Filing Flows › United Rentals (URI) › Q2 2026 › vs Q2 2025
United Rentals (URI) Q2 2026 vs Q2 2025 (year over year)
United Rentals's revenue rose $467M (+12%) from $3.9B in Q2 2025 to $4.4B in Q2 2026. The biggest changes: Equipment rentals +$412M (+12%); Re-rent revenue +$28.0M (+47%); Sales of rental equipment +$13.0M (+4%). Gross margin 39.3% against 38.9% (+0.4 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 39.3% | 38.9% | +0.4 pts |
| Operating margin | 25.8% | 25.4% | +0.4 pts |
| Net margin | 17.1% | 15.8% | +1.3 pts |
| Free cash flow margin | 2.2% | 2.9% | -0.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Owned equipment rentals | $3.0B | $2.7B | $246M | +9% |
| Other | $429M | $316M | $113M | +36% |
| Delivery and pick-up | $341M | $294M | $47.0M | +16% |
| Service and other revenues | $101M | $95.0M | $6.0M | +6% |
| Equipment rentals | $3.9B | $3.5B | $412M | +12% |
| Sales of rental equipment | $330M | $317M | $13.0M | +4% |
| Re-rent revenue | $88.0M | $60.0M | $28.0M | +47% |
| Sales of new equipment | $86.0M | $75.0M | $11.0M | +15% |
| Contractor supplies sales | $44.0M | $41.0M | $3.0M | +7% |
| Revenue | $4.4B | $3.9B | $467M | +12% |
| Gross profit | $1.7B | $1.5B | $199M | +13% |
| Cost of revenue | $2.7B | $2.4B | $268M | +11% |
| Operating profit | $1.1B | $1.0B | $135M | +13% |
| Operating expenses | $594M | $530M | $64.0M | +12% |
| Pre-tax earnings | $1.0B | $839M | $168M | +20% |
| Other expense, net | $131M | $164M | −$33.0M | -20% |
| SG&A | $472M | $422M | $50.0M | +12% |
| Other operating costs | $122M | $108M | $14.0M | +13% |
| Net earnings | $753M | $622M | $131M | +21% |
| Income tax | $254M | $217M | $37.0M | +17% |
| Depreciation & amortization | $116M | $108M | $8.0M | +7% |
| Share-based compensation | $43.0M | $34.0M | $9.0M | +26% |
| Working capital & other | $879M | $564M | $315M | +56% |
| Operating cash flow | $1.8B | $1.3B | $463M | +35% |
| Free cash flow (company-reported) | $95.0M | $116M | −$21.0M | -18% |
| Payments for purchases of rental equipment, net | $1.6B | $1.1B | $483M | +43% |
| Payments for purchases of non-rental equipment and intangible assets | $99.0M | $98.0M | $1.0M | +1% |
Questions
How much did United Rentals's revenue grow year over year in Q2 2026?
United Rentals's revenue rose $467M (+12%) from $3.9B in Q2 2025 to $4.4B in Q2 2026.
What drove United Rentals's revenue change in Q2 2026?
Equipment rentals +$412M (+12%); Re-rent revenue +$28.0M (+47%); Sales of rental equipment +$13.0M (+4%).