M&A Strategy and Financial Overview
Fleet productivity: historical results (1)
1Q 2020
Actual YoY Change in
Average OEC
2.2%
Assumed YoY Impact of OEC
Inflation on Rent Rev
Fleet
Productivity (2)
Contribution from
Ancillary and Re-Rent
Reported YoY Change in
Rental Revenue
(1.5%)
(1.2%)
(0.2%)
(0.7%)
2Q 2020
(0.7%)
(1.5%)
(13.6%)(4)
(0.4%)
(16.2%)
3Q 2020
(4.6%)
(1.5%)
(8.0%)(4)
0.8%
(13.3%)
4Q 2020
(5.6%)
(1.5%)
(3.8%)(4)
0.8%
(10.1%)
Q1 2021
(5.7%)
(1.5%)
(0.5%)(4)
1.2%
(6.5%)
Q2 2021(3)
0.2%
(1.5%)
17.8%
2.3%
18.8%
Q3 2021
8.7%
(1.5%)
13.5%
1.7%
22.4%
Q4 2021
13.3%
(1.5%)
10.3%
2.6%
24.7%
Q1 2022
16.4%
(1.5%)
13.0%
2.6%
30.5%
Q2 2022
13.6%
(1.5%)
11.3%
2.8%
26.2%
Q3 2022
10.6%
(1.5%)
8.9%
2.0%
20.0%
Q4 2022(3)
14.2%
(1.5%)
5.9% (5)
0.2%
18.8%
Q1 2023
25.6%
(1.5%)
2.0%
(0.1%)
26.0%
Q2 2023
25.5%
(1.5%)
(2.0%)
(0.9%)
21.1%
Q3 2023
22.2%
Q3 2023 PF(6)
10.2%
(1.5%)
(1.5%)
(2.2%)
(0.5%)
18.0%
1.5%
(0.4%)
9.8%
Q3 2023 pro forma fleet productivity solid at 1.5%
3)
1)
Provided on an As Reported basis, except when otherwise noted.
2)
Fleet Productivity reflects the combined impact of changes in rental rates, time utilization, and mix that contribute to Owned
Equipment Rental revenue (OER).
4)
Denotes quarter in which URI closed a material acquisition (General Finance = 2Q21; Ahern = 4Q22).
The negative fleet productivity above includes the impact of COVID-19.
5)
6)
4Q22 Fleet Productivity was 6.5% on a standalone basis (i.e. excluding the impact of Ahern in the quarter).
Provided on a pro forma basis, as if Ahern was acquired January 1, 2022.
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