Welcome to our dedicated page for United Rental news (Ticker: URI), a resource for investors and traders seeking the latest updates and insights on United Rental stock.
United Rentals, Inc. (NYSE: URI) is described in its public communications as the largest equipment rental company in the world, with an integrated network of rental locations across North America, Europe, Australia and New Zealand. This news page aggregates company announcements, press releases and other updates related to URI, giving readers a single place to review the latest information the company has chosen to disclose.
Visitors can expect news items that cover a range of topics important to understanding United Rentals’ business. Recent releases include details on quarterly financial results and outlook, such as rental revenue performance, fleet productivity, adjusted EBITDA and free cash flow, as well as information on capital allocation, dividends and share repurchase programs. The company also issues news on financing activities, including private offerings of senior notes, planned redemptions of existing notes and amendments to its senior secured asset-based revolving credit facility.
United Rentals uses its news releases to highlight developments in digital tools and technology, such as Smart Suggestions, Equipment Fit Augmented Reality and the Manual Assist AI application built with Amazon Web Services. Additional announcements describe safety and training initiatives, including the Confined Space Safety Training for Competent Persons Program offered through United Academy and trench safety services that support confined space and excavation work.
By reviewing the URI news feed, investors and other interested readers can see how United Rentals presents its operations, innovation strategy, financing decisions and safety programs over time. This page can be revisited to read new earnings releases, capital markets updates, product and technology launches, and training or safety-related announcements as they are issued by the company.
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.
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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.
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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.
United Rentals, Inc. (NYSE: URI) released its tenth Corporate Responsibility Report, showcasing achievements in 2021 under the theme 'Work United™: Building a Sustainable Future Together.' Key highlights include a 17% reduction in U.S. OSHA recordable incidents, diverse employees occupying 31.3% of sales and management roles, and spending around $1 billion with diverse suppliers. Furthermore, 2022 commitments encompass purchasing over 500 electric vehicles and striving for a 35% reduction in greenhouse gas emissions by 2030. The report aligns with GRI guidelines, SASB index, and TCFD recommendations.
United Rentals, Inc. (NYSE: URI) has partnered with Turner Construction to provide sustainable solutions, including all-electric trucks and zero-emission power systems, for a hyperscale data center project in Kansas City, Missouri, for Meta. The initiative aims to reduce environmental impact and support the goal of net-zero emissions by 2030. The equipment includes the Ford F-150 Lightning with a range of 320 miles and a 9.6kW Pro Power onboard generator. This collaboration will also help United Rentals identify more projects for emissions-saving solutions.