United Rentals, Inc. - URI STOCK NEWS

United Rentals will acquire General Finance for $19 per share, totaling approximately $996 million, including $400 million net debt. The acquisition aims to enhance United Rentals' market presence and diversify service offerings in mobile storage and modular office space. General Finance operates 106 branches across North America and Australia/New Zealand, generating $94 million adjusted EBITDA on $346 million revenue. The deal, expected to close in Q2 2021, is projected to yield $65 million in revenue synergies and $17 million in adjusted EBITDA benefits by the second year post-acquisition.

United Rentals, Inc. (NYSE: URI) has acquired Franklin Equipment, LLC, enhancing its equipment rental services in the Midwest and Southeast U.S. Founded in 2008, Franklin Equipment operates 20 locations, serving general contractors across states including Ohio and Georgia. This acquisition adds over 300 employees to United Rentals, aligning with its commitment to superior customer service. The deal expands United Rentals' market presence and builds operational synergies. Financial specifics of the transaction were not disclosed.

United Rentals (NYSE: URI) is set to hold its first quarter 2021 conference call on April 29, 2021, at 11:00 a.m. ET, featuring CEO Matt Flannery and CFO Jessica Graziano. The corresponding press release will be available after market close on April 28, 2021, on unitedrentals.com. United Rentals, the largest equipment rental company globally, operates over 1,154 rental locations across North America and Europe, employing approximately 18,250 individuals. The company offers around 4,000 classes of equipment for rent, valued at $13.78 billion.

United Rentals (NYSE: URI) will participate in the Evercore ISI 13th Annual Industrial Conference on March 2, 2021. The presentation, led by CEO Matt Flannery and CFO Jessica Graziano, is set for 4:05 p.m. ET and will be accessible via a webcast link. Additionally, an archived version of the presentation will be available on the company's website for thirty days. United Rentals operates the largest equipment rental network globally, with over 1,154 locations and around 18,250 employees, offering roughly 4,000 classes of rental equipment valued at $13.78 billion.

United Rentals (NYSE: URI) reported fourth quarter 2020 revenue of $2.279 billion, with rental revenue accounting for $1.854 billion. Fleet productivity fell 3.8% year-over-year, but improved 420 basis points sequentially. Net income was $297 million, marking a 12.1% year-over-year decrease. Adjusted EBITDA stood at $1.037 billion, representing a 45.5% margin. Looking ahead, the company expects 2021 revenue to range between $8.625 billion and $9.025 billion, anticipating growth driven by improved customer sentiment and increased capital expenditures.

United Rentals, Inc. (NYSE: URI) announces its fourth quarter and full year 2020 conference call scheduled for January 28, 2021, at 11:00 a.m. ET. CEO Matt Flannery and CFO Jessica Graziano will lead the call, where the fourth quarter results will be discussed. The press release will be available on their website following market close on January 27, 2021. With approximately 1,170 rental locations and a workforce of 18,400 employees, United Rentals is the largest equipment rental company globally, operating in 49 U.S. states and all Canadian provinces.

United Rentals (NYSE: URI) reported Q3 2020 revenue of $2.187 billion, with rental revenue at $1.861 billion. Net income fell 46.8% year-over-year to $208 million, reflecting a margin of 9.5%. Despite a decline in fleet productivity by 8.0%, it improved sequentially by 560 basis points due to better fleet absorption. The company raised its full-year guidance, projecting revenue between $8.35 billion and $8.45 billion, with adjusted EBITDA ranging from $3.825 billion to $3.875 billion. Total liquidity stood at $3.430 billion as of September 30, 2020.

United Rentals, Inc. (NYSE: URI) released its 2019 Corporate Responsibility Report, announcing a goal to reduce greenhouse gas emissions by 35% from direct operations by 2030. The report highlights achievements in workplace culture, customer service, and eco-responsibility, while addressing climate-related risks and the company’s response to COVID-19. CEO Matthew Flannery emphasized the importance of corporate responsibility for stakeholder interests. The report adheres to Global Reporting Initiative Standards and can be accessed on the company's website.

United Rentals, Inc. (NYSE: URI) will conduct its third quarter 2020 conference call on October 29, 2020, at 11:00 a.m. ET. CEO Matt Flannery and CFO Jessica Graziano will lead the discussion, with the press release available on unitedrentals.com after market close on October 28. United Rentals operates 1,169 locations in North America and 11 in Europe, employing around 18,900 people. The company offers approximately 4,000 types of equipment for rent, totaling an original cost of $14.13 billion.