Filing Flows › United Rentals (URI) › Q2 2026 › vs Q1 2026
United Rentals (URI) Q2 2026 vs Q1 2026 (quarter over quarter)
United Rentals's revenue rose $425M (+11%) from $4.0B in Q1 2026 to $4.4B in Q2 2026. The biggest changes: Equipment rentals +$429M (+12%); Sales of rental equipment −$20.0M (-6%); Re-rent revenue +$10.0M (+13%). Gross margin 39.3% against 36.9% (+2.4 pts).
United Rentals, Q2 2026: revenue $4.4B (+12% year over year), operating margin 25.8%, net earnings $753M, operating cash flow $1.8B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 39.3% | 36.9% | +2.4 pts |
| Operating margin | 25.8% | 21.8% | +4.0 pts |
| Net margin | 17.1% | 13.3% | +3.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Owned equipment rentals | $3.0B | $2.7B | $306M | +11% |
| Other | $429M | $382M | $47.0M | +12% |
| Delivery and pick-up | $341M | $274M | $67.0M | +24% |
| Service and other revenues | $101M | $92.0M | $9.0M | +10% |
| Equipment rentals | $3.9B | $3.4B | $429M | +12% |
| Sales of rental equipment | $330M | $350M | −$20.0M | -6% |
| Re-rent revenue | $88.0M | $78.0M | $10.0M | +13% |
| Sales of new equipment | $86.0M | $84.0M | $2.0M | +2% |
| Contractor supplies sales | $44.0M | $40.0M | $4.0M | +10% |
| Revenue | $4.4B | $4.0B | $425M | +11% |
| Gross profit | $1.7B | $1.5B | $263M | +18% |
| Cost of revenue | $2.7B | $2.5B | $162M | +6% |
| Operating profit | $1.1B | $869M | $269M | +31% |
| Operating expenses | $594M | $600M | −$6.0M | -1% |
| Pre-tax earnings | $1.0B | $701M | $306M | +44% |
| Other expense, net | $131M | $168M | −$37.0M | -22% |
| SG&A | $472M | $441M | $31.0M | +7% |
| Other operating costs | $122M | $159M | −$37.0M | -23% |
| Net earnings | $753M | $531M | $222M | +42% |
| Income tax | $254M | $170M | $84.0M | +49% |
| Depreciation & amortization | $116M | $114M | $2.0M | +2% |
| Share-based compensation | $43.0M | $36.0M | $7.0M | +19% |
| Working capital & other | $879M | $833M | $46.0M | +6% |
| Operating cash flow | $1.8B | $1.5B | $277M | +18% |
Questions
How much did United Rentals's revenue grow quarter over quarter in Q2 2026?
United Rentals's revenue rose $425M (+11%) from $4.0B in Q1 2026 to $4.4B in Q2 2026.
What drove United Rentals's revenue change in Q2 2026?
Equipment rentals +$429M (+12%); Sales of rental equipment −$20.0M (-6%); Re-rent revenue +$10.0M (+13%).