United Rentals Earnings Reconciliation and Strategic Vision
A decade of continued financial improvement...
Total Revenue
Adjusted EBITDA (1)
Adjusted EPS (1)
$12,000M
$6,000M
CAGR
CAGR
$10,000M
$5,000M
11.0%
12.2%
$8,000M
$4,000M
$6,000M
$3,000M
$4,000M
$2,000M
$2,000M
$1,000M
$0
$0
2012
2017
2022
2012
Strong revenue growth
Trailing 5-year CAGR: +11.9%
•
Trailing 10-year CAGR: +11.0%
Improved diversification
•
Increased industrial exposure
Increased non-cyclical specialty exposure
Notes:
1)
2)
3)
4)
$35
$30
CAGR
24.1%
$25
$20
$15
$10
$5
$0
2017
2022
Powerful EBITDA growth
Trailing 5-year CAGR: +12.2%
Trailing 10-year CAGR: +12.2%
Sharply higher margins
Adj. EBITDA margins up ~1,550 bps vs. 2008 (2)
Adj. EBITDA margins up ~2,200 bps vs 2009 (3)
2012
2017(4)
2022
Significant EPS growth
•
Trailing 5-year CAGR: +25.1% (4) vs. +11.6% for the
S&P 500 with less relative volatility over the same
period
Trailing 10-year CAGR: +24.1% vs. +8.0% for the
S&P 500 with less relative volatility over the same
period
Ongoing transformation of the company's financial performance
Adjusted EBITDA and Adjusted EPS are non-GAAP measures. Adjusted EBITDA margin represents Adjusted EBITDA divided by total revenue. See the tables provided elsewhere in this presentation for reconciliations to the most comparable GAAP measures.
Reflects change/ improvement since peak of the last cycle relative to 2022.
Reflects change/ improvement since trough of the last cycle relative to 2022.
2017 Adjusted EPS excludes a one-time benefit from the Tax Act of $8.05. Periods subsequent to 2017 reflect a reduction in the U.S. federal corporate statutory rate from 35% to 21% as a result of the Tax Act.
United Rentals®
Work United®
| 10View entire presentation