United Rentals, Inc. - URI STOCK NEWS

United Rentals, Inc. (NYSE: URI) reported robust first quarter results for 2023, highlighting a total revenue of $3.285 billion, including $2.740 billion from rental revenue. Net income surged 22.9% year-over-year to $451 million, with a net income margin of 13.7%. The company achieved GAAP diluted earnings per share of $6.47 and an adjusted EPS of $7.95. Adjusted EBITDA reached a record $1.503 billion, representing a 32.0% year-over-year growth. United Rentals reaffirmed its full-year 2023 guidance, projecting total revenue between $13.7 billion and $14.2 billion. The positive momentum is supported by increasing demand across various sectors, alongside successful integration of recent acquisitions.

United Rentals has launched four new employee resource groups (ERGs) aimed at fostering diversity and inclusion within the company. These groups are: Hispanic and Latin Advancement United (HOLA), LGBTQIA+ United, Mental Wellness United, and African and Black Heritage United. Each ERG focuses on specific community needs, with initiatives ranging from cultural awareness and mental health support to leadership development. According to Monica Rodriguez, the director of diversity, equity, and inclusion, these ERGs will help employees feel valued and respected, enhancing workplace morale. The new ERGs are a step towards a more inclusive workplace, as the company believes that diversity contributes to a positive impact on customers and communities.

United Rentals, Inc. (NYSE:URI) has expanded its equipment rental fleet by adding JuiceBox mobile power generators. These generators provide a low-emissions alternative to traditional diesel machines, using propane or natural gas, which results in 40% lower operating costs and 17% reduced greenhouse gas emissions. With a compact design delivering instant power up to 20 kilowatts (kW), JuiceBox generators can be customized for various applications, including construction sites and emergency response. These generators join an extensive portfolio of environmentally friendly equipment, supporting the company’s commitment to sustainability. Dan Gribbell, Regional Sales and Marketing Director, emphasized that this addition helps customers meet stricter diesel emissions regulations while enabling cost-effective and environmentally conscious operations.

United Rentals emphasizes the importance of the 5S certification for rental providers in enhancing operational efficiency and safety. This certification reflects a commitment to providing a superior customer experience, ensuring well-maintained rental equipment, and potentially impacting rental pricing. The 5S methodology forms part of United Rentals' 'safety first and always' culture, which is ingrained in all employees. By adhering to 5S principles, the company aims to improve both safety and efficiency in its operations, benefiting employees and customers alike.

United Rentals, Inc. (NYSE: URI) has added JuiceBox generators to its rental fleet, offering low-emission mobile power solutions. These generators, powered by propane or natural gas, promise significant operational cost reductions—up to 40% less than diesel generators—and lower greenhouse gas emissions by 17%. With dimensions of 50" x 50" x 54" and a power output of 20 kW, JuiceBox generators are ideal for various settings including construction sites, emergency services, and entertainment events.

Equipped with customizable electrical panels, they operate quietly and contribute to environmentally-friendly practices, enhancing United Rentals' portfolio of low- and zero-emission equipment. This strategic addition aligns with the growing demand for cleaner energy solutions amidst tightening diesel regulations.

United Rentals, Inc. (NYSE: URI) will host its first quarter 2023 earnings conference call on April 27, 2023, at 11:00 a.m. ET. CEO Matt Flannery and CFO Ted Grace will lead the call. A press release detailing financial results will be available on the company's website after market close on April 26, 2023. The conference call will also be accessible via audio webcast and will be archived on unitedrentals.com for future reference. The company operates the world's largest equipment rental network, with 1,462 locations across North America, Europe, Australia, and New Zealand, serving a diverse clientele, including construction and industrial customers. United Rentals offers approximately 4,600 classes of equipment for rent, with a total original cost of $19.61 billion.