Business
United Rentals Announces First Quarter 2025 Results, Reaffirms Full-Year Guidance, and Introduces New $1.5 Billion Share Repurchase Program
STAMFORD, Conn., April 23, 2025--United Rentals, Inc. (NYSE: URI) today announced financial results for the first quarter of 2025, reaffirmed its 2025 full-year guidance and announced that its Board of Directors has approved a new $1.5 billion share repurchase program.
About this update from United Rentals, Inc.
[{"type":"text","content":"STAMFORD, Conn., April 23, 2025--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) today announced financial results for the first quarter of 2025, reaffirmed its 2025 full-year guidance and announced that its Board of Directors has approved a new $1.5 billion share repurchase program.","length":286,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Highlights1","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenue of $3.719 billion, including rental revenue2 of $3.145 billion.","length":77,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net income of $518 million, at a margin3 of 13.9%. GAAP diluted earnings per share of $7.91, and adjusted EPS4 of $8.86.","length":120,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA4 of $1.671 billion, at a margin3 of 44.9%.","length":58,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Year-over-year, fleet productivity5 increased 3.1% as reported and 1.9% on a pro forma5 basis.","length":94,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net cash provided by operating activities of $1.425 billion; free cash flow4 of $1.082 billion, including gross payments for purchases of rental equipment of $661 million.","length":171,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Gross rental capital expenditures of $707 million.","length":50,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Returned $368 million to shareholders, comprised of $250 million via share repurchases and $118 million via dividends paid.","length":123,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net leverage ratio6 of 1.7x, with total liquidity6 of $3.345 billion, at March 31, 2025.","length":88,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":781,"olType":false},{"type":"text","content":"CEO Comment","length":11,"tagName":"p"},{"type":"text","content":"Matthew Flannery, chief executive officer of United Rentals, said, "2025 is off to a solid start, reflecting demand across both our construction and industrial end-markets. I’m pleased with the team’s commitment to putting our customers first, which ultimately translated to record first-quarter revenue and adjusted EBITDA. I’m also pleased to reaffirm our full-year guidanc...