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, Inc. (NYSE: URI) has appointed Ted Grace as executive vice president and chief financial officer, effective November 3, 2022. Mr. Grace has served as interim CFO since July 29, 2022 and has held key roles in finance and investor relations since 2016. CEO Matthew Flannery expressed confidence in Grace's expertise and leadership ability, emphasizing his understanding of the company's financial strategies. United Rentals is the largest equipment rental company globally, with a vast network of rental locations and a diverse equipment inventory worth approximately $17.43 billion.
United Rentals, Inc. (NYSE: URI) has partnered with Shell to provide all-electric trucks for a pilot program at Shell's Geismar, Louisiana chemical manufacturing site. This initiative aims to support maintenance operations while evaluating electric vehicle usage and infrastructure for low-carbon fleet strategies. The program features Ford F-150 Lightning trucks and assesses various operational factors, contributing to Shell's goal of reducing greenhouse gas emissions. United Rentals aims to leverage findings to implement emissions-saving solutions at other industrial sites.
United Rentals (URI) reported a strong third quarter 2022, with total revenue reaching $3.051 billion, driven by rental revenue of $2.732 billion, marking a 20% year-over-year increase. Net income surged 48.2% to $606 million, and adjusted EBITDA rose 23.4% to $1.521 billion. The company also raised its full-year revenue guidance to $11.5 billion to $11.7 billion and announced a new $1.25 billion share repurchase program. With a strong liquidity position of $2.843 billion and a low net leverage ratio of 1.9x, URI is poised for continued growth.
United Rentals (NYSE: URI) is enhancing its North American rental fleet by adding hydrogen power generators, offering a zero-emissions power solution for electric vehicles and tools. The EODev GEH2 fuel cell generators provide instant power up to 110 kVA while producing no harmful emissions. The generators will be deployed in late 2022 and throughout 2023. This move supports sustainability goals, including a target to reduce greenhouse gas emissions intensity by 35% by 2030 from 2018 levels.
United Rentals, Inc. (NYSE: URI) will announce its third quarter 2022 results on October 26, 2022, after market close. A conference call is scheduled for October 27, 2022, at 11:00 a.m. ET, featuring CEO Matt Flannery and interim CFO Ted Grace. The call will be accessible via audio webcast and archived on their website. United Rentals, the world's largest equipment rental company, operates over 1,331 locations and offers approximately 4,400 classes of rental equipment with a total original cost of $16.57 billion.
United Rentals, Inc. (NYSE: URI) has appointed Francisco J. Lopez-Balboa to its board of directors, expanding the board to 11 members with nine independent directors. His extensive background in finance and operational leadership is expected to bring valuable insights to the company's growth strategy. Lopez-Balboa has over 30 years of experience, including roles as CFO at Cumulus Media and Univision Communications, and a long tenure at Goldman Sachs. He holds an MBA from Harvard and a bachelor’s in economics from Columbia.
United Rentals has announced a new partnership to purchase JCB's HTD-5E E-Dumpsters, the first high-volume fully electric dumpsters in the equipment rental industry. This move positions United Rentals as a leader in sustainable construction practices, providing low-emission equipment to North American customers. The HTD-5E can carry up to 1,102 lbs and operates on a lithium-ion battery for a full day. United Rentals aims to reduce greenhouse gas emissions intensity by 35% by 2030.
United Rentals reported strong financial results for Q2 2022, with total revenue reaching $2.771 billion and a net income of $493 million, marking a year-over-year increase of 68.3%. The company raised its full-year revenue guidance to $11.4 billion to $11.7 billion and adjusted EBITDA to $5.4 billion to $5.55 billion. Fleet productivity improved by 11.3%, and free cash flow stood at $964 million. The company achieved a net leverage ratio of 2.0x and has $2.83 billion in liquidity as of June 30, 2022.
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