Welcome to our dedicated page for United Rentals news (Ticker: URI), a resource for investors and traders seeking the latest updates and insights on United Rentals stock.
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 (URI) reported strong fourth-quarter and full-year 2022 results, including total revenue of $3.296 billion and net income of $639 million, marking a year-over-year revenue growth of 18.8%. The company initiated a $1.48 per share quarterly dividend, yielding approximately 1.5%, and plans to repurchase $1 billion in stock in 2023. For 2023, URI expects revenue between $13.7 billion and $14.2 billion and adjusted EBITDA between $6.6 billion and $6.85 billion. The CEO emphasized the integration of Ahern Rentals and the company's robust cash flow, projecting to return $1.4 billion to shareholders this year, underscoring a commitment to long-term value creation.
United Rentals, Inc. (NYSE: URI) has been named a Glassdoor Employees’ Choice Award winner, recognized as one of the Best Places to Work in 2023. This award is unique as it relies solely on anonymous employee feedback collected from October 2021 to October 2022. The selection process considers various workplace attributes, including company rating and career opportunities. The organization's commitment to workforce development, safety, and diversity has been highlighted, as it also maintains an award-winning safety program.
United Rentals, Inc. (NYSE: URI) will host its fourth quarter and full year 2022 conference call on January 26, 2023, at 11:00 a.m. ET. The call will feature CEO Matt Flannery and CFO Ted Grace. The press release will be available after market close on January 25, 2023, on unitedrentals.com. United Rentals is the world's largest equipment rental company, operating 1,449 locations globally, with a workforce of approximately 24,700 employees and over 4,700 equipment classes, amounting to an original cost of $19.3 billion.
United Rentals, Inc. (URI) has completed the acquisition of Ahern Rentals, Inc. for $2.0 billion in cash. This strategic move adds approximately 2,100 employees, 60,000 rental assets, and 106 locations to URI's operations across the United States. The acquisition aims to enhance URI's specialty rental solutions and expand its customer base in the construction and industrial sectors. The deal was financed through senior secured notes and existing capacity from URI's ABL facility. URI plans to issue its 2023 guidance in January, reflecting the acquisition's full benefits.
United Rentals, Inc. (NYSE: URI) has updated its online rental catalog to include emissions level information for all equipment. This feature allows customers to filter equipment based on their jobsite requirements and sustainability goals. The catalog categorizes emissions into four groups: Zero Emissions, Low Emissions, Lower Diesel Emissions, and Standard Emissions, making it easier for companies to understand the environmental impact of their choices. This initiative reflects United Rentals' commitment to helping customers create lower-emission worksites.
United Rentals, Inc. (NYSE: URI) announced that its subsidiary, United Rentals (North America), Inc. (URNA), has priced a private offering of $1.5 billion principal amount of 6.00% Senior Secured Notes due 2029. The net proceeds of approximately $1.486 billion will be utilized to finance the acquisition of assets from Ahern Rentals, Inc. and Xtreme Re-Rental, LLC related to equipment rentals and sales. The offering is subject to certain exemptions under the Securities Act of 1933 and involves certain risks, including potential integration challenges and regulatory approvals.
United Rentals, Inc. (NYSE: URI) announced a private offering of $1.5 billion in Senior Secured Notes due 2029, managed by its subsidiary, URNA. The net proceeds, approximately $1.486 billion after fees, will fund the acquisition of Ahern Rentals, Inc. and Xtreme Re-Rental, LLC assets related to equipment rental and sales in the U.S. The offering is exempt under the Securities Act, targeted at qualified institutional buyers. This acquisition is subject to typical regulatory risks, with no assurance of completion.
United Rentals, Inc. (NYSE: URI) has agreed to acquire Ahern Rentals, Inc. for approximately $2.0 billion in cash to boost scale and capacity. The acquisition, approved by United Rentals' board, is set to close by year-end 2022 pending customary conditions. Ahern Rentals, the eighth largest equipment rental firm in North America, generated $310 million in adjusted EBITDA from $887 million in revenues as of September 2022. This strategic move aims to enhance customer services and achieve operational synergies.
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