联合租赁公司United Rentals（URI）2022年年度报告（英文版）（128页）.pdf

1、ANNUAL REPORT2022UNITED RENTALS,INC.2022 ANNUAL REPORTWe marked our first 25 years in business by delivering the best financial performance in our history.Now we intend to raise the bar again in 2023.2022 was another year of strong demand for equipment rental services,driven by major tailwinds in ou

2、r end-markets.We leaned into that opportunity,continuing to invest in the business and growing rental revenue by double digits across our general rental and specialty segments.In December,we acquired Ahern Rentals at an ideal time to expand our resources.While the transaction had little impact on ou

3、r 2022 financial results,it enabled us to begin integrating approximately 2,100 employees,60,000 fleet units and over 100 branches at year-end,ahead of seasonal demand.The acquisition is consistent with our strategy to“grow the core”to capture market share;it increased our service capacity to 24,600

4、 employees and more than 1,500 branches.For the full year 2022,we reported record total revenue of$11.6 billion,GAAP diluted earnings per share of$29.65,and adjusted EPS1 of$32.50.Net income was$2.1 billion,at a margin of 18.1%.Adjusted EBITDA was also a record at$5.6 billion,at a margin of 48.3%1.W

5、e generated$4.4 billion of net cash from operating activities and$1.8 billion of free cash flow1 after investing$3.4 billion of gross capital expenditures in rental fleet.Our year-end return on invested capital(ROIC)set a new high-water mark at 12.7%.This was an improvement of 240 basis points year-

6、over-year.Our net leverage ratio was within our target range at 2.0 x,and our liquidity was essentially unchanged year-over-year at a robust$2.9 billion.Strong demand now and in the long-term Our current operating landscape has picked up where 2022 left off:ongoing growth in non-residential construc