United Rentals, Inc. (URI) is making bold moves to solidify its position as the leading equipment rental provider with its acquisition of H&E Equipment Services, Inc. (HEES) . This $4.8 billion deal, which includes $1.4 billion in net debt, is a strategic milestone that will expand United Rentals’ capabilities and footprint across key U.S. markets. The transaction is expected to close in the first quarter of 2025, and its immediate impact on the company’s growth trajectory is already generating buzz.Shares ...

Investors don't need to just invest in flashy companies that make the headlines to beat the market. Names like Nvidia and Tesla may be exciting to follow, but a quiet, industrial stock like United Rentals (URI -0.99%) can provide market-beating returns, too.Shares of the world's largest equipment rental company have trounced the S&P 500 index in 2024 and should have more room to run heading into 2025. Even after soundly beating the S&P 500 with a 40% total return in 2024, United Rentals looks to have tailwi ...

Dublin, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The "Mobile Toilet Rental Market Report 2024" has been added to ResearchAndMarkets.com's offering. This Mobile Toilet Rental market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. The mobile toilet rental market size has grown strongly in recent years. It will gro ...

A month has gone by since the last earnings report for United Rentals (URI) . Shares have added about 1.9% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is United Rentals due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. United Rentals Q3 Earnings & Revenues Miss E ...

United Rentals (NYSE: URI ) is having a great year so far. The stock is up over 40% and operationally it is on track for another great year. With its stock close to record highs, it is worth evaluating if at this moment United RentalsWriting in a personal capacity, I'm a longtime investment professional. Have worked as an investment advisor for a global bank, an investment analyst for a mulitbillion fund, several European Venture Capital firms and now active within infrastructure investment.Analyst’s Disclo ...

Financial Data and Key Metrics - Total revenue grew by 6% YoY to nearly $4 billion, with rental revenue increasing by over 7% to $3.5 billion, both setting third-quarter records [5] - Fleet productivity increased by 3.5%, supported by capital efficiency and industry discipline [5] - Adjusted EBITDA reached a third-quarter record of $1.9 billion, with a margin of nearly 48% [5] - Adjusted EPS grew YoY to $11.80, another third-quarter record [5] - Year-to-date free cash flow exceeded $1.2 billion, on track to achieve a free cash flow margin in the mid-teens for the full year [7] - The company returned nearly $500 million to shareholders in Q3 via share buybacks and dividends, with a target to return nearly $2 billion for the full year [8] Business Line Performance - Specialty rental revenue grew 24% YoY, or 15% excluding the Yak acquisition [6] - General rental and specialty businesses both saw growth, with 15 cold starts added in Q3, bringing the year-to-date total to 57 [6] - Growth was observed in both construction (led by non-residential) and industrial end markets, particularly in manufacturing [6] - The used equipment market remained healthy, with a record amount of OEC sold in Q3, generating $321 million in proceeds [13] Market Performance - The company saw strength in verticals such as data centers, airports, healthcare, and battery manufacturing [6] - The used equipment market showed strong demand, with adjusted margins and recovery rates remaining high at 49.5% and 54%, respectively [13] - The company spent nearly $1.3 billion on capex in Q3 to replace and expand fleet to meet customer needs [7] Strategic Direction and Industry Competition - The company is focused on being the partner of choice for customers, emphasizing safety, productivity, and sustainability [4] - Investments in next-generation telematics and customer-supporting technologies, such as ProBox OnDemand, demonstrate a commitment to innovation [9] - The company is well-positioned for growth in 2025, with tailwinds from large, complex projects still in early stages [8] - The company continues to deepen customer relationships by providing equipment and solving challenges, leveraging competitive advantages and a flexible business model [10] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in delivering another year of profitable growth, with updated guidance reaffirming expectations [4] - The company is optimistic about 2025, expecting another year of growth based on current trends and customer sentiment [8] - Management highlighted the importance of maintaining discipline in pricing and capital allocation to drive long-term shareholder value [10] Other Important Information - The company's balance sheet remains strong, with net leverage of 1.8x and total liquidity of nearly $2.9 billion [16] - Updated guidance for 2024 includes narrowed ranges for total revenue ($15.1B-$15.3B), adjusted EBITDA ($7.115B-$7.215B), and capex ($3.55B-$3.75B) [17] Q&A Session Summary Question: Growth momentum into 2025 and contributions from specialty vs. general rental - Management expects growth in 2025 to be driven by a combination of fleet carryover, large project pipelines, and potential interest rate stabilization [20][21] - Specialty rental is expected to continue growing, supported by mega projects and infrastructure tailwinds [22] Question: M&A landscape and attractiveness of the mobile modular space - The company is pleased with the General Finance acquisition and is ahead of schedule in doubling the size of that business [24] - The company continues to evaluate M&A opportunities, focusing on strategic, cultural, and financial fit [25] Question: Pricing power in a deflationary environment - Management believes the company can continue to drive rate increases, even in a deflationary environment, due to the need to offset past inflation and maintain industry discipline [27] Question: Fleet age and mix - The fleet age is just over 50 months, the lowest since pre-COVID, with headroom for growth if needed [29] Question: Fleet productivity trends - Fleet productivity is on track to match 2023 levels, with time utilization back to pre-COVID levels [32] Question: Capex cadence for 2025 - Management expects a similar capex cadence in 2025, with a return to normalized supply chain conditions [37] Question: Local market demand and fleet optimization - The company is not experiencing significant costs or efforts in moving fleet geographically, thanks to a dense network and fungible assets [39] Question: Specialty growth drivers - Power remains a strong growth area within specialty, with growth across all segments [40] Question: IT investments and payback - The company is making investments in AI and advanced telematics, with expected ROI over time, though some projects are still in early stages [43][45] Question: Path to improved incremental margins in 2025 - Improved incremental margins in 2025 will depend on growth, technology investments, and the impact of cold starts [49] Question: Local account demand stabilization - Management is optimistic about local market demand stabilization, supported by customer confidence and potential interest rate cuts [51] Question: Hurricane impact on margins - The impact of hurricanes on Q4 margins is expected to be minimal, with potential effects more likely in 2025 [54][55] Question: Industrial end market trends - Manufacturing remains strong, while petrochemicals face headwinds, with potential for improvement in 2025 [58][59] Question: Ancillary and re-rent revenue growth - Ancillary and re-rent revenue growth is expected to continue, driven by specialty growth, though Yak's contribution will anniversary [60] Question: Sourcing and fleet management - The company is leveraging technology to improve fleet management and sourcing efficiency, with a focus on predictive analytics [63] Question: New equipment pricing and supply trends - The company is pleased with vendor efforts to stabilize supply chains, with pricing reflecting past inflation and steady demand [68] Question: Cold start strategy and specialty growth - The company continues to open cold starts based on product and geographic opportunities, with significant headroom in specialty growth [71][72] Question: M&A prioritization and specialty vs. general rental - M&A prioritization is based on customer value, with a focus on new product offerings and capacity expansion [77][78] Question: New sales trends - New sales growth in Q3 was driven by the Yak acquisition, with underlying growth around 15% [80]

United Rentals, Inc. (URI) witnessed a 2.8% dip in its shares during the after-hours trading yesterday, following the release of its third-quarter 2024 results. The company’s earnings per share (EPS) and revenues fell short of the Zacks Consensus Estimate. Nonetheless, both metrics registered improvement on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Matthew Flannery, CEO of United Rentals, expressed satisfaction with the company’s record third-quarter res ...

Q United Rentals® Third Quarter 2024 Investor Presentation O United Rentals® Work United® Introductory information Unless otherwise specified, the information in this presentation, including forward-looking statements, is as of our most recent earnings call held on October 24, 2024. We make no commitment to update any such information contained in this presentation. Certain statements in this presentation are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 ...

United Rentals (URI) reported $3.99 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 6%. EPS of $11.80 for the same period compares to $11.73 a year ago.The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $3.99 billion. With the consensus EPS estimate being $12.49, the EPS surprise was -5.52%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

United Rentals (URI) came out with quarterly earnings of $11.80 per share, missing the Zacks Consensus Estimate of $12.49 per share. This compares to earnings of $11.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.52%. A quarter ago, it was expected that this equipment rental company would post earnings of $10.48 per share when it actually produced earnings of $10.70, delivering a surprise of 2.10%.Over the last four qua ...