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Earnings Call Summary | United Rentals(URI.US) Q1 2024 Earnings Conference

Futu News ·  Apr 25 23:14  · Conference Call

The following is a summary of the United Rentals, Inc. (URI) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • United Rentals reported Q1 revenue of $3.5 billion, marking a 6% increase year-over-year.

  • The company exhibited rental revenue growth of 7% and fleet productivity of 4%.

  • The record adjusted EBITDA was $1.6 billion with a margin standing at 45.5%.

  • Adjusted EPS was up by 15% at $9.15 this quarter.

  • A reported expenditure of $595 million was made on rental CapEx, resulting in a free cash flow of $860 million.

  • $485 million was returned to shareholders via shares buybacks and dividends.

Business Progress:

  • United Rentals has been making strategic moves; expanding its product offerings, investing in tech to enhance customer experience and initiating new start-ups.

  • The acquisition of Yak has added more capabilities to their platform, a strategic move expected to fuel growth in 2024.

  • Their four main areas of growth include mobile storage and ROS segment.

  • The company aims to become a 'one-stop-shop' for customers and plans to grow by expanding product lines within existing business and exploring new categories.

  • While growing, United Rentals has also returned substantial capital to shareholders, maintained a strong balance sheet, and upkeep their targeted leverage range.

More details: United Rentals IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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