United Rentals, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year of 2016
January 27, 2016 at 04:15 pm
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United Rentals, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenues were $1,523 million against $1,564 million for the same period a year ago. Operating income was $397 million against $426 million for the same period a year ago. Income before provision for income taxes was $292 million against $311 million for the same period a year ago. Net income was $169 million against $194 million for the same period a year ago. Net cash provided by operating activities was $438 million against $335 million for the same period a year ago. Net income available to common stockholders was $169 million or $1.81 diluted earnings per share against $194 million or $1.88 diluted earnings per share for the same period a year ago. Adjusted earnings per share was $2.19 against $2.19 for the same period a year ago. EBITDA was $717 million $742 million for the same period a year ago. Adjusted EBITDA was $744 million $775 million for the same period a year ago. Free cash flow was $411 million against $245 million for the same period a year ago. Purchases of rental equipment was $109 million against $217 million for the same period a year ago. Purchases of non-rental equipment was $26 million against $36 million for the same period a year ago.
For the full year, the company reported total revenues were $5,817 million $5,685 million for the same period a year ago. Operating income was $1,518 million against $1,391 million for the same period a year ago. Income before provision for income taxes was $963 million against $850 million for the same period a year ago. Net income was $585 million against $540 million for the same period a year ago. Net cash provided by operating activities was $1,995 million against $1,801 million for the same period a year ago. Net income available to common stockholders was $585 million or $6.07 diluted earnings per share against $540 million or $5.15 diluted earnings per share for the same period a year ago. Adjusted earnings per share was $8.02 against $6.91 for the same period a year ago. EBITDA was $2,774 million against $2,599 million for the same period a year ago. Adjusted EBITDA was $2,832 against $2,718 million for the same period a year ago. Total rental and non-rental capital expenditures was $1.636 billion. Free cash flow came in at $919 million after CapEx.
The company provided earnings guidance for the full year of 2016. For the year, the company expects total revenue to be in the range of $5.65 billion to $5.95 billion, Adjusted EBITDA is to be in the range of $2.7 billion to $2.9 billion Net rental capital expenditures after gross purchases of approximately $1.2 billion, free cash flow is to be in the range of $900 million to $1.0 billion.
United Rentals, Inc. is specialized in equipment rental services intended especially for the construction and manufacturing industries, public services, governmental agencies and private individuals. Net sales break down by activity as follows:
- equipment rentals (86.9%);
- sale of rental equipment (8.3%);
- sale of new equipment (1.3%);
- sale of equipment to businesses (1.1%);
- other (2.4%): in particular, repair services and spare part sales.
Net sales per market are split between general industry (73.7%), electrical energy and security (26.3%).
The United States account for 90.1% of net sales.
United Rentals, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year of 2016