United Rentals Inc. posted revenue of $1.597 billion and rental revenue of $1.367 billion for the second quarter, compared with $1.421 billion and $1.204 billion, respectively, for the same period last year.
The company”™s trench, power and pump specialty segment’s rental revenue increased by 18.5 percent year-over-year, primarily on a same-store basis, while the segment”™s rental gross margin improved by 250 basis points to 49.6 percent.
For the first six months of 2017, the Stamford firm ”“ North America”™s largest equipment rental company, with a market share of about 11 percent ”“ said that net cash provided by operating activities was $1.337 billion, and free cash flow was $614 million after total rental and nonrental gross capital expenditures of $968 million.
For the first six months of 2016, net cash provided by operating activities was $1.247 billion, and free cash flow was $792 million after total rental and nonrental gross capital expenditures of $764 million. Free cash flow for the first six months of 2017 and 2016 included aggregate merger and restructuring related payments of $31 million and $6 million, respectively.
The size of the rental fleet was $10.27 billion of original equipment cost at June 30, compared with $8.99 billion at Dec. 31, 2016.
CEO Michael Kneeland noted that United Rentals has increased its full-year guidance for total revenue, adjusted EBITDA, capital expenditure and free cash flow.
