Loading...
•
Mar 31, 2025
United Rentals Q1 2025 Earnings Report
United Rentals delivered a record-setting Q1 2025 with strong revenue and adjusted EBITDA, while reaffirming guidance and launching a new repurchase program.
Key Takeaways
United Rentals had a strong start to 2025 with record Q1 revenue of $3.719B and adjusted EBITDA of $1.671B, driven by demand across key sectors and supported by a solid capital position and a new $1.5B share repurchase program.
Achieved record first-quarter revenue of $3.719 billion, up from $3.485 billion YoY.
Adjusted EBITDA reached $1.671 billion, boosted by a $52 million merger termination benefit.
Net income was $518 million, including a $29 million after-tax benefit from a terminated merger.
Launched a new $1.5 billion share repurchase program and reaffirmed full-year guidance.
Revenue by Segment
Forward Guidance
United Rentals maintained its 2025 outlook, projecting strong revenue and cash generation supported by resilient demand and strategic capital investments.
Positive Outlook
- Revenue expected between $15.6B and $16.1B for FY2025.
- Adjusted EBITDA forecasted between $7.2B and $7.45B.
- Free cash flow guidance excluding merger costs between $2.0B and $2.2B.
- Strong total liquidity of $3.345B as of March 31, 2025.
- Full-year capital repurchase goal of $1.5B on track with new program.
Challenges Ahead
- Used equipment sales margin declined due to pricing normalization.
- SG&A costs rose due to H&E acquisition-related expenses.
- Interest expenses increased from merger-related financing.
- Specialty rental margins compressed due to inflation and fleet repositioning.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...