The earnings call reflected a strong financial performance with several record-breaking metrics, particularly in revenue, EBITDA, and EPS. Specialty segment growth and innovations in telematics and tool tracking systems were notable achievements. However, the company faced challenges in the normalization of the used equipment market and cost pressures. Despite these challenges, the overall outlook remains positive with confidence in future growth.

Company Guidance

During the Q3 2024 earnings call, United Rentals provided updated guidance, reflecting confidence in sustaining growth and profitability through year-end and into 2025. The company achieved a 6% year-over-year increase in total revenue, reaching nearly $4 billion, with rental revenue climbing over 7% to $3.5 billion. Fleet productivity rose by 3.5%, and adjusted EBITDA reached a record $1.9 billion, representing a margin of almost 48%. Adjusted EPS also set a record at $11.80. Specialty rental revenue grew significantly by 24%, buoyed by the Yak acquisition, and free cash flow surpassed $1.2 billion year-to-date. United Rentals maintained the midpoint of its guidance for revenue, EBITDA, and gross rental CapEx, with expectations for total revenue in the range of $15.1 billion to $15.3 billion for the full year. The company anticipates returning nearly $2 billion to shareholders in 2024, leveraging its strong balance sheet and ongoing investments in technology to optimize operations and sustain shareholder value.

Record-Breaking Quarter

Total revenue grew by 6% year-over-year to almost $4 billion, with rental revenue increasing by over 7% to $3.5 billion, both third quarter records.

Specialty Segment Growth

Specialty rental revenue grew by 24% year-over-year, with a strong 15% increase even excluding the Yak acquisition.

Strong Financial Performance

Adjusted EBITDA reached a third quarter record of $1.9 billion with a margin of almost 48%, and adjusted EPS grew to $11.80, another third quarter record.

Robust Free Cash Flow and Shareholder Returns

Year-to-date free cash flow is over $1.2 billion, with nearly $500 million returned to shareholders in the quarter via share buybacks and dividends.

Investment in Innovation

Investments in next-generation telematics and ProBox OnDemand to enhance efficiency and customer service.

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United Rentals (URI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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URI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 18, 2018	2018 (Q2)	- / 3.85	2.37	62.45% (+1.48)	―	―
Oct 17, 2018	2018 (Q3)	- / 4.74	3.25	45.85% (+1.49)	―	―
Jan 23, 2019	2018 (Q4)	- / 4.85	3.34	45.21% (+1.51)	―	―
Apr 17, 2019	2019 (Q1)	- / 3.31	2.87	15.33% (+0.44)	―	―
Jul 17, 2019	2019 (Q2)	- / 4.74	3.85	23.12% (+0.89)	―	―
Oct 16, 2019	2019 (Q3)	- / 5.96	4.74	25.74% (+1.22)	―	―
Jan 29, 2020	2019 (Q4)	- / 5.60	4.85	15.46% (+0.75)	―	―
Apr 29, 2020	2020 (Q1)	- / 3.35	3.31	1.21% (+0.04)	―	―
Jul 29, 2020	2020 (Q2)	- / 3.68	4.74	-22.36% (-1.06)	―	―
Oct 28, 2020	2020 (Q3)	- / 5.40	5.96	-9.40% (-0.56)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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URI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 23, 2024	$832.61	$823.44	-1.10%
Jul 24, 2024	$712.82	$751.10	+5.37%
Apr 24, 2024	$650.89	$686.38	+5.45%
Jan 24, 2024	$571.70	$645.77	+12.96%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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