STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) (“United Rentals” or “the company”) today announced that it has entered into a definitive agreement to acquire Yak Access, LLC, Yak Mat, LLC and New South Access & Environmental Solutions, LLC (collectively, “Yak”) from Platinum Equity (“Platinum”) for approximately $1.1 billion in cash. The transaction is expected to close in the first quarter of 2024, subject to limited contractual conditions. Yak is a leader in the North American matti ...

The most recent trading session ended with United Rentals (URI) standing at $693.27, reflecting a +1.03% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq increased by 0.9%.The the stock of equipment rental company has risen by 9.72% in the past month, leading the Construction sector's gain of 9.43% and the S&P 500's gain of 3.85%.Investors will be eagerly watching for ...

STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) today announced that it will participate in the 16th Annual Evercore ISI Industrial Conference on Tuesday, March 5, 2024. The conference will include a presentation by Matt Flannery, chief executive officer and Ted Grace, chief financial officer. The presentation will begin at 3:10 p.m. ET and is available via the following link: https://wsw.com/webcast/evercore42/uri/2190000 About United Rentals United Rentals, Inc. is the largest equipm ...

A month has gone by since the last earnings report for United Rentals (URI) . Shares have added about 1.1% 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 its most recent earnings report in order to get a better handle on the important drivers. United Rentals’ Q4 Earnings Beat, Margins Fall ...

STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) today announced that it will participate in the Citi 2024 Global Industrial Tech and Mobility Conference on Tuesday, February 20, 2024. The conference will include a presentation by Matt Flannery, chief executive officer and Ted Grace, chief financial officer. The presentation is scheduled to begin at 3:30 p.m. ET and will be available via the following link: https://kvgo.com/citi/united-rentals-inc-feb-2024. About United Rentals United R ...

Sangwien/iStock via Getty Images MoneyShow’s top contributing analysts, strategists, and newsletter editors share their investment recommendations for the year ahead. See Part 8 here. United Rentals By John Eade, President of Argus Research United Rentals (URI) shares have consistently outperformed the market and the Industrial sector over trailing 3-month, 1-year, and five-year periods. We expect this trend to continue. United Rentals is the largest rental equipment company in the world. We are comfort ...

STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI), the world's largest equipment rental company, today announced a next-generation access management solution that seamlessly manages jobsite and equipment access through RFID badges. This single-badge, multi-use solution can increase jobsite visibility and control for safer, more efficient operations. Next-generation access management is compatible with a variety of third-party workforce management solutions that register workers and issue ...

United Rentals (URI 12.46%) shares powered 12.4% higher through 12:45 p.m. ET on Thursday after the lessor of construction and general industrial equipment reported better-than-expected sales for the quarter -- and better earnings as well.Heading into the Q4 2023 report, Wall Street analysts forecast that United Rentals would earn $10.93 per share, adjusted for one-time items, on quarterly revenue of $3.6 billion. As it turned out, United Rentals earned $11.26 per share as revenue came in ahead of expectati ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2023 grew by 13% year-over-year to $3.7 billion, marking a record for the fourth quarter [6] - Rental revenue increased by 13.5%, with adjusted EBITDA rising almost 10% to over $1.8 billion, resulting in a margin of 48% [6][15] - Adjusted EPS grew by 16% to $11.26, while free cash flow exceeded $2.3 billion for the year [7][18] Business Line Data and Key Metrics Changes - Fourth quarter rental revenue reached a record $3.12 billion, up $372 million or 13.5% year-over-year, driven by diverse strength across end markets [13] - Adjusted EBITDA for the quarter was a record $1.81 billion, reflecting a year-over-year increase of $162 million or 10% [15] - Ancillary revenues within rental increased by 14.2%, consistent with rental revenue growth [16] Market Data and Key Metrics Changes - Industrial end markets saw healthy growth, particularly in industrial manufacturing and power, with solid growth in construction markets [8] - Geographically, rental revenue in specialty increased by 15% year-on-year, reflecting double-digit growth across all businesses [8] Company Strategy and Development Direction - The company plans to return nearly $2 billion of cash to shareholders in 2024, with a reduced leverage target of 1.5 to 2.5 times [9][24] - The focus remains on funding growth through attractive returns, both organically and via acquisitions, while also returning excess free cash flow to shareholders [22][24] - The company aims to achieve its 2028 aspirational goals, emphasizing operational excellence and customer-centric strategies [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2024, supported by customer sentiment indicators and solid backlogs, despite a transition year with expected mid-single-digit growth [20][58] - The company remains confident in its ability to generate strong free cash flow throughout the cycle, which is seen as a hallmark of its business model [7][18] Other Important Information - The company returned over $1.4 billion to shareholders in 2023, including $1 billion through share repurchases and $406 million via dividends [19] - The net leverage ratio improved to 1.6 times at the end of the quarter, with total liquidity exceeding $3.3 billion [19] Q&A Session Summary Question: Fleet growth and productivity expectations for 2024 - Management indicated a planned fleet growth of about 4% to 5% for 2024, with expectations for positive fleet productivity despite inflationary pressures [26][28] Question: M&A landscape and capital allocation - Management confirmed that M&A remains a priority, with a robust pipeline and a high bar for acquisitions, while also focusing on returning cash to shareholders [30][31] Question: Incremental margins and investment impacts - Management acknowledged that incremental margins are expected to be lower than historical ranges due to ongoing investments in cold starts and technology [34][35] Question: Ahern integration and GFN growth - The integration of Ahern is complete, with efficiencies expected to continue, and GFN is ahead of schedule in its growth plan [50][51] Question: Cash taxes and potential tax legislation impacts - Management discussed a significant increase in cash taxes for 2024, with potential benefits if proposed tax legislation passes [71][72]

United Rentals, Inc.’s (URI) shares gained 4% in the after-hours trading session on Jan 24 after it reported impressive fourth-quarter 2023 results. Its earnings and revenues beat the Zacks Consensus Estimate and increased on a year-over-year basis.The upside was mainly driven by sustained growth across the business, profitability and returns, underpinned by broad-based activity.Moreover, URI has provided strong guidance for 2024, given the strength of the present market condition and the multi-year tailwin ...