United Rentals Inc

Latest Results (17.12.2024):

Revenue Growth

In the third quarter of 2024, United Rentals Inc. reported a total revenue of $3.992 billion, marking a significant achievement for the company. This includes a rental revenue of $3.463 billion, which represents a 7.4% increase year-over-year. The growth in rental revenue was driven by strong performance across both construction and industrial end-markets.

Net Income and Earnings

United Rentals Inc. achieved a net income of $708 million for the third quarter of 2024, setting a new record for the company. This resulted in a net income margin of 17.7%. The GAAP diluted earnings per share were reported at $10.70, while the adjusted earnings per share stood at $11.80, reflecting the company's robust financial performance.

Adjusted EBITDA

The company's adjusted EBITDA for the third quarter of 2024 reached $1.904 billion, another record figure for United Rentals Inc. However, the adjusted EBITDA margin saw a slight decrease to 47.7%, primarily due to increased SG&A expenses and a decrease in adjusted gross margin from used equipment sales.

Cash Flow and Capital Expenditures

Year-to-date net cash provided by operating activities was $3.498 billion, with free cash flow amounting to $1.211 billion. United Rentals Inc. reported gross rental capital expenditures of $3.287 billion for the same period. The company also returned $1.451 billion to shareholders through share repurchases and dividends.

2024 Outlook

United Rentals Inc. reaffirmed the mid-points of its 2024 financial guidance, narrowing the outlook ranges for revenue, adjusted EBITDA, rental capital expenditures, and net cash provided by operating activities. The company expects total revenue to be between $15.10 billion and $15.30 billion, with adjusted EBITDA ranging from $7.115 billion to $7.215 billion, reflecting confidence in its strategic direction and market position.