Revenue Performance - Total revenues for Q1 2025 increased to $3,719 million, up 6.7% from $3,485 million in Q1 2024[20] - Equipment rentals revenue rose to $3,145 million, a 7.4% increase compared to $2,929 million in the same period last year[20] - For the three months ended March 31, 2025, total revenues were $3,719 million, an increase from $3,485 million in the same period of 2024, representing a growth of approximately 6.7%[44] - Total revenue for the three months ended March 31, 2025, was $3,719 million, an increase from $3,485 million for the same period in 2024, representing a growth of 6.7%[85] - Equipment rentals increased by $216 million, or 7.4%, primarily due to a 3.1% increase in fleet productivity and a 3.3% increase in average OEC[132] - Specialty equipment rentals increased by $187 million, or 21.8%, primarily due to the impact of the Yak acquisition[140] Profitability Metrics - Net income for Q1 2025 was $518 million, a decrease of 4.4% from $542 million in Q1 2024[22] - Basic earnings per share for Q1 2025 were $7.92, down from $8.06 in Q1 2024[20] - For the three months ended March 31, 2025, net income decreased by $24 million, or 4.4%, to $518 million, with a net income margin of 13.9%[125] - Adjusted EBITDA for the same period increased by $84 million, or 5.3%, to $1.671 billion, with an adjusted EBITDA margin of 44.9%[126] - The company reported a comprehensive income of $539 million for Q1 2025, compared to $491 million in Q1 2024[22] Asset and Liability Management - Total assets decreased to $28,050 million as of March 31, 2025, from $28,163 million at the end of 2024[17] - Total liabilities decreased to $19,261 million as of March 31, 2025, compared to $19,541 million at December 31, 2024[17] - Total debt as of March 31, 2025, was $12.922 billion, a decrease from $13.406 billion as of December 31, 2024[99] - Cash and cash equivalents increased to $542 million at the end of Q1 2025, up from $457 million at the end of 2024[17] - Available liquidity as of March 31, 2025, was $3.345 billion, including cash and cash equivalents and availability under credit facilities[112] Operational Efficiency - The company is focused on improving profitability through revenue growth, margin expansion, and operational efficiencies[111] - Fleet productivity metrics are being utilized to optimize rental rates, time utilization, and mix to drive rental revenue, reflecting the effectiveness of management decisions[127] - The company continues to pursue strategic acquisitions to expand its core equipment rental business, as evidenced by the acquisition of Yak Access, LLC and others in March 2024[118] Shareholder Returns - The company declared dividends of $1.79 per share in Q1 2025, compared to $1.63 per share in Q1 2024[28] - The company paid dividends of $118 million ($1.79 per share) for the three months ended March 31, 2025, compared to $110 million ($1.63 per share) in the same period of 2024[114] - In January 2024, the Board of Directors authorized a $1.5 billion share repurchase program, with plans to complete $1.5 billion of repurchases in 2025, carrying $250 million into 2026[113] - A new $1.5 billion share repurchase program was authorized on April 23, 2025, with plans to repurchase $1.25 billion in 2025[192] Accounting and Compliance - New Accounting Standards (ASU 2023-09 and ASU 2024-03) will impact income tax disclosures and expense categorization, effective for fiscal years beginning after December 15, 2024, and December 15, 2026, respectively[38][39] - The company does not recognize any assets associated with the incremental costs of obtaining a contract with a customer, expensing them when incurred if the amortization period is one year or less[73] - The company’s revenue recognition does not include material amounts of variable consideration, and most revenue is recognized at a point-in-time upon delivery or pick-up by the customer[80] - The company was in compliance with all covenants and provisions of its debt agreements as of March 31, 2025[165] - There were no changes in internal control over financial reporting that materially affected the company during the quarter ended March 31, 2025[187] - The company maintains effective disclosure controls and procedures as of March 31, 2025, ensuring timely and accurate reporting[186]

Core Viewpoint - United Rentals, Inc. is expected to report its first-quarter 2025 results on April 23, with adjusted earnings per share (EPS) anticipated to decrease from the previous year, while revenues are projected to show modest growth driven by infrastructure demand [1][2][4]. Revenue Expectations - The Zacks Consensus Estimate for first-quarter adjusted earnings is $8.90 per share, reflecting a 2.7% decrease from $9.15 per share in the same quarter last year [2]. - Revenue is projected at $3.57 billion, indicating a 2.6% growth compared to the prior-year quarter [3]. - Revenue growth is expected to be supported by ongoing demand from large infrastructure projects, including data centers, semiconductor manufacturing, and energy infrastructure [4]. Segment Performance - General Rentals, which contributed 70.7% to total revenues in 2024, is expected to see a slight revenue decline of 0.4% to $2.54 billion, while Specialty Rentals are projected to increase by 11.8% to $1.05 billion year-over-year [6]. - Equipment Rentals, accounting for 83.6% of total revenues in the last quarter, is expected to grow by 3.9% to $3.04 billion [7][8]. Earnings and Margins - Despite revenue growth, margin pressures are anticipated due to a higher proportion of lower-margin revenue sources and investments in growth initiatives [9]. - Adjusted EBITDA is expected to grow by 1.1% year-over-year to $1.6 billion, but the adjusted EBITDA margin is projected to decline by 70 basis points to 44.8% [10][11]. Earnings Prediction - The model does not predict an earnings beat for United Rentals, with an Earnings ESP of -1.11% and a Zacks Rank of 3 (Hold) [12].

Wall Street analysts expect United Rentals (URI) to post quarterly earnings of $8.91 per share in its upcoming report, which indicates a year-over-year decline of 2.6%. Revenues are expected to be $3.57 billion, up 2.6% from the year-ago quarter.The current level reflects a downward revision of 1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a compan ...

United Rentals (URI) shares soared 10.7% in the last trading session to close at $611.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.1% loss over the past four weeks.Following President Trump's announcement to suspend U.S. tariffs on most countries for 90 days, United Rentals shares soared, reflecting renewed investor optimism.This equipment rental company is expected to post quarterly earnings of $8.92 per share in its up ...

Group 1 - United Rentals (NYSE: URI) announced it will not increase its offer for H&E Equipment Services (HESS), indicating a disciplined capital allocation strategy that is viewed positively for its shareholders [1] Group 2 - Tomas Riba, an economist and former CFO, focuses on investing in high-quality companies with strong competitive advantages, operating in growing industries, and exhibiting expanding margins and low debt [2]

Group 1 - United Rentals, Inc. is positioned to benefit from a strong pipeline of mega-projects, with high demand in data centers, manufacturing, power, and construction markets [1] - The demand is driven by secular trends, particularly the reshoring of manufacturing [1] Group 2 - The company is expected to leverage its strengths in various sectors to capitalize on growth opportunities [1]

Core Viewpoint - United Rentals, Inc. (URI) reported mixed fourth-quarter 2024 results, with earnings per share (EPS) missing estimates while revenues exceeded expectations, both showing year-over-year improvement [1][4]. Financial Performance - Adjusted EPS for the fourth quarter was $11.59, missing the Zacks Consensus Estimate of $11.77 by 1.5%, but increased 2.9% from the prior year's adjusted figure of $11.26 [4]. - Total revenues reached $4.095 billion, surpassing the consensus mark of $3.942 billion by 3.9%, and grew 9.8% year-over-year [4]. - For the full year, total revenues were $15.345 billion, up 7.1%, and adjusted earnings were $43.17 per share, reflecting a 6% increase from 2023 [11]. Segment Performance - Equipment Rentals revenues increased 9.7% year-over-year to $3.422 billion, marking a record high for the fourth quarter [5]. - General Rentals segment saw a 2.2% year-over-year growth in rental revenues to $2.339 billion, with rental gross margin contracting 170 basis points to 37.4% [7]. - Specialty segment rental revenues improved 30.5% year-over-year to $1.083 billion, with a gross margin contraction of 170 basis points to 45.5% [8]. Margins and EBITDA - Total equipment rentals' gross margin contracted 130 basis points year-over-year to 40% [9]. - Adjusted EBITDA for the reported period grew 5% year-over-year to $1.9 billion, with an adjusted EBITDA margin contracting 210 basis points to 46.4% [9]. Cash Flow and Shareholder Returns - Net cash from operating activities decreased 3.4% year-over-year to $4.546 billion, while free cash flow fell 10.8% to $2.065 billion [13]. - The company returned $1.934 billion to shareholders in 2024, including $1.5 billion through share repurchases and $434 million in dividends [13]. - A 10% increase in the quarterly dividend was approved, with a declared dividend of $1.79 per share [13]. 2025 Guidance - Total revenues for 2025 are expected to be in the range of $15.1-$15.3 billion, with adjusted EBITDA anticipated between $7.115 billion and $7.215 billion [14]. - Net rental capital expenditure is projected to be between $2.2-$2.5 billion [14].

Fourth Quarter – Full Year 2024 Investor Presentation © 2023 United Rentals, Inc. All rights reserved. I 1 Introductory information Unless otherwise specified, the information in this presentation, including forward-looking statements, is as of our most recent earnings call held on January 30, 2025. 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 Exc ...

Core Insights - United Rentals (URI) reported revenue of $4.1 billion for the quarter ended December 2024, reflecting a year-over-year increase of 9.8% [1] - The earnings per share (EPS) for the quarter was $11.59, up from $11.26 in the same quarter last year, although it fell short of the consensus estimate of $11.77 by 1.53% [1] - The reported revenue exceeded the Zacks Consensus Estimate of $3.94 billion, resulting in a positive surprise of 3.89% [1] Revenue Breakdown - Equipment rentals generated $3.42 billion, surpassing the six-analyst average estimate of $3.34 billion, with a year-over-year increase of 9.7% [4] - Service and other revenues amounted to $86 million, slightly above the average estimate of $84.13 million, marking a 3.6% year-over-year change [4] - Contractor supplies sales reached $39 million, exceeding the average estimate of $37.72 million, representing an 8.3% increase year over year [4] - Sales of new equipment were reported at $96 million, significantly higher than the average estimate of $56.41 million, showing an impressive year-over-year growth of 84.6% [4] - Sales of rental equipment totaled $452 million, above the average estimate of $422.76 million, with a year-over-year increase of 3.2% [4] - Specialty contractor supplies sales were $17 million, exceeding the estimated $15.49 million, reflecting a 21.4% year-over-year change [4] - Specialty equipment rentals generated $1.08 billion, surpassing the average estimate of $1.01 billion, with a year-over-year increase of 30.5% [4] - Specialty sales of new equipment reached $29 million, above the average estimate of $26.34 million, marking a 26.1% year-over-year increase [4] - Specialty sales of rental equipment were $57 million, exceeding the average estimate of $45.20 million, with a year-over-year growth of 46.2% [4] - Specialty service and other revenues were reported at $8 million, slightly above the estimated $7.48 million, but showing an 11.1% decrease year over year [4] - General rentals generated $2.90 billion, surpassing the two-analyst average estimate of $2.81 billion, with a year-over-year increase of 3.1% [4] - General rentals service and other revenues were $78 million, exceeding the average estimate of $65.25 million, reflecting a 5.4% year-over-year change [4] Stock Performance - United Rentals shares have returned +8.9% over the past month, outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - United Rentals reported quarterly earnings of $11.59 per share, missing the Zacks Consensus Estimate of $11.77 per share, but showing an increase from $11.26 per share a year ago, indicating a -1.53% earnings surprise [1] Financial Performance - The company posted revenues of $4.1 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.89%, compared to year-ago revenues of $3.73 billion [2] - Over the last four quarters, United Rentals has exceeded consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - United Rentals shares have increased approximately 8.9% since the beginning of the year, outperforming the S&P 500's gain of 3.2% [3] Future Outlook - The company's earnings outlook is crucial for investors, including current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $9.22 on revenues of $3.59 billion, and for the current fiscal year, it is $46.06 on revenues of $15.76 billion [7] Industry Context - The Building Products - Miscellaneous industry, to which United Rentals belongs, is currently ranked in the bottom 31% of over 250 Zacks industries, which may impact stock performance [8]