URI FY2026 Q2 RAISED

United Rentals, Inc. 실적 발표

Jul 23, 2026 · 04:30 ET Matthew J. FlanneryTed Grace

Buzzberg 분석

Raised adjusted EBITDA guidance by $300 million

United Rentals reported record Q2 FY2026 results with total revenue up 12% to $4.4B and adjusted EPS of $12.76. Management raised full-year guidance across revenue, EBITDA, and capex, citing broad-based demand from large projects (data centers, airports, LNG) and strong execution. The company noted record time utilization and supply constraints from OEMs, while local markets remain stable with modest growth. Q2 total revenue $4.4B (+12% YoY), rental revenue $3.8B (+13%), both records.

Buzzberg 분석 Raised adjusted EBITDA guidance by $300 million United Rentals reported record Q2 FY2026 results with total revenue up 12% to $4.4B and adjusted EPS of $12.76. Management raised full-year guidance across revenue, EBITDA, and capex, citing broad-based demand from large projects (data centers, airports, LNG) and strong execution. The company noted record time utilization and supply constraints from OEMs, while local markets remain stable with modest growth. Q2 total revenue $4.4B (+12% YoY), rental revenue $3.8B (+13%), both records. 전체 분석 보기분석 접기

Adjusted EBITDA margin 46.6% (ex-scaffolding gain +40bps YoY core margin).
FY2026 guidance raised: total revenue now $17.5-17.8B (up $500M), EBITDA $7.975-8.125B (up $300M), gross capex $4.85-5.25B.
Record fleet time utilization and strong fleet productivity of 3.4% drove OER growth.

Revenue $4.41B +11% QoQ

EPS $12.76 +31% QoQ

Gross margin 39.27% reported

Op margin 25.8% reported

이번 분기에 달라진 점

Guidance

Raised adjusted EBITDA guidance by $300 million

Guidance · revenue to $17.65B

Capex

Increased gross capex guidance by $450 million

Management raised gross rental capex guidance by $450 million to $4.85-$5.25 billion, responding to stronger-than-expected demand and historically high time utilization. They noted the increased capex is supported by confidence in the demand pipeline extending into 2027.

Demand

Running at historically high time utilizations

Management's tone was confident, driven by record quarterly results, raised full-year guidance, and strong demand across large projects. They expressed optimism about continued growth into 2027.

Other

S&P raised credit outlook to positive

FY2026 guidance raised: total revenue now $17.5-17.8B (up $500M), EBITDA $7.975-8.125B (up $300M), gross capex $4.85-5.25B.

AI, 자본지출 및 수요 분석

플랫폼 및 수익화

Management said they are implementing AI into pricing and rate tools, but noted it is still in pilot mode and the primary driver of rate success remains industry supply-demand discipline.

수요

수주 및 전환

Running at historically high time utilizations. Management's tone was confident, driven by record quarterly results, raised full-year guidance, and strong demand across large projects. They expressed optimism about continued growth into 2027.

자본지출

투자 및 생산능력

톤 · confident

Management's tone was confident, driven by record quarterly results, raised full-year guidance, and strong demand across large projects. They expressed optimism about continued growth into 2027.

향후 가이던스

RaisedGuidance · revenue to $17.65B

향후 가이던스
지표	기간	범위	중간값	상태
Capex	FY2026	$4.85B–$5.25B	$5.05B	RAISED
Free cash flow	FY2026	$2.15B–$2.45B	$2.3B	MAINTAINED
Revenue	FY2026	$17.5B–$17.8B	$17.65B	RAISED

가이던스 신뢰도

2 / 2달성 또는 상회

가이던스 신뢰도
제시 시점	지표	목표 기간	가이던스	실제	결과
FY2025 Q3	Capex	FY2025	$4B–$4.2B	$4.19B	Met / beat
FY2025 Q3	Free cash flow	FY2025	$2.1B–$2.3B	$2.18B	Met / beat