United Rentals tops earnings expectations and re-issues FY2020 outlook (NYSE:URI

published 31.07.2020 16:05

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United Rentals shares declined 2% since the beginning of the year.

Adjusted EBITDA margin down 50 bps Y/Y to 46.4%.

Used equipment sales generated $176M of proceeds vs. $197M a year ago, with 320 bps decline in adjusted gross margin rate to 46%, due to changes in pricing and the mix of equipment sold.

Fleet productivity for the quarter decreased 13.6%, primarily due to lower rental volumes.

United Rentals (URI ) reports total revenue fell 15% to $1.94B and rental revenue slipped 16.2% to $1.642B in Q2.

by Niloofer Shaikh from seekingalpha.com

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