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Dec 31, 2023
United Rentals Q4 2023 Earnings Report
Announced record Q4 and full-year 2023 results, introduced 2024 outlook and enhanced capital allocation strategy.
Key Takeaways
United Rentals announced record fourth-quarter results, driven by a commitment to customer service, safety, and operational excellence. The company's 2024 guidance reflects growth opportunities and a continued focus on shareholder value through profitable growth and strong free cash flow.
Total revenue reached $3.728 billion, including rental revenue of $3.119 billion.
Net income was $679 million, with a margin of 18.2%, and adjusted EPS of $11.26.
Adjusted EBITDA was $1.809 billion, with a margin of 48.5%.
Fleet productivity increased 0.3% as reported and 2.4% on a pro forma basis.
United Rentals
United Rentals
Forward Guidance
The company provided the following outlook for 2024.