Business
United Rentals Announces Fourth Quarter and Full-Year1 2025 Results, Introduces 2026 Outlook for Growth, and Announces Plan to Return Approximately $2 Billion to Shareholders in 2026 Supported by New $5 Billion Share Repurchase Program
STAMFORD, Conn., January 28, 2026--United Rentals, Inc. (NYSE: URI) today announced financial results for the fourth quarter of 2025 and reported its full-year results on Form 10-K. The company also announced its full-year 2026 guidance, its intention to repurchase $1.5 billion of common stock in 2026, supported by a new $5 billion share repurchase program, and a 10% increase to its quarterly dividend.
About this update from United Rentals, Inc.
[{"type":"text","content":"STAMFORD, Conn., January 28, 2026--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) today announced financial results for the fourth quarter of 2025 and reported its full-year results on Form 10-K. The company also announced its full-year 2026 guidance, its intention to repurchase $1.5 billion of common stock in 2026, supported by a new $5 billion share repurchase program, and a 10% increase to its quarterly dividend.","length":422,"tagName":"p"},{"type":"text","content":"Fourth Quarter and Full-Year 2025 Highlights","length":44,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenue for the quarter of $4.208 billion, including rental revenue2 of $3.581 billion.","length":93,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net income for the quarter of $653 million, at a margin3 of 15.5%. GAAP diluted earnings per share of $10.27, and adjusted EPS4 of $11.09.","length":138,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA4 for the quarter of $1.901 billion, at a margin3 of 45.2%.","length":74,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Year-over-year, fleet productivity5 increased 0.5% for the fourth quarter and 2.2% for the full-year.","length":101,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Full-year net cash provided by operating activities of $5.190 billion; free cash flow4 of $2.181 billion, including gross payments for purchases of rental equipment of $4.149 billion.","length":183,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Full-year gross rental capital expenditures of $4.189 billion.","length":62,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Returned $2.364 billion to shareholders for the full-year, comprised of $1.9 billion via share repurchases and $464 million via dividends paid.","length":143,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Year-end net leverage ratio6 of 1.9x, with total liquidity6 of $3.322 billion.","length":78,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":872,"olType":false},{"type":"text","content":"CEO Comment","length":11,"tagName":"p"},{"type":"text","content":"Matthew Flannery, chief executive officer of United Rentals, said, "I am very pleased that the team’s commitment to again double down...