United Rentals Inc (URI) Q2 2024 Earnings: EPS of $9.54 Misses Estimate, Revenue at $3.773 Billion

GuruFocus07-25

On July 24, 2024, United Rentals Inc (URI, Financial) released its 8-K filing announcing financial results for the second quarter of 2024. United Rentals is the world's largest equipment rental ...

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United Rentals is the world's largest equipment rental ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2480560/united-rentals-inc-uri-q2-2024-earnings-eps-of-954-misses-estimate-revenue-at-3773-billion\">Source Link</a>\n\n</div>\n","source":"gurufocus_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>United Rentals Inc (URI) Q2 2024 Earnings: EPS of $9.54 Misses Estimate, Revenue at $3.773 Billion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUnited Rentals Inc (URI) Q2 2024 Earnings: EPS of $9.54 Misses Estimate, Revenue at $3.773 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-25 05:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2480560/united-rentals-inc-uri-q2-2024-earnings-eps-of-954-misses-estimate-revenue-at-3773-billion><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On July 24, 2024, United Rentals Inc (URI, Financial) released its 8-K filing announcing financial results for the second quarter of 2024. United Rentals is the world's largest equipment rental ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2480560/united-rentals-inc-uri-q2-2024-earnings-eps-of-954-misses-estimate-revenue-at-3773-billion\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"URI","symbol_name":"联合租赁","start_time":0,"source_url":"https://www.gurufocus.com/news/2480560/united-rentals-inc-uri-q2-2024-earnings-eps-of-954-misses-estimate-revenue-at-3773-billion","article_id":"2454854351","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2454854351","pubTimestamp":1721855474,"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"On July 24, 2024, United Rentals Inc (URI, Financial) released its 8-K filing announcing financial results for the second quarter of 2024. United Rentals is the world's largest equipment rental compan","collect":0,"end_time":0,"defaultTopTitle":"gurufocus.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"URI":"联合租赁"},"translate_title":"United Rentals Inc(URI)2024年第二季度收益：每股收益为9.54美元，低于预期，收入为37.73亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"URI":1},"content_text":"On July 24, 2024, United Rentals Inc (URI, Financial) released its 8-K filing announcing financial results for the second quarter of 2024. United Rentals is the world's largest equipment rental company, operating primarily in the United States and Canada, with a 15% market share in a highly fragmented market. The company serves general industrial, commercial construction, and residential construction markets.Performance Overview United Rentals Inc (URI, Financial) reported total revenue of $3.773 billion for Q2 2024, slightly below the analyst estimate of $3.774 billion. However, the company reported a GAAP diluted earnings per share (EPS) of $9.54, missing the analyst estimate of $9.57. Adjusted EPS stood at $10.70.Net income for the quarter was $636 million, reflecting a 7.6% year-over-year increase, with a net income margin of 16.9%. Adjusted EBITDA was $1.769 billion, representing a 4.4% year-over-year increase, although the adjusted EBITDA margin decreased by 80 basis points to 46.9%.Key Financial Achievements United Rentals Inc (URI, Financial) achieved several significant financial milestones in Q2 2024:Rental revenue increased by 7.8% year-over-year to $3.215 billion.Fleet productivity increased by 4.6% year-over-year, including the impact of the Yak acquisition.Year-to-date net cash provided by operating activities was $2.294 billion, with free cash flow of $1.065 billion.Returned $969 million to shareholders through share repurchases and dividends.Net leverage ratio stood at 1.8x, with total liquidity of $3.267 billion as of June 30, 2024.Income Statement Highlights Metric Q2 2024 Q2 2023 Total Revenue $3.773 billion $3.554 billion Net Income $636 million $591 million GAAP Diluted EPS $9.54 $8.58 Adjusted EPS $10.70 N/A Adjusted EBITDA $1.769 billion $1.695 billionBalance Sheet and Cash Flow As of June 30, 2024, United Rentals Inc (URI, Financial) reported total assets of $27.613 billion, up from $25.589 billion at the end of 2023. The company’s cash and cash equivalents increased to $467 million from $363 million. Year-to-date, the company repurchased $750 million of common stock and paid $219 million in dividends.CEO Commentary\"We were pleased with our record second-quarter results across revenue, adjusted EBITDA, and EPS, as 2024 continues to play out as we expected. The integration of Yak remains on track. This acquisition builds upon our one-stop shop strategy of providing customers a best-in-class rental experience through our general rentals and specialty offerings,\" said Matthew Flannery, CEO of United Rentals.Outlook United Rentals Inc (URI, Financial) reaffirmed the mid-points of its 2024 outlook, narrowing the ranges for revenue and adjusted EBITDA. The company expects total revenue between $15.05 billion and $15.35 billion and adjusted EBITDA between $7.09 billion and $7.24 billion.For more detailed information, please refer to the full 8-K filing.  Explore the complete 8-K earnings release (here) from United Rentals Inc for further details.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454854351"}