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United Rentals, Inc. (NYSE: URI) is North America's largest equipment rental company, with over 880 stores across the United States and Canada. The company caters to a diverse clientele, including construction and industrial firms, municipal entities, utilities, homeowners, and communities. Their aim is to meet customer needs while exceeding expectations through their extensive rental fleet and specialized solutions.
Since its inception in 1997, United Rentals has expanded through organic growth and numerous acquisitions, establishing itself as a market leader with a fleet valued at $21 billion. Initially focusing on intermittently used equipment like aerial lifts and generators, the company’s offerings now include a wide array of specialty equipment available for indefinite rental periods.
One of the company's notable recent achievements is the acquisition of Yak Access, LLC, a leader in the North American matting industry, for approximately $1.1 billion. This move, expected to close in the first quarter of 2024, will bolster United Rentals' offerings in surface protection for construction and maintenance applications. Yak's fleet includes approximately 600,000 mats, serving primarily utility and midstream clients.
United Rentals prides itself on being more than just an equipment provider. They offer best-in-class specialty solutions, safety training, and 24/7 support to ensure customer success. This dedication to service is paralleled by their continued investment in digital tools and R&D to enhance customer experience and product longevity.
With a roughly 17% market share in a fragmented sector, United Rentals stands out not only for its scale but also for its commitment to safety, operational excellence, and strong customer relationships. The company is consistently adapting to market demands, as demonstrated by its strategic acquisitions and tailored service offerings.
For more updates, follow United Rentals on their social media platforms: Twitter, Facebook, Google+, and YouTube.
United Rentals, Inc. (NYSE: URI) posted its third-quarter 2021 results, reporting a total revenue of $2.596 billion, with rental revenue of $2.277 billion—an increase of 22.4% year-over-year. The company raised its full-year guidance for total revenue and adjusted EBITDA. Despite a reduction in free cash flow projections to $1.45 billion to $1.65 billion, net income surged by 96.6% to $409 million, reflecting a net income margin of 15.8%. Adjusted EBITDA was $1.233 billion, a 14.1% increase from last year, with a margin of 47.5%. Fleet productivity also improved by 13.5% year-over-year.
United Rentals, Inc. (NYSE: URI) released its ninth Corporate Responsibility Report, showcasing achievements in 2020 and plans for 2021. Key points include a commitment to reduce greenhouse gas emissions by 35% by 2030 and a consistent U.S. safety incident rate below 1.0. The company has shifted towards low- and zero-emission equipment, with electric or hybrid units comprising 20% of its fleet. CEO Matthew Flannery emphasized resilience amidst challenges. United Rentals was recognized as one of America's Most Responsible Companies for 2021 by Newsweek, marking its second consecutive year on the list.
United Rentals, Inc. (NYSE: URI) will conduct its third quarter 2021 conference call on October 28, 2021, at 11:00 a.m. ET. CEO Matt Flannery and CFO Jessica Graziano will lead the discussion. The press release will be distributed after market close on October 27, 2021, and will be available on unitedrentals.com. United Rentals is the largest equipment rental company globally, operating from 1,275 locations across North America, Europe, Australia, and New Zealand, with approximately 19,900 employees and a total equipment cost of $15.06 billion.
United Rentals (NYSE: URI) announced its subsidiary, URNA, will redeem all of its $1.0 billion principal amount of 5.875% Senior Notes due 2026 on September 15, 2021. The redemption price is set at 102.938% of the principal amount plus accrued interest. URNA will use borrowings from its senior secured asset-based revolving credit facility for this redemption. The process is dependent on the availability of funds under this facility, which could delay the redemption if conditions are not met.
United Rentals, Inc. (NYSE: URI) has appointed Larry De Shon to its board of directors, increasing the board size to 12 members, with 10 independent directors. De Shon brings over 40 years of experience in transportation services, including a tenure as CEO of Avis Budget Group. His diverse background is expected to align with United Rentals' strategy of delivering critical service-intensive solutions across various customer markets. Chairman Michael Kneeland emphasized De Shon's innovative thinking as a valuable asset to the company.
United Rentals (NYSE: URI) has announced its subsidiary, URNA, priced $750 million of 3.750% Senior Notes due 2032 in a public offering. The net proceeds of approximately $743 million will be utilized to redeem $1 billion of its 5⅞% Senior Notes due 2026 and reduce borrowings under its ABL Facility. These notes rank equally with existing senior debts but are junior to secured debts. The offering is managed by leading financial institutions, including Morgan Stanley and BofA Securities.
United Rentals (NYSE: URI) announced a public offering of $750 million in Senior Notes due 2032 through its subsidiary, URNA. The Notes will rank equally with URNA’s existing senior debts and senior to subordinated debts, guaranteed by URI. The estimated net proceeds are $743 million, intended to redeem $1 billion of 5⅞% Senior Notes due 2026 and reduce borrowings under their ABL Facility. The offering is managed by major financial institutions, including Morgan Stanley and BofA Securities. This announcement does not constitute an offer or sale of securities in jurisdictions where it would be unlawful.
United Rentals (NYSE: URI) reported Q2 2021 results with total revenue of $2.287 billion and rental revenue of $1.951 billion, marking an 18.8% year-over-year increase. Net income rose 38.2% to $293 million, with an adjusted EBITDA of $999 million. The company raised its full-year 2021 guidance, forecasting total revenue between $9.45 billion and $9.75 billion, largely due to recent acquisitions. Fleet productivity improved by 17.8% year-over-year, indicating strong operational efficiency.
United Rentals, Inc. (NYSE: URI) will conduct its second quarter 2021 conference call on July 29, 2021, at 11:00 a.m. ET, featuring CEO Matt Flannery and CFO Jessica Graziano. The earnings press release will be available on unitedrentals.com after market close on July 28, 2021. Investors can also access an audio webcast of the call, which will be archived on the website. As the largest equipment rental company globally, United Rentals operates 1,156 locations across North America and Europe, offering around 4,000 types of equipment for rent.
United Rentals, Inc. (NYSE: URI) has completed its acquisition of General Finance Corporation (NASDAQ: GFN). The deal, valued at $19.00 per share, enhances United Rentals' growth capacity by adding mobile storage and modular office solutions, along with over 900 employees. CEO Matthew Flannery expressed optimism about the strategic merits of the acquisition, aligning with increasing market demand. Financial results reflecting the merger will be reported in July. Following the merger, General Finance's common stock will be delisted from NASDAQ.
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