United Rentals, Inc. reports news on its equipment rental business serving construction, industrial, utility, municipal and homeowner customers. Company updates commonly cover rental revenue, fleet productivity, adjusted EBITDA, guidance, capital allocation and quarterly dividends, along with activity across general rentals and specialty rental offerings.
Recurring developments also include digital and jobsite tools such as Worksite Performance Solutions, United Academy training programs, the Equipment Agent AI assistant and telematics integrations. Governance updates, board composition and investor conference participation appear alongside operating results and customer-focused safety initiatives.
United Rentals (NYSE: URI) reported a strong Q1 2022, achieving total revenue of $2.524 billion, with rental revenue rising 30.5% year-over-year to $2.175 billion. The company recorded a net income of $367 million, representing an 80.8% increase, and an adjusted EBITDA of $1.139 billion. Notably, fleet productivity increased by 13% and gross margins improved due to higher pricing. In response to robust project activity, the firm raised its full-year guidance for total revenue and adjusted EBITDA, projecting totals between $11.1 billion and $11.5 billion.
United Rentals, Inc. (NYSE: URI) announced plans to redeem $500 million of its 5.50% Senior Notes due 2027 on May 21, 2022. The redemption price is 102.75% of the principal amount, plus accrued interest. Registered noteholders will receive a notice of redemption by April 21, 2022. URNA will utilize cash and borrowing from a secured asset-based credit facility for this purpose. The redemption is contingent on sufficient funds being available. This notice does not constitute a solicitation for offers to buy securities.
United Rentals, Inc. (NYSE: URI) will host its first quarter 2022 conference call on April 28, 2022, at 11:00 a.m. ET. CEO Matt Flannery and CFO Jessica Graziano will discuss the company's performance. The press release detailing financial results will be available after market close on April 27, 2022. The conference call will also be accessible via audio webcast and will be archived for future access. United Rentals is the largest equipment rental company globally, with over 1,288 locations and a diverse fleet costing around $15.79 billion.
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United Rentals (NYSE: URI) has announced the introduction of POWRBANK battery systems to its rental fleet, partnering with POWR2 Energy Solutions. This initiative marks a significant investment in sustainable energy solutions for customers in North America. The POWRBANK system is designed to reduce generator runtime, emissions, and noise while offering high-density lithium battery storage of up to 120KW hours. United Rentals aims to achieve a 35% reduction in greenhouse gas emissions intensity by 2030 compared to 2018 levels, reinforcing its commitment to sustainability.
United Rentals, Inc. (NYSE: URI) announces the retirement of Jeff Fenton, senior vice president of business development, effective June 30, 2022. He will be succeeded by Alfredo Barquin, who will lead the company’s M&A growth strategy. Fenton will advise through December 31, 2022. Barquin, previously with SWM International, has significant experience in M&A initiatives. United Rentals, the largest equipment rental company globally, operates over 1,288 rental locations across various regions, offering approximately 4,300 classes of equipment, totaling a cost of $15.79 billion.
United Rentals (NYSE: URI) will participate in the Evercore ISI 14th Annual Industrial Conference on February 28, 2022. The event features a presentation by CEO Matt Flannery and CFO Jessica Graziano, starting at 11:00 a.m. ET. The presentation can be accessed live via this link and will also be archived on unitedrentals.com for thirty days.
As the largest equipment rental company globally, United Rentals operates 1,288 locations across North America, Europe, Australia, and New Zealand.
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The National Safety Council (NSC) recognized United Rentals, Inc. (NYSE: URI) CEO Matt Flannery as one of the 2022 CEOs Who 'Get It'. This accolade honors leaders who prioritize employee safety on and off the job. NSC emphasized that Flannery's safety strategy includes risk reduction, performance measurement, safety management, and employee engagement. United Rentals, the world's largest equipment rental company, operates 1,288 locations worldwide and employs around 20,400 staff, offering over 4,300 types of equipment.