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, through its subsidiary UR Merger Sub VI Corporation, has completed its tender offer to acquire General Finance Corporation for $19.00 per share. The offer, which expired on May 21, 2021, saw 27,625,450 shares tendered, amounting to approximately 91.4% of General Finance's outstanding shares. The acquisition is scheduled for completion on May 25, making General Finance a wholly owned subsidiary. Post-merger, General Finance's common stock and preferred shares will be cancelled and delisted from NASDAQ.
United Rentals reported Q1 2021 revenues of $2.057 billion, a 6.5% decline in rental revenue year-over-year, but raised its full-year guidance to $9.05 billion to $9.45 billion. Net income rose 17.3% to $203 million, with a net income margin of 9.9% and diluted EPS of $2.80. Adjusted EBITDA decreased 4.6% to $873 million. The company experienced a significant 28% increase in used equipment sales, generating $267 million in gross margin. CEO Matthew Flannery expressed confidence in continued recovery.
United Rentals announced a cash tender offer to acquire all outstanding shares of General Finance at $19.00 per share. This offer, made through its subsidiary UR Merger Sub VI Corporation, is part of a merger agreement finalized on April 15, 2021. The tender offer will expire on May 21, 2021, unless extended. The transaction is not subject to any financing conditions but is contingent upon certain regulatory approvals and the tendering of sufficient shares. The General Finance board recommends stockholders accept the offer.
United Rentals will acquire General Finance for $19 per share, totaling approximately $996 million, including $400 million net debt. The acquisition aims to enhance United Rentals' market presence and diversify service offerings in mobile storage and modular office space. General Finance operates 106 branches across North America and Australia/New Zealand, generating $94 million adjusted EBITDA on $346 million revenue. The deal, expected to close in Q2 2021, is projected to yield $65 million in revenue synergies and $17 million in adjusted EBITDA benefits by the second year post-acquisition.
United Rentals, Inc. (NYSE: URI) has acquired Franklin Equipment, LLC, enhancing its equipment rental services in the Midwest and Southeast U.S. Founded in 2008, Franklin Equipment operates 20 locations, serving general contractors across states including Ohio and Georgia. This acquisition adds over 300 employees to United Rentals, aligning with its commitment to superior customer service. The deal expands United Rentals' market presence and builds operational synergies. Financial specifics of the transaction were not disclosed.
United Rentals (NYSE: URI) is set to hold its first quarter 2021 conference call on April 29, 2021, at 11:00 a.m. ET, featuring CEO Matt Flannery and CFO Jessica Graziano. The corresponding press release will be available after market close on April 28, 2021, on unitedrentals.com. United Rentals, the largest equipment rental company globally, operates over 1,154 rental locations across North America and Europe, employing approximately 18,250 individuals. The company offers around 4,000 classes of equipment for rent, valued at $13.78 billion.
United Rentals (NYSE: URI) will participate in the Evercore ISI 13th Annual Industrial Conference on March 2, 2021. The presentation, led by CEO Matt Flannery and CFO Jessica Graziano, is set for 4:05 p.m. ET and will be accessible via a webcast link. Additionally, an archived version of the presentation will be available on the company's website for thirty days. United Rentals operates the largest equipment rental network globally, with over 1,154 locations and around 18,250 employees, offering roughly 4,000 classes of rental equipment valued at $13.78 billion.
United Rentals (NYSE: URI) reported fourth quarter 2020 revenue of $2.279 billion, with rental revenue accounting for $1.854 billion. Fleet productivity fell 3.8% year-over-year, but improved 420 basis points sequentially. Net income was $297 million, marking a 12.1% year-over-year decrease. Adjusted EBITDA stood at $1.037 billion, representing a 45.5% margin. Looking ahead, the company expects 2021 revenue to range between $8.625 billion and $9.025 billion, anticipating growth driven by improved customer sentiment and increased capital expenditures.
United Rentals, Inc. (NYSE: URI) announces its fourth quarter and full year 2020 conference call scheduled for January 28, 2021, at 11:00 a.m. ET. CEO Matt Flannery and CFO Jessica Graziano will lead the call, where the fourth quarter results will be discussed. The press release will be available on their website following market close on January 27, 2021. With approximately 1,170 rental locations and a workforce of 18,400 employees, United Rentals is the largest equipment rental company globally, operating in 49 U.S. states and all Canadian provinces.
United Rentals (NYSE: URI) reported Q3 2020 revenue of $2.187 billion, with rental revenue at $1.861 billion. Net income fell 46.8% year-over-year to $208 million, reflecting a margin of 9.5%. Despite a decline in fleet productivity by 8.0%, it improved sequentially by 560 basis points due to better fleet absorption. The company raised its full-year guidance, projecting revenue between $8.35 billion and $8.45 billion, with adjusted EBITDA ranging from $3.825 billion to $3.875 billion. Total liquidity stood at $3.430 billion as of September 30, 2020.
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