STOCK TITAN

United Rentals, Inc. - URI STOCK NEWS

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.

Rhea-AI Summary

United Rentals (URI) reported record third quarter 2024 results with total revenue of $3.992 billion, including rental revenue of $3.463 billion. Net income reached $708 million with a margin of 17.7%. The company achieved GAAP diluted EPS of $10.70 and adjusted EPS of $11.80. Fleet productivity increased 3.5% year-over-year, or 1.9% excluding the Yak acquisition impact. Year-to-date, URI returned $1.451 billion to shareholders through share repurchases and dividends. The company reaffirmed its mid-point 2024 guidance while narrowing ranges for key metrics.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.1%
Tags
-
Rhea-AI Summary

United Rentals, Inc. (NYSE: URI) has introduced ProBox OnDemand, a Bluetooth-enabled automated tool tracking system designed to enhance worksite productivity and protect project profits. This innovative solution uses Bluetooth asset tracking tags affixed to tools stored in a patent-pending tool storage box, providing real-time visibility and accountability for tool usage, locations, and inventory levels.

ProBox OnDemand offers several key benefits:

  • Ensures workers have the right tools when and where needed
  • Significantly reduces worksite tool loss
  • Automates tool tracking, moving beyond ineffective manual systems
  • Manufacturer-agnostic, compatible with rental tools from any manufacturer
  • Requires PIN or RFID-connected badge for access, recording tool removal
  • Generates utilization data to help control tool spending and optimize inventories

As part of United Rentals' Worksite Performance portfolio, ProBox OnDemand aims to create connected worksites that drive safety, productivity, and sustainability objectives.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.36%
Tags
none
-
Rhea-AI Summary

United Rentals (NYSE: URI) has announced its participation in the Morgan Stanley 12th Annual Laguna Conference on September 11, 2024. The company's CEO, Matt Flannery, and CFO, Ted Grace, will deliver a presentation at 2:35 p.m. PT (5:35 p.m. ET). This event provides an opportunity for investors and analysts to gain insights into United Rentals' business strategy and financial performance.

The presentation will be accessible via a live webcast, allowing interested parties to tune in remotely. This participation in a major financial conference demonstrates United Rentals' commitment to maintaining open communication with the investment community and showcasing its market position in the equipment rental industry.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.18%
Tags
conferences
Rhea-AI Summary

Platinum Equity has sold BluRoc to Mollitiam Holdings, marking the final exit of its Yak Access investment. BluRoc, a provider of temporary and permanent access solutions, was previously part of Yak Access, which Platinum Equity sold to United Rentals (NYSE: URI) for $1.1 billion in March. The sale of BluRoc follows Platinum Equity's successful six-year ownership, during which the company navigated challenges like COVID-19 and oil market fluctuations. Jamie Moncur, BluRoc's President, expressed gratitude for Platinum Equity's support and excitement about future opportunities with Mollitiam Holdings.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
none
-
Rhea-AI Summary

United Rentals (NYSE: URI) has announced a quarterly cash dividend of $1.63 per share of common stock. The dividend is set to be paid on August 28, 2024, to shareholders of record as of the close of business on August 14, 2024. This declaration by the Board of Directors demonstrates United Rentals' commitment to returning value to its shareholders through regular dividend payments.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.37%
Tags
dividends
-
Rhea-AI Summary

United Rentals (NYSE: URI) reported record second quarter results for 2024, with total revenue of $3.773 billion and rental revenue of $3.215 billion. The company achieved net income of $636 million, a 7.6% year-over-year increase, with a margin of 16.9%. Adjusted EBITDA reached $1.769 billion, up 4.4% year-over-year, with a margin of 46.9%.

URI reaffirmed the mid-points of its 2024 guidance while narrowing the outlook ranges for revenue and adjusted EBITDA. The company reported strong performance in both general rentals and specialty rentals segments, with the latter benefiting from the Yak acquisition. Fleet productivity increased by 4.6% year-over-year, or 3.0% excluding the Yak acquisition impact.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.37%
Tags
Rhea-AI Summary

United Rentals' training arm, United Academy, celebrates its 10th anniversary as the industry's largest training program. Over the past decade, it has trained over 730,000 people with more than 100 full-time certified trainers. United Academy offers a wide range of OSHA-compliant training courses and certifications, including equipment operator certification, fall protection, and worksite safety.

Training is available through various formats: classroom, blended learning, online (eLearning and virtual), and can be completed at customer locations or at 486 participating United Rentals locations across the U.S. and Canada. Many courses are offered in English, Spanish, and French. United Academy's focus on tailoring programs to customer needs has enabled it to build unmatched training services in the industry, promoting safer and more productive worksites.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.67%
Tags
none
-
Rhea-AI Summary

United Rentals (NYSE: URI) will conduct its second quarter 2024 earnings conference call on July 25, 2024, at 8:30 a.m. ET, featuring CEO Matt Flannery and CFO Ted Grace. The live audio webcast can be accessed at unitedrentals.com, where it will remain archived until the next earnings call. Those wishing to participate can also dial in using the provided numbers. The company's Q2 2024 press release will be available on July 24, 2024, after the market close.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.99%
Tags
conferences earnings
-
Rhea-AI Summary

United Rentals (NYSE: URI) reports robust digital adoption, with over 70% of Q1 2024 revenue generated from customers using its digital tools like Total Control, United Rentals Mobile App, and online marketplace. These platforms support safety, productivity, and sustainability objectives. Telematics data, accessible via Total Control, helps customers monitor and optimize equipment usage. United Rentals leads the industry with 375,000 telematics-enabled units. Recent digital enhancements include improved payment management, customized notifications, availability info, equipment access management, and order history access, streamlining the rental process.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.32%
Tags
none
Rhea-AI Summary

United Rentals, Inc. (NYSE: URI) has been selected for Newsweek's Most Trustworthy Companies in America 2024 list for the third consecutive year. The recognition highlights the company's strong commitment to trust and transparency in its business operations. The evaluation criteria included customer, investor, and employee trust, with United Rentals standing out for its ethical governance and conduct.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.27%
Tags
none

FAQ

What is the current stock price of United Rentals (URI)?

The current stock price of United Rentals (URI) is $875.01 as of November 8, 2024.

What is the market cap of United Rentals (URI)?

The market cap of United Rentals (URI) is approximately 57.4B.

What is United Rentals, Inc.?

United Rentals, Inc. (NYSE: URI) is the largest equipment rental company in North America, serving a variety of clients including construction and industrial firms, municipalities, and homeowners.

Where does United Rentals operate?

United Rentals operates over 880 locations across the United States and Canada.

What types of equipment does United Rentals offer?

United Rentals provides a wide range of equipment including aerial lifts, portable generators, and specialty equipment available for indefinite rental periods.

What recent acquisitions has United Rentals made?

United Rentals recently announced the acquisition of Yak Access, LLC for approximately $1.1 billion, expanding its offerings in surface protection for construction and maintenance applications.

How large is United Rentals' fleet?

United Rentals' fleet is valued at approximately $21 billion.

What additional services does United Rentals provide?

Beyond equipment rental, United Rentals offers specialty solutions, safety training, and 24/7 support.

What market share does United Rentals hold?

United Rentals holds approximately 17% of the equipment rental market in North America.

How can I stay updated on United Rentals news?

You can follow United Rentals on their social media platforms such as Twitter, Facebook, Google+, and YouTube.

When was United Rentals founded?

United Rentals was founded in 1997.

What types of clients does United Rentals serve?

United Rentals serves construction and industrial companies, utilities, municipalities, homeowners, and communities.

United Rentals, Inc.

NYSE:URI

URI Rankings

URI Stock Data

57.39B
65.62M
0.49%
94.45%
3.57%
Rental & Leasing Services
Services-equipment Rental & Leasing, Nec
Link
United States of America
STAMFORD