UNITED RENTALS (URI) Company Report

On December 1, 2025, United Rentals (North America), Inc. completed a private placement of $1.5 billion aggregate principal amount of 5.375% Senior Notes due 2033.
The notes are senior unsecured obligations of URNA, guaranteed by United Rentals, Inc. and certain domestic subsidiaries, accrue interest at 5.375% per annum payable semi-annually on May 15 and November 15 (first payment May 15, 2026), and mature on November 15, 2033.
Redemption provisions include callable redemption at 102.688% of principal in 2028, 101.344% in 2029 and 100.000% in 2030 and thereafter, a make-whole redemption before November 15, 2028, up to 40% equity-funded redemption at 105.375%, and a 101% change-of-control repurchase option.

4 days ago

8-K

United Rentals launches AI, AR tools to streamline equipment rentals

URI

Product Launch

United Rentals introduced two new digital features—Smart Suggestions (ML-based equipment recommendations) and Equipment Fit AR (3D jobsite placement)—cutting equipment identification and ordering time by 27%.
Smart Suggestions leverages customer order history, jobsite data, seasonality, and industry trends to predict equipment needs.
Equipment Fit AR enables contractors to virtually place equipment models on-site via mobile devices, with plans to expand to additional categories.
Developed with direct contractor and operations feedback, these tools bolster United Rentals’ digital transformation to boost retention, efficiency, and rental volumes; the stock has outperformed peers, gaining 28.9% over the past year versus a 4.3% industry decline.

Aug 28, 2025, 9:22 PM

Morningstar

United Rentals amends credit agreement

URI

Debt Issuance

On August 7, 2025, United Rentals filed an 8-K announcing Amendment No. 1 to its Amended and Restated Credit and Guaranty Agreement with Bank of America N.A. and other lenders.
The amendment reduces the Applicable Margin to 1.50% on Term SOFR loans and to 0.50% on Base Rate loans.
It reaffirms all guarantees, pledges and security interests under the loan documents, which remain in full force and effect post-amendment.
Wells Fargo Bank, N.A. commits $137.7 million as a Refinancing Term Lender, with total converting refinancing commitments of $849.8 million.

Aug 7, 2025, 12:00 AM

8-K

United Rentals announces Q2 2025 results and raises guidance

URI

Earnings

Guidance Update

Share Buyback

Total Q2 revenue of $3.943 B (rental revenue $3.415 B), net income $622 M (15.8% margin), adjusted EBITDA $1.810 B (45.9% margin), and fleet productivity up 3.3% YOY.
Raised 2025 guidance to $15.8–16.1 B in total revenue (prior $15.6–16.1 B) and $7.3–7.45 B in adjusted EBITDA (prior $7.2–7.45 B); net cash from operations now $4.9–5.5 B and free cash flow $2.4–2.6 B.
Increased share repurchase plan by $400 M to $1.9 B for 2025 (authorization expanded to $2.0 B); YTD returned $902 M to shareholders via $667 M repurchases and $235 M dividends; quarterly dividend of $1.79 per share declared.
Strong liquidity position with net leverage ratio at 1.8x and total liquidity of $2.996 B as of June 30, 2025.

Jul 23, 2025, 12:00 AM

8-K

United Rentals amends credit facility

URI

Debt Issuance

United Rentals, Inc. and certain subsidiaries executed a Fifth Amended and Restated Credit Agreement on July 10, 2025, replacing and restating their existing revolving credit and term loan facility originally dated June 9, 2008 and previously amended through 2022.
The new facility, arranged by Bank of America, N.A. as Agent and co-syndicated with Wells Fargo, JPMorgan Chase, The Bank of Nova Scotia, Goldman Sachs Bank and Morgan Stanley, provides multi-jurisdictional credit lines including U.S., Canadian, European and ANZ revolving commitments, swinglines and letters of credit.
As part of the amendment, United Rentals granted the Agent a security interest in substantially all of its assets, including accounts receivable, inventory, equipment, leases and proceeds, under U.S., Canadian and European security agreements.

Jul 11, 2025, 12:00 AM

8-K

United Rentals Extends A/R Facility and Amends Purchase Agreements

URI

Debt Issuance

The filing announces Amendment No. 17 to the Receivables Purchase Agreement and Amendment No. 10 to the Purchase and Contribution Agreement, effective June 6, 2025, with the A/R facility extended to June 24, 2026.
The amendments add Reliant Trust as a Purchaser under the agreements, broadening the group of receivables investment companies.
Fee agreements are modified to adjust the commitment fee to 0.325% (if usage is ≥66%) compared to 0.375% otherwise.

Jun 6, 2025, 12:00 AM

8-K

United Rentals Reports Q1 2025 Record Earnings Results

URI

Earnings

Guidance Update

Share Buyback

M&A

Revenue climbed 6.7% YoY to $3.719 billion, including record rental revenue of $3.1 billion and net income of $518 million at a 13.9% margin .
Adjusted EPS reached $8.86, reflecting strong Q1 performance .
Adjusted EBITDA was $1.671 billion (44.9% margin), benefiting from a net $52 million merger termination impact .
Operational highlights include first-quarter records in used equipment sales of over $740 million and robust free cash flow of nearly $1.1 billion .
The company reaffirmed its full-year outlook with the approval of a new $1.5 billion share buyback program and an overall plan to return roughly $2 billion to shareholders in 2025 .

Apr 24, 2025, 12:31 PM

Transcript Presentation

United Rentals Announces Q1 2025 Results & Share Buyback

URI

Earnings

Share Buyback

Guidance Update

Q1 2025 Results: United Rentals recorded total revenue of $3.719 billion, including rental revenue of $3.145 billion, net income of $518 million, and adjusted EBITDA of $1.671 billion.
Key earnings metrics reported include GAAP diluted EPS of $7.91, adjusted EPS of $8.86, and free cash flow of $1.082 billion.
The Board approved a new $1.5 billion share repurchase program, set to begin in Q2 2025, reinforcing its full-year guidance.

Apr 23, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for UNITED RENTALS.

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