as reported and 5.9% on a pro forma2 basis. Net income of $451 million, at a margin3 of 13.7%. GAAP diluted earnings per share of $6.47, and adjusted EPS4 of $7.95. Adjusted EBITDA4 of $1.503 billion, at a margin3 of 45.8%. Net cash provided by operating activities of $939 million; free cash flow4 of... More