NYSE$URI
United Rentals Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Announced second quarter results and reintroduced full-year guidance.
United Rentals announced its second quarter results with a total revenue of $1.939 billion and net income of $212 million. The company's performance reflects the flexibility and resiliency of its business model, with a steady recovery in volume beginning in mid-April.
- Total revenue reached $1.939 billion, including rental revenue of $1.642 billion.
- Net income was reported at $212 million, with a net income margin of 10.9% and GAAP diluted earnings per share of $2.93.
- Adjusted EBITDA was $899 million, with an adjusted EBITDA margin of 46.4%, supported by aggressive cost management.
- The company generated $817 million in net cash from operating activities and free cash flow, including gross rental capital spending of $145 million.
Headline financials
Revenue & EPS history
United Rentals · Revenue · Quarterly
$1.94B
Revenue by segment
United Rentals · $1.64B total across 2 segments · Q2 2020
- General Rentals$1.26B-17.8%76.4%
- Specialty Rentals$387M-10.6%23.6%
Forward guidance
The company has reintroduced full-year 2020 guidance with total revenue expected to be between $8.05 billion and $8.45 billion and adjusted EBITDA between $3.6 billion and $3.8 billion.
Tailwinds
- Total revenue between $8.05 billion and $8.45 billion.
- Adjusted EBITDA between $3.6 billion and $3.8 billion.
- Net rental capital expenditures after gross purchases between $50 million and $150 million, after gross purchases of $800 million to $900 million.
- Net cash provided by operating activities between $2.25 billion and $2.55 billion.
- Free cash flow (excluding the impact of merger and restructuring related payments) between $2.0 billion and $2.2 billion.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
+3.1%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+4.7%
Avg return
30 days after
70%
46 / 66 earnings
Positive
+25.8%
Q1 2026
Best reaction
-19.9%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +25.8% | +19.9% | +16.9% | |
| Q4 2025 | -7.9% | -12.2% | -7.0% | |
| Q3 2025 | -7.8% | -11.7% | -19.3% | |
| Q2 2025 | -1.4% | -2.1% | +1.8% | |
| Q1 2025 | +9.9% | +7.0% | +18.8% | |
| Q4 2024 | +2.1% | -0.6% | -15.3% | |
| Q3 2024 | -2.7% | -2.7% | +0.2% | |
| Q2 2024 | +1.4% | +0.1% | +0.1% | |
| Q1 2024 | +4.5% | +7.8% | +1.8% | |
| Q4 2023 | +12.7% | +12.1% | +13.9% | |
| Q3 2023 | -0.6% | +1.1% | +15.0% | |
| Q2 2023 | -2.0% | +3.2% | -0.2% | |
| Q1 2023 | -5.3% | -4.2% | -7.1% | |
| Q4 2022 | +9.6% | +8.9% | +14.4% | |
| Q3 2022 | +1.2% | +7.0% | +21.7% | |
| Q2 2022 | +10.4% | +15.7% | +10.9% | |
| Q1 2022 | +5.4% | +1.6% | -1.6% | |
| Q4 2021 | +3.7% | +3.8% | +2.6% | |
| Q3 2021 | +2.8% | +7.3% | +1.4% | |
| Q2 2021 | -1.3% | -0.1% | +8.7% | |
| Q1 2021 | +0.8% | -0.9% | +2.8% | |
| Q4 2020 | +2.2% | +2.0% | +19.8% | |
| Q3 2020 | -0.9% | +10.2% | +33.2% | |
| Q2 2020 | -0.9% | +0.8% | +15.3% | |
| Q1 2020 | +10.3% | +0.2% | +19.2% | |
| Q4 2019 | -5.9% | -7.3% | -12.0% | |
| Q3 2019 | +6.0% | +7.4% | +27.9% | |
| Q2 2019 | -12.0% | -14.2% | -21.5% | |
| Q1 2019 | +7.9% | +7.5% | +0.2% | |
| Q4 2018 | +4.3% | +5.5% | +15.7% | |
| Q3 2018 | -16.4% | -18.6% | -18.6% | |
| Q2 2018 | +2.9% | -1.9% | -1.1% | |
| Q1 2018 | -5.2% | -7.8% | -4.3% | |
| Q4 2017 | -2.1% | -2.9% | -3.6% | |
| Q3 2017 | +0.7% | -1.3% | +4.7% | |
| Q2 2017 | +4.3% | +0.8% | -4.8% | |
| Q1 2017 | -5.5% | -5.3% | -8.1% | |
| Q4 2016 | +11.8% | +13.3% | +9.3% | |
| Q3 2016 | +3.5% | +0.2% | +19.0% | |
| Q2 2016 | +12.2% | +15.3% | +18.1% | |
| Q1 2016 | +6.1% | — | — | |
| Q4 2015 | -19.9% | — | — | |
| Q3 2015 | +11.6% | — | — | |
| Q2 2015 | -15.0% | — | — | |
| Q1 2015 | -3.1% | — | — | |
| Q4 2014 | +1.8% | — | — | |
| Q3 2014 | +7.8% | — | — | |
| Q2 2014 | +2.2% | — | — | |
| Q1 2014 | +5.6% | — | — | |
| Q4 2013 | +2.2% | — | — | |
| Q3 2013 | +7.9% | — | — | |
| Q2 2013 | +7.9% | — | — | |
| Q1 2013 | +1.1% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q3 2012 | +17.3% | — | — | |
| Q2 2012 | -13.4% | — | — | |
| Q1 2012 | +10.4% | — | — | |
| Q1 2011 | +13.5% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2010 | +14.7% | — | — | |
| Q3 2011 | +14.7% | — | — | |
| Q4 2010 | +11.3% | — | — | |
| Q2 2010 | +11.3% | — | — | |
| Q2 2011 | +11.3% | — | — | |
| Q1 2010 | +16.6% | — | — |
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