January 27, 2023
United Rentals, Stamford, Conn., recently reported $3.30 billion in total revenue during the 2022 fourth quarter, up from $2.78 billion in the 2021 fourth quarter. Fourth quarter rental revenue was a record $2.75 billion, an 18.8 percent increase compared to $2.31 billion during the same time last year.
During the 2022 full year, the company earned $11.64 billion in total revenue, up from $9.72 billion in 2021. Rental revenue in 2022 was $10.12 billion, up from $8.21 billion in 2021.
Total revenue for 2023 is expected to range from $13.7 billion to $14.2 billion.
“Our fourth quarter results capped an outstanding year, during which we set records for revenue, profitability, margins and returns. These achievements are a testament to our team’s commitment to our customers. With the Ahern integration on track, and a world-class combination of people, process and technology, we’re positioned to raise the bar again in 2023,” said Matthew Flannery, CEO, United Rentals.
“Our guidance reflects our expectations for another year of strong growth, and our ability to convert this growth into compelling returns. The introduction of our dividend program reflects the strength and resiliency of our operating model and our ability to generate cash across the cycle, while continuing to invest in growth. Combined with the restart of our share repurchase program, we expect to return approximately $1.4 billion of cash to our shareholders this year as we continue to drive long-term value creation,” said Flannery.
