Filing Flows › United Rentals (URI) › Q2 2026
United Rentals (URI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 22, 2026
United Rentals (URI) reported revenue of $4.4B for the second quarter 2026 (Q2 2026), +12% from a year earlier and +11% from the quarter before. Operating margin was 25.8%, net earnings $753M (17.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +11% | +12% |
| Gross profit | $1.7B | +18% | +13% |
| Operating profit | $1.1B | +31% | +13% |
| Net earnings | $753M | +42% | +21% |
| Operating cash flow | $1.8B | +18% | +35% |
| Free cash flow | $95.0M | — | -18% |
What changed
Revenue was $4.4B in Q2 2026, up 12% year over year and up 11% from the previous quarter. Owned equipment rentals was the largest line at 68% of revenue. Owned equipment rentals added $0.25B year over year (up 9%), 53% of the total change.
Gross margin was 39.3%, up 0.4 points from Q2 2025. Operating profit was $1.1B, a 25.8% margin (up 0.4 points year over year). Of the extra revenue versus Q2 2025, 29% reached operating profit, above the 25% margin then. Operating expenses grew 12% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $0.75B, up 21% year over year. The effective tax rate was 25.2%.
Operating cash flow was $1.8B (up 35% year over year), 238% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.88B. After payments for purchases of rental equipment, net ($1.6B) and payments for purchases of non-rental equipment and intangible assets ($0.10B), free cash flow as the company reports it was $0.10B.
Questions
What was United Rentals' revenue in the second quarter 2026?
United Rentals (URI) reported revenue of $4.4B for the second quarter 2026 (Q2 2026), +12% from a year earlier and +11% from the quarter before.
Was United Rentals profitable in the second quarter 2026?
Operating profit was $1.1B (25.8% of revenue) and net earnings $753M.
Source: United Rentals 10-Q on SEC EDGAR.