United Rentals Reports Strong Second Quarter Earnings for FY2023
August 11, 2023
☀️Earnings Overview
For the second quarter of FY2023, UNITED RENTALS ($NYSE:URI) reported USD 3554.0 million in revenue, a 28.3% increase from the same period last year. Net income for the period grew 19.9% year-over-year, totaling USD 591.0 million.
Market Price
On Wednesday, United Rentals reported strong second quarter earnings for FY2023, with the stock opening at $447.0 and closing at $445.0. This was down by 1.2% from the previous closing price of 450.2. The strong earnings reported by United Rentals provided a boost to its stock, which has seen an increase of almost 20% over the past year. This performance has bolstered investor confidence in the company and suggests that it is well positioned for continued growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for United Rentals. More…
| Total Revenues | Net Income | Net Margin |
| 13.19k | 2.29k | 17.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for United Rentals. More…
| Operations | Investing | Financing |
| 4.62k | -5.45k | 996 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for United Rentals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 25.51k | 18.09k | 108.58 |
Key Ratios Snapshot
Some of the financial key ratios for United Rentals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.5% | 21.9% | 27.5% |
| FCF Margin | ROE | ROA |
| 1.4% | 31.2% | 8.9% |
Analysis
At GoodWhale, we conduct comprehensive analyses to evaluate the wellbeing of companies. Recently, we’ve completed an evaluation of UNITED RENTALS, and found it to be a low risk investment. We based this on the Risk Rating, which assesses both the financial and business aspects of a company. We discovered two risk warnings in UNITED RENTALS’s income sheet and balance sheet. To view the detailed reports, register on goodwhale.com. Our Risk Rating ITO analysis will give you insight into the financial and business reliability of UNITED RENTALS, as well as provide you with an understanding of what to expect from an investment in this company. More…
Peers
The rental equipment market is highly competitive, with United Rentals, Inc. (URI) competing against Herc Holdings Inc. (Herc), Ashtead Group PLC (Ashtead), and Kanamoto Co., Ltd. (Kanamoto). URI is the largest equipment rental company in the world, with over 1,100 locations in the United States, Canada, and Europe. Herc is the second largest equipment rental company in the United States, with over 400 locations. Kanamoto is a leading equipment rental company in Japan, with over 100 locations.
– Herc Holdings Inc ($NYSE:HRI)
Herc Holdings Inc is a leading provider of equipment rental solutions. It has a market cap of 3.01B as of 2022 and a return on equity of 26.7%. The company has a strong focus on customer service and providing high-quality equipment. It has a wide range of products and services that it offers to its customers.
– Ashtead Group PLC ($LSE:AHT)
Ashtead Group PLC is a British multinational equipment rental company headquartered in London, United Kingdom. It is the second largest equipment rental company in the world, and has over 1,400 locations in nine countries. The company rents a wide range of construction and industrial equipment, such as excavators, cranes, and backhoes.
Ashtead Group PLC has a market cap of 18.66B as of 2022, and a Return on Equity of 24.37%. The company has been growing steadily in recent years, and is expected to continue to do so in the future. Ashtead Group PLC is a well-run company, and is a good investment for those looking for growth in the equipment rental industry.
– Kanamoto Co Ltd ($TSE:9678)
Kanamoto Co Ltd is a Japanese company that specializes in construction equipment. The company has a market cap of 77.73B as of 2022 and a Return on Equity of 6.4%. Kanamoto has a strong presence in the Japanese construction market and is a well-known player in the industry. The company’s products are used in a variety of construction projects, including residential and commercial construction, civil engineering, and more.
Summary
UNITED RENTALS has reported strong second quarter financial results for FY2023, with total revenue up 28.3% and net income up 19.9%. This is a positive sign for investors, as it suggests that the company is continuing to generate strong revenue and profits. In addition, UNITED RENTALS has seen its share price increase over the past year, suggesting that the market is confident in the company’s potential for growth. It is clear that UNITED RENTALS is a good investment opportunity, as it has demonstrated strong financial performance and continued growth prospects.
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