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.