The 2020 Mid-Year Economic Update_long

United Rentals Revenue Up 6.2% in 2Q

Rental revenue increased 17 percent in the quarter.

United Rentals, Inc. (NYSE: URI), Stamford, CT, reported second-quarter sales of $1.4 billion, up 6.2 percent over the same period a year ago. Rental revenue was $1.2 billion, up 17 percent year-over-year.

Profit grew 13 percent to $94 million.

"Our strong performance in the quarter reflects significantly more equipment on rent at better margins than a year ago, resulting in a new high water mark for second quarter EBITDA margin,” CEO Michael Kneeland said. “The rebound in nonresidential construction is continuing to drive up demand, particularly in the energy and commercial sectors."

For the first six months, sales were $2.6 billion, up 12 percent year-over-year. Rental revenue grew 13 percent to $2.2 billion.

Half-year profit grew 48 percent to $154 million.

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