United Rentals posted first-quarter rental revenue of $2.175 billion, up 30.5 percent over the same period in 2021 and set a record for the company. Total revenue for the quarter was $2.524 billion.
The increase in rental revenue reflects the continuing recovery of activity broadly across the end-markets served by the company, it said, as well as increased rental fleet original equipment cost (OEC). Year-over-year, fleet productivity increased 13.0 percent while average OEC increased 16.4 percent.
The company raised its 2022 outlook from a range of $10.65 billion to $11.05 billion to a range of $11.1 billion to $11.5 billion.
Source: URI
