United Rentals, Inc. Announces Asset Impairment Charges for the Fourth Quarter Ended December 31, 2019; Announces Earnings Guidance for the Year 2020; Announces Operating Results for the Fourth Quarter and Full Year Ended December 31, 2019
January 29, 2020 at 09:15 pm
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United Rentals, Inc. announced asset impairment charges for the fourth quarter ended December 31, 2019. For the quarter, the company reported asset impairment charge per share of $0.01.
For the year 2020, the company expects total revenue between $9.4 billion to $9.8 billion.
The company announced operating results for the fourth quarter and full year ended December 31, 2019. For the quarter, on an as reported basis, fourth quarter fleet productivity decreased 2.4% year-over-year. On a pro forma basis, fleet productivity decreased 1.8%, as the combined benefit from rental rates and mix did not offset the impact of lower time utilization.
For the year, on an as reported basis, fleet productivity decreased 2.2% year-over-year. On a pro forma basis, fleet productivity increased 0.6%, as the combined benefit of rental rates and mix was partially offset by lower time utilization.
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 Asset Impairment Charges for the Fourth Quarter Ended December 31, 2019; Announces Earnings Guidance for the Year 2020; Announces Operating Results for the Fourth Quarter and Full Year Ended December 31, 2019