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. 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) has initiated a cash tender offer through its subsidiary to acquire all outstanding shares of H&E Equipment Services (NASDAQ: HEES) at $92.00 per share. The offer, announced on January 28, 2025, will expire on February 25, 2025, at one minute after 11:59 p.m. Eastern Time.
The tender offer is subject to key conditions including: acquisition of more than 50% of outstanding shares, expiration of Hart-Scott-Rodino Act waiting periods, completion of the Marketing Period, and other customary conditions. No financing condition is attached to the offer.
H&E's board of directors has recommended stockholders accept the offer and tender their shares. Innisfree M&A Incorporated is serving as the information agent, while Equiniti Trust Company, acts as the depositary and paying agent for the tender offer.
United Rentals (NYSE: URI) has appointed Julie Brandt to its board of directors, expanding the board to 11 members, with nine being independent directors. Brandt currently serves as Corporate Vice President and President, Global Commercial & Field Operations at Johnson Controls, where she drives strategic vision for field delivery and operations.
Prior to her current role, Brandt was President of Johnson Controls Building Solutions North America division and spent nearly three decades at Otis Elevator Company, most recently as Vice President and General Manager. She brings extensive global experience across North America, Latin America, Europe, and Asia Pacific, along with deep knowledge of the construction industry and expertise in driving large-scale distributed businesses.
Brandt holds an MBA and a bachelor's degree in International Business and Marketing from Indiana University's Kelley School of Business.
United Rentals (NYSE: URI) has announced its upcoming fourth quarter and full year 2024 conference call, scheduled for Thursday, January 30, 2025, at 8:30 a.m. Eastern Time. The call will feature CEO Matt Flannery and CFO Ted Grace.
Investors and interested parties can access the conference call through multiple channels:
- Live audio webcast at unitedrentals.com (archived for future reference)
- Direct dial-in: 800-343-1703 (US) or 785-424-1226 (international)
- Replay available at 402-220-7225 (passcode: 39460)
The company will release its Q4 and full-year 2024 press release after market close on Wednesday, January 29, 2025. The release will be available on the company's website.
United Rentals (NYSE: URI) has announced a definitive agreement to acquire H&E Equipment Services for $92 per share in cash, representing a total enterprise value of approximately $4.8 billion, including $1.4 billion of net debt.
H&E, founded in 1961, operates approximately 160 branches across 30+ U.S. states with 2,900 employees and $2.9 billion in rental fleet at original cost. The company generated $696 million in adjusted EBITDA on revenues of $1.518 billion, with a 45.8% margin over the trailing 12 months through September 2024.
The acquisition will expand United Rentals' fleet by almost 64,000 units and is expected to generate $130 million in annual cost synergies within 24 months and $120 million in revenue synergies by year three. The transaction is expected to close in Q1 2025, subject to customary conditions including regulatory approval. The deal includes a 35-day "go-shop" period through February 17, 2025.
United Rentals (NYSE: URI) has launched a new Excavation Safety Training for Competent Persons Program, offering an interactive approach to trench and excavation safety education. The program helps workers understand and apply OSHA Standard 29 CFR Part 1926 Subpart P through multiple learning formats including in-person classes, virtual sessions, and e-learning.
The training features virtual reality simulations, hazard hunts, and includes the United Rentals Trench Safety app. With over 92 trench safety locations and North America's largest shoring equipment fleet, United Rentals provides comprehensive underground solutions, OSHA-compliant protective systems, and consultation services for construction companies.
United Rentals (NYSE: URI) has received two prestigious recognitions for its veteran employment initiatives: the 2024 HIRE Vets Medallion Platinum Award and 2025 Military Friendly® Employer Gold recognition. The company earned multiple Military Friendly awards, including distinctions for Military Spouse Friendly Employer, Supplier Diversity Program, and Brand excellence.
The awards acknowledge United Rentals' comprehensive approach to veteran recruitment, employment, and retention. The company provides veteran-specific resources, leadership programming, dedicated HR efforts, competitive pay, and tuition assistance. A significant portion of United Rentals' workforce has military background, demonstrating their commitment to supporting veterans' transition to civilian careers.
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.
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.
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.
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.