On Wednesday, United Rentals Inc. (NYSE: URI), Stamford, Connecticut, reported second-quarter sales of $2.29 billion, which was up 18% from $1.94 billion last year.
For the first six months of this year, United Rentals posted a total of $4.43 billion in revenue compared to $4.06 billion over the same timeframe in 2020. Net income for the quarter increased 38.2% year-over-year to $293 million.
“We were pleased with our second quarter results, which were in line with our expectations and reflected a continued recovery across our construction and industrial markets,” said United Rentals CEO Matthew Flannery. “I continue to be proud of the job our team does every day to safely support our customers as their activity levels rebound.
United Rentals expects full-year revenue to be in the range of $9.45 billion to $9.75 billion.
“Looking forward, we remain encouraged by the gains we’ve seen in end-market indicators, including our customers’ sentiment and project visibility,” Flannery said. “We are raising our guidance to reflect the expected contribution from our recently completed acquisitions, as well as accelerated momentum in our underlying business. Combined, we believe this positions us well to deliver strong growth and returns in the second half of the year.”