It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of June 30, 2026, it operated a branch network of 1,774 global locations, including 1,665 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $23.8 billion as of June 30, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 20.8; value investors should take notice.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.85 to $48.55 per share. URI boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, URI should be on investors' short list.
STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) today announced that it will participate in the Morgan Stanley 14th Annual Laguna Conference on Tuesday, September 15, 2026. The conference will include a presentation by Matt Flannery, chief executive officer and Ted Grace, chief financial officer. The presentation is scheduled to begin at 2:35 p.m. PDT and will be available via the following link: https://cc.webcasts.com/morg007/091526a_js/?entity=18_HV4PEB2. About United Rent.
California State Teachers Retirement System lifted its stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 110,181.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,282,310 shares of the construction company’s stock after acquiring an additional 110,182,309 shares during the quarter. California State Teachers Retirement System owned about 177.19% of United Rentals worth $124,937,726,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in United Rentals in the second quarter worth about $5,816,326,000. Norges Bank bought a new position in shares of United Rentals during the 4th quarter valued at about $978,017,000. Bank of America Corp DE acquired a new position in shares of United Rentals in the 2nd quarter worth approximately $944,196,000. The Manufacturers Life Insurance Company bought a new stake in shares of United Rentals in the 2nd quarter worth approximately $716,129,000. Finally, Bank of New York Mellon Corp acquired a new stake in United Rentals during the second quarter valued at approximately $412,860,000. Institutional investors own 96.26% of the company’s stock.
Analyst Upgrades and Downgrades URI has been the topic of several research reports. Barclays upped their price target on United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a report on Friday, July 24th. Argus restated a “buy” rating and issued a $1,250.00 target price on shares of United Rentals in a report on Tuesday, August 4th. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 target price on the stock in a research report on Monday, June 29th. Citigroup upped their target price on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Evercore reiterated an “outperform” rating and issued a $1,101.00 price target on shares of United Rentals in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.
Get Our Latest Analysis on United Rentals United Rentals Stock Down 0.0% United Rentals stock opened at $1,009.78 on Monday. The firm’s 50 day moving average price is $1,087.43 and its two-hundred day moving average price is $962.34. The firm has a market cap of $62.85 billion, a PE ratio of 24.25, a P/E/G ratio of 1.49 and a beta of 1.79. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.47 earnings per share. On average, research analysts predict that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.
United Rentals Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. United Rentals’s dividend payout ratio is presently 18.92%.
Insider Activity at United Rentals In other news, EVP William Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.
United Rentals Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
Further Reading Five stocks we like better than United Rentals AI Token Costs Are Changing the Hardware vs. Software Debate 3 ETFs That Could Move as Rate Expectations Shift 3 Stocks With September Catalysts Investors Shouldn’t Ignore Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).
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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of June 30, 2026, it operated a branch network of 1,774 global locations, including 1,665 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $23.8 billion as of June 30, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. URI has a Growth Style Score of B, forecasting year-over-year earnings growth of 15.4% for the current fiscal year.
Eight analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $1.85 to $48.55 per share. URI also boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, URI should be on investors' short list.
Key Takeaways United Rentals is seeing stronger demand from infrastructure and other major projects.Fleet productivity rose 3.4%, while rental revenues climbed nearly 13% to $3.8 billion.United Rentals raised 2026 gross rental CapEx by $450 million to $4.85-$5.25 billion. United Rentals, Inc. (URI - Free Report) is seeing stronger demand from large infrastructure and other major projects, prompting it to increase fleet investment. In the second quarter of 2026, demand exceeded earlier expectations, with the project pipeline emerging as the main growth driver. Infrastructure, power, LNG terminals, airports, data centers and other large projects contributed to the broader demand environment.
The strong demand is also supporting high fleet utilization. Fleet productivity improved 3.4% in the second quarter, while rental revenues increased nearly 13% year over year to $3.8 billion. Time utilization reached historically high levels, giving the company confidence to add more equipment.
In response, United Rentals raised its 2026 gross rental CapEx outlook by $450 million to a range of $4.85-$5.25 billion. Year-to-date gross rental CapEx stood at $2.9 billion, up more than $650 million from the prior-year period. The additional fleet is being added to meet stronger customer demand rather than simply support near-term revenues.
The large-project pipeline is expected to remain strong into the second half of 2026, with project-related demand providing visibility into 2027. Supplier capacity remains tight in certain equipment categories, making advance planning important as United Rentals expands its fleet.
Overall, sustained infrastructure and large-project activity could remain an important factor behind fleet investment. If demand stays strong, higher fleet availability could allow United Rentals to capture additional rental opportunities while maintaining high utilization. This could also help the company support growth as major projects progress across several end markets.
Competitive Position: United Rentals vs. Armstrong World & MascoUnited Rentals operates across a broad industrial and infrastructure market alongside Armstrong World Industries, Inc. (AWI - Free Report) and Masco Corporation (MAS - Free Report) , which have exposure to construction and building products.
Armstrong World Industries provides ceiling, architectural specialty and interior solutions for commercial buildings. Its broad product portfolio, product differentiation and expansion into structural and containment solutions provide an advantage as demand grows across transportation and data center projects. However, Armstrong World Industries faces inflationary pressure from freight, energy and raw material costs, which could affect profitability.
Meanwhile, Masco operates across plumbing and decorative architectural products, with brands spanning kitchen, bath and premium water products. Masco’s strong brands, product innovation, e-commerce capabilities and customer service support its competitive position across multiple channels. However, softer international demand in markets such as China and pressure from strategic investments could weigh on near-term sales performance.
United Rentals’ one-stop-shop model, broad specialty offerings, technology and distributed footprint provide a competitive advantage in terms of customer service, fleet utilization and ability to serve large projects. However, competition could increase as industry utilization improves and smaller rental players use available capacity, while supply constraints may limit how quickly additional equipment can be added.
URI Stock’s Price Performance & Valuation TrendShares of this Connecticut-based equipment rental company climbed 25.4% in the past six months, outperforming the Zacks Building Products - Miscellaneous industry, the broader Zacks Construction sector and the S&P 500 Index.
Image Source: Zacks Investment Research
URI stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 19.79, as the trend lines suggest below.
Image Source: Zacks Investment Research
Earnings Estimate Trend of URIURI’s earnings estimates for 2026 and 2027 have moved upward over the past 30 days to $48.55 and $55.71 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year improvement of 15.4% and 14.7%, respectively.
Image Source: Zacks Investment Research
United Rentals currently holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Beacon Pointe Advisors LLC purchased a new position in United Rentals, Inc. (NYSE:URI – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,165 shares of the construction company’s stock, valued at approximately $8,112,000.
Several other large investors also recently bought and sold shares of URI. Core Wealth Advisors LLC purchased a new stake in shares of United Rentals in the fourth quarter valued at about $28,000. MV Capital Management Inc. purchased a new stake in United Rentals in the fourth quarter valued at approximately $28,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in United Rentals during the 2nd quarter worth about $29,000. MidFirst Bank acquired a new position in shares of United Rentals in the second quarter valued at approximately $31,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of United Rentals during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Insider Buying and Selling at United Rentals In other United Rentals news, EVP William E. Grace sold 1,500 shares of United Rentals stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares in the company, valued at approximately $6,869,155.30. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets A number of equities research analysts have commented on the stock. BNP Paribas Exane raised shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a research report on Monday, June 29th. Weiss Ratings raised United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 23rd. Zacks Research upgraded United Rentals from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Raymond James Financial reissued an “outperform” rating and set a $1,275.00 price objective on shares of United Rentals in a report on Wednesday, June 10th. Finally, Bank of America upped their target price on shares of United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, United Rentals presently has an average rating of “Moderate Buy” and an average target price of $1,246.19. Get Our Latest Research Report on URI
United Rentals Trading Down 0.7% Shares of URI stock opened at $1,030.64 on Friday. The company has a market capitalization of $64.15 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $1,097.31 and its two-hundred day moving average is $957.16. United Rentals, Inc. has a twelve month low of $701.59 and a twelve month high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the business earned $10.47 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts forecast that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Dividend Announcement The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.
United Rentals Company Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
Further Reading Five stocks we like better than United Rentals 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop?
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Archer Investment Corp acquired a new stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,011 shares of the construction company’s stock, valued at approximately $1,146,000.
A number of other institutional investors have also recently added to or reduced their stakes in URI. BlackRock Inc. acquired a new stake in shares of United Rentals in the second quarter valued at approximately $5,816,326,000. Capital World Investors boosted its position in shares of United Rentals by 1.1% during the fourth quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock worth $2,192,357,000 after buying an additional 30,263 shares during the period. Franklin Resources Inc. grew its holdings in United Rentals by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock worth $1,087,711,000 after buying an additional 28,895 shares in the last quarter. Norges Bank bought a new position in United Rentals in the 4th quarter worth approximately $978,017,000. Finally, Bank of America Corp DE acquired a new stake in United Rentals in the 2nd quarter valued at approximately $944,196,000. 96.26% of the stock is currently owned by institutional investors.
Insiders Place Their Bets In other United Rentals news, EVP William E. Grace sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total transaction of $1,699,725.00. Following the sale, the executive vice president directly owned 6,062 shares of the company’s stock, valued at $6,869,155.30. The trade was a 19.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.
United Rentals Price Performance NYSE URI opened at $1,030.64 on Friday. United Rentals, Inc. has a 1 year low of $701.59 and a 1 year high of $1,179.18. The business’s fifty day moving average is $1,097.31 and its two-hundred day moving average is $957.16. The stock has a market capitalization of $64.15 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.34 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. United Rentals (NYSE:URI – Get Free Report) last announced its earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the firm earned $10.47 earnings per share. United Rentals’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts forecast that United Rentals, Inc. will post 48.55 earnings per share for the current fiscal year.
United Rentals Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were given a dividend of $1.97 per share. This represents a $7.88 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 12th. United Rentals’s payout ratio is presently 18.92%.
Analyst Ratings Changes Several equities research analysts recently weighed in on URI shares. KeyCorp reaffirmed an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a report on Friday, July 24th. Citigroup raised their target price on shares of United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. upped their price target on shares of United Rentals from $1,100.00 to $1,235.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. BNP Paribas Exane upgraded shares of United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective for the company in a report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of United Rentals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,246.19.
Get Our Latest Stock Report on URI
United Rentals Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
Featured Articles Five stocks we like better than United Rentals 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop?
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A month has gone by since the last earnings report for United Rentals (URI - Free Report) . Shares have lost about 3.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is United Rentals due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
United Rentals Q2 Earnings Beat on Rental Growth, '26 Guidance RaisedUnited Rentals reported solid second-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year.
Record rental revenues, higher fleet productivity and robust specialty demand supported the results. Fleet productivity improved 3.4% year over year.
URI's Q2 Earnings & RevenuesURI posted adjusted earnings of $12.76 per share, up 21.9% from $10.47 a year ago and surpassing the Zacks Consensus Estimate of $11.67 by 9.3%.
Total revenues advanced 11.8% to $4.41 billion and topped the consensus mark of $4.24 billion by 4.1%.
URI’s Rental Revenues Reach a Quarterly RecordRental revenues increased 12.7% year over year to a quarterly record of $3.85 billion. Average original equipment at cost, or OEC, rose 7.1%.
Owned equipment rental revenues increased 9% to $2.99 billion from $2.75 billion. Re-rent revenues rose 46.7% to $88 million, while ancillary and other rental revenues advanced 26.2% to $770 million.
Sales of rental equipment increased 4.1% to $330 million. Sales of new equipment rose 14.7% to $86 million, contractor supplies sales increased 7.3% to $44 million and service and other revenues grew 6.3% to $101 million.
United Rentals Sees Specialty Growth AccelerateGeneral Rentals segment equipment rental revenues increased 6.6% year over year to $2.42 billion. Equipment rental gross profit rose 8.7% to $865 million, while gross margin expanded 70 basis points to 35.8%.
Specialty segment equipment rental revenues rose 24.8% to $1.43 billion. Gross profit increased 21.1% to $636 million, but gross margin contracted 140 basis points to 44.4%. The decline reflected a revenue mix shift toward lower-margin ancillary and re-rent revenues, partly offset by lower labor and benefit expenses as a percentage of revenues.
United Rentals' Profitability ImprovesGross profit increased to $1.73 billion from $1.53 billion. The gross margin improved to 39.3% from 38.9%, as revenue growth outpaced the increase in cost of revenues.
Adjusted EBITDA rose 13.6% to a quarterly record of $2.06 billion. The adjusted EBITDA margin expanded 70 basis points to 46.6%, including a $49 million gain from the sale of part of the scaffolding business. Excluding that gain, the margin declined 40 basis points due mainly to the Specialty Rentals mix pressure.
Net income increased 21.1% to a second-quarter record of $753 million. Net income margin expanded 130 basis points to 17.1%, including a $37 million after-tax benefit from the scaffolding transaction.
United Rentals Maintains Financial FlexibilityFor the first six months of 2026, net cash provided by operating activities increased 20.1% to $3.31 billion. Free cash flow declined 4.1% to $1.15 billion, including restructuring-related payments and gross rental equipment purchases of $2.72 billion.
URI ended June with liquidity of $3 billion, including $112 million in cash and equivalents. Its net leverage ratio improved to 1.8x from 1.9x at the end of 2025.
The company returned $998 million to its shareholders during the first half of 2026, comprising $750 million in share repurchases and $248 million in dividends. United Rentals expects to repurchase $1.5 billion of shares in 2026 and declared a quarterly dividend of $1.97 per share.
URI Raises Key 2026 Guidance RangesManagement raised its 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion. The adjusted EBITDA forecast increased to $7.98-$8.13 billion from $7.63-$7.88 billion.
United Rentals now expects net cash provided by operating activities of $5.85-$6.65 billion, compared with the prior projection of $5.4-$6.2 billion. The free cash flow outlook, excluding restructuring-related payments, was maintained at $2.15-$2.45 billion.
Net rental capital expenditures are projected at $3.4-$3.8 billion after gross purchases of $4.85-$5.25 billion. Management cited large-project activity, customer backlogs and year-to-date momentum as factors supporting the higher outlook.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresCurrently, United Rentals has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise United Rentals has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
Advisors Capital Management LLC purchased a new position in United Rentals, Inc. (NYSE:URI – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 32,182 shares of the construction company’s stock, valued at approximately $36,459,000. Advisors Capital Management LLC owned approximately 0.05% of United Rentals as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of United Rentals during the second quarter valued at $5,816,326,000. Capital World Investors grew its position in United Rentals by 1.1% during the 4th quarter. Capital World Investors now owns 2,708,877 shares of the construction company’s stock valued at $2,192,357,000 after purchasing an additional 30,263 shares during the last quarter. Franklin Resources Inc. increased its stake in United Rentals by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 1,343,981 shares of the construction company’s stock valued at $1,087,711,000 after purchasing an additional 28,895 shares in the last quarter. Norges Bank purchased a new position in United Rentals in the fourth quarter worth about $978,017,000. Finally, Bank of America Corp DE raised its holdings in United Rentals by 14.7% in the first quarter. Bank of America Corp DE now owns 806,380 shares of the construction company’s stock worth $587,496,000 after buying an additional 103,371 shares during the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Analyst Upgrades and Downgrades URI has been the subject of several analyst reports. Robert W. Baird set a $1,300.00 price target on shares of United Rentals in a research report on Friday, July 24th. Evercore reaffirmed an “outperform” rating and issued a $1,101.00 price objective on shares of United Rentals in a research report on Monday, May 11th. Bank of America increased their target price on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Raymond James Financial restated an “outperform” rating and issued a $1,275.00 price target on shares of United Rentals in a research note on Wednesday, June 10th. Finally, Morgan Stanley set a $1,335.00 price target on United Rentals and gave the company an “overweight” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,246.19.
Get Our Latest Report on United Rentals Insider Buying and Selling at United Rentals In other news, EVP William E. Grace sold 1,500 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at $6,869,155.30. This represents a 19.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.
United Rentals Trading Down 2.0% Shares of NYSE:URI opened at $1,094.54 on Friday. The stock has a market capitalization of $68.12 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.44 and a beta of 1.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock’s 50-day simple moving average is $1,098.84 and its two-hundred day simple moving average is $948.49. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a net margin of 15.67% and a return on equity of 31.72%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the firm earned $10.47 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts expect that United Rentals, Inc. will post 48.55 EPS for the current year.
United Rentals Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $1.97 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 annualized dividend and a yield of 0.7%. United Rentals’s dividend payout ratio (DPR) is presently 18.92%.
United Rentals Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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August Group Capital Ltd acquired a new stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 863 shares of the construction company’s stock, valued at approximately $977,000. United Rentals makes up about 1.1% of August Group Capital Ltd’s investment portfolio, making the stock its 23rd largest position.
A number of other large investors also recently bought and sold shares of URI. E Fund Management Co. Ltd. purchased a new position in shares of United Rentals in the 2nd quarter valued at $268,000. Westport Asset Management Inc. purchased a new stake in shares of United Rentals during the 2nd quarter worth $9,063,000. Frazier Financial Advisors LLC bought a new stake in United Rentals during the second quarter valued at about $63,000. Johnson Financial Group Inc. bought a new stake in United Rentals during the second quarter valued at about $120,000. Finally, West Family Investments Inc. purchased a new position in United Rentals in the second quarter valued at about $265,000. Institutional investors own 96.26% of the company’s stock.
Wall Street Analyst Weigh In A number of brokerages have commented on URI. Wall Street Zen upgraded shares of United Rentals from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Truist Financial raised their price target on shares of United Rentals from $1,421.00 to $1,466.00 and gave the company a “buy” rating in a report on Friday, July 24th. KeyCorp reaffirmed an “overweight” rating and issued a $1,350.00 price objective on shares of United Rentals in a research report on Friday, July 24th. Barclays boosted their price objective on shares of United Rentals from $715.00 to $950.00 and gave the stock an “underweight” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada raised their target price on shares of United Rentals from $1,041.00 to $1,119.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,246.19.
View Our Latest Research Report on United Rentals United Rentals Trading Down 0.0% United Rentals stock opened at $1,116.17 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.70 and a current ratio of 0.76. The stock has a market cap of $69.47 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.80. The stock has a 50-day moving average of $1,098.29 and a two-hundred day moving average of $946.28. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.47 earnings per share. On average, research analysts anticipate that United Rentals, Inc. will post 48.55 EPS for the current fiscal year.
United Rentals Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.97 per share. The ex-dividend date is Wednesday, August 12th. This represents a $7.88 dividend on an annualized basis and a yield of 0.7%. United Rentals’s dividend payout ratio is presently 18.92%.
Insider Activity In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the transaction, the executive vice president owned 6,062 shares of the company’s stock, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.
United Rentals Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of June 30, 2026, it operated a branch network of 1,774 global locations, including 1,665 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $23.8 billion as of June 30, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. URI has a Growth Style Score of B, forecasting year-over-year earnings growth of 15.4% for the current fiscal year.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $1.30 to $48.55 per share. URI also boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, URI should be on investors' short list.
Key Takeaways United Rentals says 90% of current growth is organic, with M&A still part of its longer-term strategy.URI's Q2 rental revenues rose 12.7% to a record $3.85B, while specialty rental revenues jumped 24.8%.URI has nearly $3B of liquidity and 1.8x net leverage, providing financial flexibility to pursue deals. United Rentals, Inc.’s (URI - Free Report) growth story is currently being powered overwhelmingly by organic expansion, but mergers and acquisitions remain an important component of its longer-term strategy. Management noted on the second-quarter earnings call that roughly 90%+ of the company’s current growth is organic. At the same time, CEO Matthew Flannery described the acquisition pipeline as robust and said URI continues to evaluate opportunities of different sizes, particularly those that can add products or strengthen specialty offerings.
The strength of the organic business was evident in the second quarter of 2026. Rental revenues increased 12.7% year over year to a quarterly record of $3.85 billion, supported by a 7.1% increase in average fleet size and 3.4% fleet productivity. Specialty rental revenues climbed 24.8% to $1.43 billion, compared with 6.6% growth in General Rentals. Specialty could also remain a focus for future acquisitions. The business accounted for roughly 37% of United Rentals’ total revenues in 2025, up from 16% in 2015, while specialty revenues recorded a 20.2% CAGR over the 2015-2025 period.
Still, strong organic growth does not make acquisitions irrelevant. M&A has historically helped United Rentals broaden both its geographic reach and product portfolio. The company cited the 2024 acquisition of Yak as an example of expanding adjacent specialty offerings, while the acquisition of Ahern Rentals in 2022 strengthened its core rental operations. URI continues to characterize strategic acquisitions as a way to expand the business and support its broader strategic objectives. With net leverage at 1.8x and nearly $3 billion of liquidity, URI has ample financial flexibility to pursue deals.
Overall, M&A looks more like an accelerator than a necessity. Strong organic growth gives URI room to remain selective, while targeted acquisitions could still enhance its specialty portfolio and strengthen its one-stop-shop strategy.
United Rentals, Gibraltar and Masco: Who Has the Better Growth Mix?United Rentals appears to have the strongest organic growth profile compared with Gibraltar Industries, Inc. (ROCK - Free Report) and Masco Corporation (MAS - Free Report) . URI management said more than 90% of its current growth is organic, while maintaining a robust M&A pipeline focused partly on adding products and strengthening specialty offerings.
Gibraltar’s recent growth is more acquisition-assisted. Second-quarter 2026 sales surged 64.6% to $510 million following the OmniMax acquisition, while companywide organic growth was 5%. The combination is producing benefits, with management raising its 2026 synergy commitment to $29.4 million of executed savings. However, Gibraltar ended the quarter at 3.9x net leverage and has made debt reduction its priority over the next 12-18 months, potentially limiting near-term acquisition flexibility.
Masco presents a more balanced capital-allocation picture. Second-quarter 2026 sales declined 3%, although underlying sales were roughly flat excluding targeted strategic investments. The company ended the quarter with 2.1x gross debt-to-EBITDA and $1.5 billion of liquidity, and now expects to deploy about $1 billion toward share repurchases or acquisitions in 2026.
Overall, URI appears least dependent on M&A to sustain growth. Gibraltar is focused on extracting value from OmniMax and deleveraging, while Masco retains acquisition capacity but is also prioritizing organic investments and shareholder returns. For URI, selective deals could complement an already strong organic growth engine rather than create it.
URI Stock’s Price Performance & Valuation TrendShares of this Connecticut-based equipment rental company climbed 42.6% in the year-to-date (YTD) period, outperforming the Zacks Building Products - Miscellaneous industry, the broader Zacks Construction sector and the S&P 500 Index.
URI YTD Share Price Performance
Image Source: Zacks Investment Research
URI Valuation
URI stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 21.75, as the trend lines suggest below.
Image Source: Zacks Investment Research
Earnings Estimate Trend of URIURI’s earnings estimates for 2026 and 2027 have moved upward over the past 30 days to $48.55 and $55.71 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year improvement of 9.6% and 15.4%, respectively.
Image Source: Zacks Investment Research
URI’s Zacks RankUnited Rentals currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
When a stock reaches a certain price, some will worry that the buying pool becomes more limited, as retail investors may feel priced out. Often, when a stock hits $1,000 per share, that seems to be a psychological price level at which more shareholders start wondering whether a stock split is on the horizon.
With the United Rentals (URI +0.48%) stock opening at $1,123.36 on Aug. 14, the world's largest equipment rental company seems like a candidate for a split.
Image source: Getty Images.
Will a United Rentals stock split happen in 2026? United Rentals recently posted strong results for its 2026 second-quarter earnings, raising its 2026 revenue forecast from $16.9 billion to $17.4 billion to $17.5 billion to $17.8 billion. The stock price is also performing well, climbing 42% thus far in 2026 and trading near its 52-week high of $1,179.18.
The stock price has strong momentum, which could help propel it to set a new 52-week high. And if that price keeps rising, it will have investors wondering even more about whether a stock split is on the table.
Today's Change
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5.50
Current Price
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Why a split isn't a guarantee to happen Shareholders may worry that a stock won't attract new investors to push the price higher if it's at a certain level. In comparison, a management team may view a higher stock price as a sign of strength. Even if the stock is over $1,000, United could argue that demand is still growing.
By not completing a stock split, United saves time, money, and resources on legal fees and paperwork. But it also helps deter those who may be buying the stock solely because they believe it will receive more attention, with that increased attention creating a short-term profit opportunity.
A United Rental stock split is still possible before the end of the year. But if demand looks healthy and the stock price keeps climbing, there's little incentive for the management team to conduct one.
Fielder Capital Group LLC bought a new position in shares of United Rentals, Inc. (NYSE:URI – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 552 shares of the construction company’s stock, valued at approximately $625,000.
Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in United Rentals by 18.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock valued at $9,514,000 after acquiring an additional 1,846 shares during the last quarter. Eventide Asset Management LLC raised its position in United Rentals by 19.6% during the fourth quarter. Eventide Asset Management LLC now owns 95,940 shares of the construction company’s stock valued at $77,666,000 after purchasing an additional 15,696 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in United Rentals by 52.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock worth $2,623,000 after purchasing an additional 1,109 shares during the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of United Rentals by 2.0% in the 4th quarter. Bridges Investment Management Inc. now owns 69,583 shares of the construction company’s stock valued at $56,315,000 after purchasing an additional 1,354 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in shares of United Rentals by 995.1% in the 4th quarter. WINTON GROUP Ltd now owns 13,612 shares of the construction company’s stock valued at $11,016,000 after purchasing an additional 12,369 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.
Analyst Ratings Changes Several equities analysts have recently issued reports on URI shares. Citigroup lifted their price target on United Rentals from $1,270.00 to $1,330.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada upped their price objective on United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Bank of America raised their price objective on United Rentals from $1,195.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Wells Fargo & Company lifted their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Finally, Truist Financial boosted their target price on United Rentals from $1,421.00 to $1,466.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,246.19.
Get Our Latest Stock Analysis on URI Insider Activity In other United Rentals news, EVP William E. Grace sold 1,500 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $1,133.15, for a total value of $1,699,725.00. Following the completion of the sale, the executive vice president directly owned 6,062 shares in the company, valued at approximately $6,869,155.30. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.
United Rentals Stock Performance URI stock opened at $1,155.25 on Monday. The firm has a market cap of $71.90 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average price of $1,095.03 and a 200-day moving average price of $940.62. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,179.18.
United Rentals (NYSE:URI – Get Free Report) last announced its earnings results on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, beating the consensus estimate of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the company earned $10.47 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts expect that United Rentals, Inc. will post 48.55 earnings per share for the current year.
United Rentals Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.97 per share. This represents a $7.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 12th. United Rentals’s dividend payout ratio is presently 18.92%.
About United Rentals (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
Further Reading Five stocks we like better than United Rentals The Metals Company’s Big Bet Now Comes Down to a License OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings Meta and Tesla Are Rebounding From Oversold Levels—Now What? AMG’s Alternatives Boom Powers Record Growth Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).
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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
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How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
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A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of June 30, 2026, it operated a branch network of 1,774 global locations, including 1,665 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $23.8 billion as of June 30, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 23.08; value investors should take notice.
For fiscal 2026, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.30 to $48.55 per share. URI boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, URI should be on investors' short list.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
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Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of June 30, 2026, it operated a branch network of 1,774 global locations, including 1,665 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $23.8 billion as of June 30, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Construction stock. URI has a Momentum Style Score of A, and shares are up 7.8% over the past four weeks.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $1.30 to $48.55 per share. URI also boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, URI should be on investors' short list.
Key Takeaways United Rentals posted record rental revenues, with the metric rising 12% year over year in Q2.Specialty rental revenues jumped 25%, while strong project activity lifted 2026 revenue guidance.Higher fleet investment and strong cash generation support growth and shareholder returns. United Rentals, Inc. (URI - Free Report) reported solid second-quarter 2026 results, with both adjusted earnings and revenues exceeding the Zacks Consensus Estimate by 9.3% and 4.1%, respectively. The company also delivered strong year-over-year growth across key metrics. Record rental revenues, higher fleet productivity and strong specialty demand supported the performance. Shares of United Rentals have gained 10.4% since the earnings release, reflecting positive investor sentiment toward its strong rental demand and raised 2026 guidance.
Digging Deeper Into United Rentals’ Q2 ResultsAdjusted earnings per share stood at $12.76, up 21.9% from the prior-year quarter, while revenues of $4.41 billion increased 11.8%. This growth was driven by record rental revenues, higher fleet productivity and strong specialty demand. Operating margin in the quarter was supported by higher revenue growth and fleet productivity, while adjusted EBITDA increased 13.6% year over year to a quarterly record of $2.06 billion.
Furthermore, United Rentals raised its 2026 revenue and adjusted EBITDA guidance, backed by strong large-project activity, customer backlogs and higher fleet utilization. (read more: United Rentals Q2 Earnings Beat on Rental Growth, '26 Guidance Raised)
URI Stock Outperforms Peers, the Industry & the Market
Image Source: Zacks Investment Research
Shares of this Connecticut-based equipment rental company have surged 22.3% in the past three months, outperforming the Zacks Building Products - Miscellaneous industry, the broader Zacks Construction sector and the S&P 500 Index. Let us take a closer look at the factors shaping United Rentals stock’s prospects.
Strong Demand Supports URI’s Revenue VisibilityUnited Rentals is benefiting from stronger-than-expected customer demand, particularly across large projects. In the second quarter of 2026, total revenues increased 12% year over year to $4.4 billion, while rental revenues rose nearly 13% to a record $3.8 billion. Fleet productivity increased 3.4%, contributing to 9% growth in OER. Strong project activity during the first half also led the company to raise its 2026 revenue guidance to $17.5-$17.8 billion, up $500 million from the previous range.
The demand environment remains supported by large projects, which are expected to drive activity through the second half of 2026. The company is also seeing growth across construction and industrial markets, providing a broader base for rental demand. Higher project activity, combined with strong fleet utilization, should support revenue generation as the company enters the second half of the year.
Specialty Expansion Broadens URI’s Rental OpportunitiesUnited Rentals is gaining traction across its Specialty business, creating additional avenues for rental revenue growth. In the second quarter of 2026, Specialty rental revenues increased 25% year over year, with growth across all lines of business and 11 cold starts. Power posted double-digit growth, while metals and minerals also delivered healthy gains during the quarter.
The broad performance across Specialty strengthens United Rentals’ exposure to customers requiring more specialized equipment and services. Demand across power, infrastructure and other project-driven markets should provide opportunities to expand the business as customers undertake increasingly complex projects.
Diversified End Markets Strengthen URI’s Project ExposureUnited Rentals is benefiting from activity across a wide range of end markets rather than relying on a single source of demand. During the second quarter, projects began across hospitals, airports and LNG terminals, while data centers remained a source of growth. Construction activity was led by nonresidential and infrastructure projects, while power also delivered double-digit growth within the industrial business.
This diversified exposure provides a broader foundation for rental demand as project activity expands across different parts of the economy. Large infrastructure and industrial projects can also support demand for both general rental equipment and specialized products, allowing United Rentals to participate across multiple stages of project development.
Higher Fleet Investment Positions URI to Capture DemandUnited Rentals is increasing fleet investment to meet customer requirements as equipment utilization remains elevated. The company spent $2.9 billion on gross rental CapEx through the first half of 2026, more than $650 million above the prior-year period. Full-year gross CapEx guidance was raised $450 million to $4.85-$5.25 billion.
The higher investment should expand equipment availability as United Rentals responds to stronger project demand. The company expects historically high utilization levels to support the need for additional fleet, while continued investment should help it serve customers without relying solely on existing equipment capacity.
Strong Cash Generation Supports URI’s Financial FlexibilityUnited Rentals is generating significant cash while maintaining a disciplined approach to capital allocation. Free cash flow totaled roughly $1.15 billion year to date, while net leverage remained at 1.8x and total liquidity stood at almost $3 billion at the end of June. The company also returned $998 million to its shareholders through the first half, including $750 million in share repurchases and $248 million in dividends.
Financial flexibility gives United Rentals capacity to fund fleet expansion while maintaining shareholder returns. The company expects 2026 free cash flow of $2.15-$2.45 billion and plans to return roughly $2 billion to its shareholders through repurchases and dividends, supporting capital allocation while preserving flexibility for growth opportunities.
Earnings Estimate Trend of URIURI’s earnings estimates for 2026 and 2027 have moved upward over the past 30 days to $48.55 and $55.71 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year improvements of 15.4% and 14.7%, respectively.
Image Source: Zacks Investment Research
URI Stock Trading at a PremiumURI stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 21.6, as the trend lines suggest below.
Image Source: Zacks Investment Research
Competitive Position: United Rentals vs. Armstrong World, Argan & MascoUnited Rentals operates across a broad industrial and infrastructure market alongside Armstrong World Industries, Inc. (AWI - Free Report) , Masco Corporation (MAS - Free Report) and Argan, Inc. (AGX - Free Report) , which have exposure to construction, building products and infrastructure spending.
Armstrong World Industries provides ceiling, architectural specialty and interior solutions for commercial buildings. Its broad product portfolio, product differentiation and expansion into structural and containment solutions provide an advantage as demand grows across transportation and data center projects. However, the company faces inflationary pressure from freight, energy and raw material costs, which could affect profitability.
Meanwhile, Masco operates across plumbing and decorative architectural products, with brands spanning kitchen, bath and premium water products. Masco’s strong brands, product innovation, e-commerce capabilities and customer service support its competitive position across multiple channels. However, softer international demand in markets such as China and pressure from strategic investments could weigh on near-term sales performance.
Conversely, Argan provides engineering, procurement and construction services across power, industrial and Teledata markets. Argan’s experience with complex power projects, strong execution record and ability to handle large fixed-price contracts provide an advantage in an environment of rising power infrastructure demand. However, project timing can cause fluctuations in backlog and revenues, with gaps possible between the completion of projects and the award of new contracts.
United Rentals’ one-stop-shop model, broad specialty offerings, technology and distributed footprint provide a competitive advantage in terms of customer service, fleet utilization and ability to serve large projects. However, competition could increase as industry utilization improves and smaller rental players use available capacity, while supply constraints may limit how quickly additional equipment can be added.
How to Play URI Stock?United Rentals’ strong second-quarter performance, healthy rental demand and raised 2026 guidance support its growth prospects. Record rental revenues, higher fleet productivity and 25% growth in Specialty rental revenues highlight solid customer activity, while elevated utilization is driving additional fleet investment. Strong cash generation and a solid balance sheet also provide flexibility to support growth and shareholder returns.
Although URI trades at a premium valuation relative to the industry, upward earnings estimate revisions and expectations for more than 10% revenue growth at the midpoint of 2026 guidance support the higher multiple. With a Zacks Rank #2 (Buy) at present, United Rentals remains an attractive choice for investors seeking exposure to equipment rental and infrastructure-related activity. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways United Rentals raised 2026 revenue guidance to $17.5-$17.8 billion on stronger customer demand.URI's Specialty rental revenues jumped 24.8%, while General Rentals grew 6.6% in Q2.United Rentals lifted 2026 gross rental CapEx to $4.85-$5.25 billion as fleet use remains high. United Rentals, Inc. (URI - Free Report) appears to be entering the second half of 2026 with considerable momentum. The equipment rental giant raised its full-year 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion, reflecting stronger-than-expected customer demand and confidence in large projects. Adjusted EBITDA guidance was also lifted by $300 million to $7.975-$8.125 billion.
The underlying rental trends provide reason for optimism. Second-quarter 2026 total equipment rental revenues jumped 12.7% year over year to $3.85 billion. Specialty emerged as a key growth engine, with rental revenues increasing 24.8% to $1.43 billion. General Rentals also delivered healthy growth of 6.6%, while its rental gross margin expanded 70 basis points to 35.8%. Demand is being supported by large projects across diverse end markets. URI highlighted activity involving hospitals, airports and LNG terminals, while data centers continued to contribute to growth. Power posted double-digit industrial growth, with metals and minerals also expanding at a healthy pace.
To capitalize on this demand, URI increased its 2026 gross rental CapEx guidance to $4.85-$5.25 billion. Year-to-date gross rental CapEx already exceeded $2.9 billion, while historically high fleet utilization is prompting further investment.
However, elevated capital expenditure and Specialty margin pressure remain watch items. Still, with strong project visibility, disciplined costs and raised guidance, United Rentals appears well-positioned to test the upper end of its outlook.
United Rentals vs. Gibraltar vs. CRH: Who Has the Stronger Demand Runway?United Rentals appears to have the strongest near-term demand visibility when compared with CRH plc (CRH - Free Report) and Gibraltar Industries, Inc. (ROCK - Free Report) , supported by robust large-project activity and customer backlogs.
CRH enters the second half with favorable demand trends. Second-quarter 2026 revenues increased 6% year over year to $10.8 billion, aided by positive pricing, underlying demand and acquisitions. Its Road Solutions business benefited from project execution and backlog conversion, while transportation, water infrastructure and reindustrialization remain key growth drivers.
Conversely, Gibraltar offers a more mixed picture. Second-quarter 2026 sales surged 64.6%, helped by acquisitions and organic growth, but Agtech backlog declined 34% to $66.2 million due to project timing. Strong quoting activity provides some encouragement, although backlog visibility remains less compelling than URI’s and CRH’s.
Overall, URI appears best positioned for near-term growth, while CRH benefits from broad infrastructure demand. Gibraltar’s outlook hinges more heavily on backlog conversion and project timing.
URI Stock’s Price Performance & Valuation TrendShares of this Connecticut-based equipment rental company climbed 30.8% in the past six months, outperforming the Zacks Building Products - Miscellaneous industry, the broader Zacks Construction sector and the S&P 500 Index.
Image Source: Zacks Investment Research
URI stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 21.49, as the trend lines suggest below.
Image Source: Zacks Investment Research
Earnings Estimate Trend of URIURI’s earnings estimates for 2026 and 2027 have moved upward over the past seven days to $48.55 and $55.71 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year improvement of 15.4% and 14.7%, respectively.
Image Source: Zacks Investment Research
United Rentals currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Argent Capital Management LLC lowered its position in shares of United Rentals, Inc. (NYSE: URI) by 3.8% during the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,116 shares of the construction company's stock after selling 4,443 shares during the
Key Takeaways United Rentals delivered record Q2 revenue as rental activity, fleet size and productivity all improved.URI raised its 2026 revenue and adjusted EBITDA outlook on backlogs, momentum and large projects.United Rentals' specialty rental revenue rose 24.8% on broad equipment demand. United Rentals (URI - Free Report) gave investors a cleaner view of its growth runway after a record-setting second quarter. Rental activity rose, fleet productivity improved and specialty demand remained a major contributor.
The upgraded 2026 outlook matters because it links near-term execution with customer backlogs and large-project activity. For a rental company tied to construction and industrial spending, that visibility carries weight.
United Rentals Posts Record Rental RevenueRental revenues increased 12.7% year over year to $3.85 billion in the second quarter of 2026. Total revenues rose 11.8% to $4.41 billion, marking a quarterly record.
The quarter was supported by a 7.1% increase in average original equipment at cost, a measure of fleet size, and a 3.4% improvement in fleet productivity. Owned equipment rental revenues grew 9%, showing that demand was not limited to one revenue stream.
URI Raises Its 2026 Financial OutlookUnited Rentals raised its full-year revenue outlook to $17.5 billion-$17.8 billion from $16.9 billion-$17.4 billion. Adjusted earnings before interest, taxes, depreciation and amortization guidance increased to $7.98 billion-$8.13 billion from $7.63 billion-$7.88 billion.
Management cited customer backlogs, year-to-date momentum and continued large-project activity as support for the higher outlook. Hospitals, airports, liquefied natural gas terminals and data centers were among the project categories supporting demand.
United Rentals Expands Specialty DemandSpecialty segment equipment rental revenues climbed 24.8% year over year to $1.43 billion. The segment remains a key part of URI’s broader strategy because it adds product depth beyond general rental equipment.
Demand was broad across trench safety, power and heating, ventilation and air conditioning, fluid solutions, mobile storage, matting, tools and site services. That breadth helps the company serve complex worksites through bundled rental solutions.
Argan, Inc. (AGX - Free Report) , a service provider to the power industry, also sits near the large-project theme because energy infrastructure can require extensive equipment and construction services. Masco Corporation (MAS - Free Report) , a manufacturer of branded home improvement and building products, offers a different read on construction-related demand, especially through repair, remodeling and new construction channels.
URI Balances Growth With Margin RiskGrowth did not remove the margin questions. Specialty equipment rental gross margin fell 140 basis points to 44.4% as lower-margin ancillary and re-rent revenues grew faster than owned equipment rentals.
Ancillary and re-rent revenues increased nearly 28%, roughly three times the growth rate of owned equipment rental revenues. Lower labor and benefit costs as a percentage of revenues partly offset that pressure, while broader revenue growth and cost-management efforts helped keep profitability from weakening across the business.
United Rentals Signals Strong Near-Term MomentumThe bottom line is that URI enters the second half of 2026 with rental demand, fleet investment and specialty growth working in its favor. Margin mix remains the main offset, especially if ancillary and re-rent activity continues to expand faster than owned equipment rentals.
The stock currently carries a Zacks Rank #1 (Strong Buy), which points to a favorable short-term earnings estimate revision picture over the next one to three months. Its Growth Score of B, Momentum Score of B and VGM Score of B add support for investors focused on growth characteristics, price trends and a blended style profile. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Value Score of C is more neutral, reflecting a less compelling valuation setup. For investors, that makes URI a growth and momentum story with a valuation profile that requires discipline.
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of March 31, 2026, it operated a branch network of 1,767 global locations, including 1,658 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $22.59 billion as of March 31, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Construction stock. URI has a Momentum Style Score of B, and shares are up 0.5% over the past four weeks.
For fiscal 2026, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.31 to $48.35 per share. URI boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, URI should be on investors' short list.
Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, July 28th:
OptimumBank (OPHC - Free Report) : This company, which offers real estate lending and retail banking products to individuals and businesses, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 16.5% over the last 60 days.
OptimumBank's shares gained 20.6% over the last three month compared with the S&P 500’s gain of 3.9%. The company possesses a Momentum Score of A.
Northern Trust (NTRS - Free Report) : This company, which provides wealth management, asset servicing, asset management and banking solutions to corporations, institutions, families, and individuals, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 8% over the last 60 days.
Northern Trust's shares gained 9.9% over the last three month compared with the S&P 500’s gain of 3.9%. The company possesses a Momentum Score of A.
United Rentals (URI - Free Report) : This company, which is the largest equipment rental company in the world, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.8% over the last 60 days.
United Rentals' shares gained 17.4% over the last three month compared with the S&P 500’s gain of 3.9%. The company possesses a Momentum Score of B.
See the full list of top ranked stocks here
Learn more about the Momentum score and how it is calculated here.
Key Takeaways URI trades above its sub-industry, sector, S&P 500 and five-year median forward earnings multiples.United Rentals posted Q2 earnings and revenue beats, driven by higher rental demand and record EBITDA.URI lifted 2026 guidance, but cyclical demand, higher fleet spending and competition remain key risks. United Rentals, Inc. (URI - Free Report) has given investors plenty to weigh after a 39.4% year-to-date share gain. The rally has followed stronger earnings, improving estimate trends and a higher 2026 outlook.
The question is whether the stock still offers enough upside after that move. URI’s operating momentum is clear, but its valuation now stands above several relevant benchmarks.
URI Valuation Sits Above Key BenchmarksURI trades at 22.08 times forward 12-month earnings. That compares with 18.15 times for its Zacks sub-industry, 20.66 times for the broader Zacks sector and 20.11 times for the S&P 500 index.
The premium also looks notable against the company’s own history. URI’s current multiple is above its five-year median of 14.19 times, which makes valuation discipline more important after the earnings-fueled rally.
Masco Corporation (MAS - Free Report) , a branded home improvement and building products company, offers one comparison point for investors looking across construction-related exposure. Armstrong World Industries, Inc. (AWI - Free Report) , known for ceiling and wall system solutions, provides another peer context within the broader building products group.
United Rentals Delivers Earnings and Sales BeatsUnited Rentals backed up the stock move with a strong second-quarter 2026 report. Adjusted earnings came in at $12.76 per share, up 21.9% from the prior-year quarter and 9.3% above the Zacks Consensus Estimate.
Revenues also topped expectations, with total revenues of $4.41 billion beating the consensus mark by 4.1%. Adjusted EBITDA rose 13.6% to a quarterly record of $2.06 billion, showing that the company converted higher demand into improved profit dollars.
Rental activity was the core driver. Rental revenues increased 12.7% to $3.85 billion, supported by growth across General Rentals and Specialty.
URI Estimate Revisions Support the Bull CaseEstimate revisions add support to the bullish argument. The fiscal 2026 earnings per share estimate increased 3.4% over the past four weeks, while projected earnings per share growth for the current fiscal year stands at 15.9%.
Those revisions matter because they point to improving expectations rather than only backward-looking results. URI also raised its 2026 revenue outlook to $17.5-$17.8 billion and adjusted EBITDA guidance to $7.98-$8.13 billion.
The balance sheet adds another positive. Net leverage improved to 1.8X at the end of the second quarter from 1.9X at the end of 2025, staying within management’s 1.5X-2.5X target range.
United Rentals Faces Cyclical and Capital RisksThe investment case is not without risk. United Rentals remains exposed to construction and industrial cycles, where a slowdown can pressure rental volumes, utilization and pricing.
Capital spending is another area to watch. Management raised gross rental capital expenditure guidance to $4.85-$5.25 billion because demand and time utilization remain high.
That fleet investment can support growth if large projects continue. It could weigh on returns if activity slows or added equipment is not absorbed efficiently.
Competition also remains a concern. The equipment rental industry includes national rivals, regional operators, independent rental companies, dealers and equipment vendors, which can pressure pricing or utilization.
URI Scores Point to Growth With Valuation CautionThe bottom line is that URI still has a credible earnings-driven case, but the stock no longer looks inexpensive. Its earnings beats, higher guidance and upward estimate revisions support the rally, while the premium multiple raises the bar for execution.
URI currently carries a Zacks Rank #1 (Strong Buy). That rank reflects a favorable short-term earnings estimate revision profile over a one- to three-month horizon. You can see the complete list of today’s Zacks #1 Rank stocks here.
The stock also has a Growth Score of B, Momentum Score of B and VGM Score of B. These scores point to favorable growth and price-trend characteristics when viewed alongside the Zacks Rank.
The Value Score of C is the caution flag. It aligns with URI’s premium forward earnings multiple and supports a positive, but valuation-aware, stance on the stock.
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Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
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For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: United Rentals (URI - Free Report) Headquartered in Stamford, CT, United Rentals, Inc. is the largest equipment rental company in the world. As of March 31, 2026, it operated a branch network of 1,767 global locations, including 1,658 in North America, with a smaller presence in Europe, Australia and New Zealand. In North America, the company operates in 49 U.S. states and every Canadian province. The rental fleet had a total original equipment cost (“OEC”) of $22.59 billion as of March 31, 2026, and the company offers approximately 4,800 classes of equipment for rent on an hourly, daily, weekly, or monthly basis. Equipment rentals represented 86% of total revenues in 2025.
URI is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. URI has a Growth Style Score of B, forecasting year-over-year earnings growth of 12.5% for the current fiscal year.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.28 to $47.32 per share. URI boasts an average earnings surprise of +1%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, URI should be on investors' short list.
Arrowstreet Capital Limited Partnership grew its stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) by 81.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 230,238 shares of the construction company’s stock after acquiring an additional 103,039 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.37% of United Rentals worth $167,742,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Woodline Partners LP raised its stake in United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,577 shares during the period. Sei Investments Co. raised its position in United Rentals by 24.7% during the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock valued at $20,444,000 after buying an additional 5,375 shares during the period. Treasurer of the State of North Carolina lifted its stake in United Rentals by 43.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after acquiring an additional 17,030 shares in the last quarter. HUB Investment Partners LLC boosted its position in United Rentals by 11.3% during the 2nd quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after acquiring an additional 223 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in United Rentals by 338.7% during the 2nd quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,277 shares during the period. 96.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling In related news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the transaction, the executive vice president directly owned 14,774 shares in the company, valued at $14,227,362. This represents a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $954.99, for a total transaction of $292,226.94. Following the completion of the sale, the senior vice president directly owned 5,738 shares of the company’s stock, valued at approximately $5,479,732.62. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by insiders.
Analyst Ratings Changes A number of brokerages have recently weighed in on URI. Wells Fargo & Company upped their target price on United Rentals from $1,245.00 to $1,355.00 and gave the company an “overweight” rating in a report on Friday. Bank of America raised their price target on shares of United Rentals from $1,195.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday. Sanford C. Bernstein set a $903.00 price objective on shares of United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Barclays upped their price objective on shares of United Rentals from $715.00 to $950.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Weiss Ratings lowered shares of United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, United Rentals currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,226.50.
View Our Latest Stock Analysis on United Rentals
Key Stories Impacting United Rentals Here are the key news stories impacting United Rentals this week:
Positive Sentiment: JPMorgan raised its price target on United Rentals to $1,235 and kept an overweight rating, signaling confidence in continued upside. JPMorgan price target increase Positive Sentiment: Truist boosted its target to $1,466 and maintained a buy rating, reflecting a more optimistic view of URI’s earnings power and demand trends. Truist price target increase Positive Sentiment: Citigroup raised its target to $1,330 with a buy rating after the company’s strong Q2 results and improved guidance. Citigroup price target increase Positive Sentiment: Bank of America increased its target to $1,300 and reiterated a buy rating, adding to the positive analyst momentum around the stock. Bank of America price target increase Positive Sentiment: United Rentals reported Q2 earnings of $12.76 per share and revenue of $4.41 billion, both ahead of expectations, and raised full-year guidance on stronger rental growth and demand. Q2 earnings beat and guidance raise Neutral Sentiment: The company also declared a quarterly dividend of $1.97 per share, which is a modest shareholder-return update but not likely the main driver of today’s trading. Dividend announcement United Rentals Stock Up 0.0% URI stock opened at $1,140.19 on Friday. The stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. The company has a 50-day moving average of $1,052.87 and a two-hundred day moving average of $919.10. United Rentals, Inc. has a 52-week low of $701.59 and a 52-week high of $1,177.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.76 and a quick ratio of 0.74.
United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $12.76 EPS for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. United Rentals had a return on equity of 31.72% and a net margin of 15.67%.The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $10.47 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that United Rentals, Inc. will post 46.85 EPS for the current year.
United Rentals Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $1.97 dividend. This represents a $7.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, August 12th. United Rentals’s payout ratio is currently 18.92%.
United Rentals Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
Read More Five stocks we like better than United Rentals AMD and Cerbras Create A New Blueprint For Hardware Intel Earnings Reveal Whether the Chip Selloff Created a Buy CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test Plugging In: How Kinder Morgan Powers Up Profits Want to see what other hedge funds are holding URI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Rentals, Inc. (NYSE:URI – Free Report).
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William E. Grace, EVP, CFO at United Rentals, Inc. (URI +0.17%), sold 1,500 shares of common stock on July 24, 2026, according to a SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$1.7 millionShares sold1,500Post-transaction shares (directly held)6,061Post-transaction value$6.92 millionTransaction value based on SEC Form 4 weighted average sale price ($1,133.15); post-transaction value based on July 24, 2026 market close ($1,141.59).
Key questionsHow does this sale align with the stock's recent performance?
The sale was executed at $1,133.15 per share, following a one-year return of 30% for United Rentals as of the July 24, 2026 transaction date.What is the scale of the executive's remaining equity position?
Following the sale, Grace maintains direct ownership of 6,061 shares, representing a market value of $6.92 million as of the July 24, market close.Company OverviewMetricValueShare Price (as of market close 2026-07-23)$1,139.71Market Capitalization$71.1 billionRevenue (TTM)$16.8 billionNet Income (TTM)$2.6 billionCompany SnapshotUnited Rentals operates as a leading equipment rental provider offering a comprehensive portfolio of construction and industrial machinery, aerial work platforms, and specialty equipment through its General Rentals and Specialty divisions, generating the majority of revenues from equipment rental and related services.The company operates a capital-intensive rental business model that generates recurring revenue through equipment leasing to construction, industrial, and commercial customers, supplemented by ancillary services including equipment maintenance, delivery, and specialized technical support.The company serves a diverse customer base, including construction contractors, industrial manufacturers, energy companies, and commercial enterprises, with particular strength in serving mid-market and large-scale construction and infrastructure projects across North America.United Rentals, Inc. is the largest equipment rental company in North America with a market capitalization of $71.1 billion and TTM revenues of $16.8 billion, reflecting its dominant position in the fragmented rental and leasing services industry. The company leverages an extensive fleet of equipment, strategic geographic distribution across North America, and a diversified customer base to maintain competitive advantages in pricing power and service delivery. With 28,500 employees and a 30.43% one-year stock price appreciation, United Rentals demonstrates strong operational execution and capital allocation discipline in a cyclical yet structurally growing market.
What this transaction means for investorsUnited Rentals CEO William Grace sold 1,500 shares two days after the company reported record quarterly results and raised annual guidance. Shares popped more than 10% on that news. Grace’s share sale was timely, as United Rentals’ stock is at an all-time high.
That doesn’t mean the company CFO is calling a top, though. Grace still holds over 6,000 shares. Company executives sell stock for many reasons, including for personal spending needs.
The company raised full-year revenue, earnings, and operating cash guidance after the strong results. United Rentals CEO Matthew Flannery stated, “Looking ahead, I am very pleased that we are again raising our guidance for the year, supported by the tailwinds we see across large projects, customer backlogs, and the momentum witnessed year-to-date.”
Investors should take note. Business from reshoring manufacturing, growing data center construction, energy projects, and infrastructure investments should continue to provide a strong base for the company.
Today's Change
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Investors shouldn’t worry about the CFO’s share sale. The company’s underlying business is well-positioned for further growth. More record results could easily keep shares moving to new record highs.
Key Takeaways United Rentals topped Q2 earnings estimates, raised its 2026 view and cited accelerating large-project demand.Specialty rental revenues rose 24.8% y/y to a record $1.43B, with growth across all seven business lines.URI lifted its gross CapEx guidance to $4.85-$5.25B as record utilization supported added fleet investment. United Rentals, Inc. (URI - Free Report) highlighted accelerating demand, record utilization and a stronger outlook during its second-quarter 2026 earnings call. Management raised its full-year guidance as large projects and customer activity exceeded prior expectations.
Executives emphasized capital discipline, specialty rental growth and operational execution as the key themes, while analyst questions focused on margins, capacity expansion and the durability of current demand trends.
URI Sees Demand Momentum ContinueCEO Matthew Flannery said that United Rentals is benefiting from strong customer activity, particularly around large projects, while its technology, service model and broad fleet offering continue to differentiate the business.
URI reported second-quarter adjusted earnings per share of $12.76, beating the Zacks Consensus Estimate of $11.67. Revenues were $4.41 billion, surpassing the Zacks Consensus Estimate of $4.24 billion.
Management pointed to construction, infrastructure and industrial activity as important contributors, with projects involving hospitals, airports, LNG terminals and data centers supporting demand.
United Rentals Expands Specialty ReachUnited Rentals said that specialty rental revenues increased 24.8% year over year to a quarterly record of $1.43 billion. The company reported growth across all seven specialty business lines.
Flannery noted that complex customer projects require broader service capabilities, supporting demand for the company’s one-stop-shop approach. Specialty offerings such as power, HVAC, tools and matting continued to gain traction.
The company also highlighted strength in power-related demand, which management said represents an important growth area with continued organic expansion opportunities.
URI Raises CapEx Behind UtilizationURI increased its gross rental capital expenditure guidance after demand exceeded earlier expectations. Management said that historically high time utilization levels supported additional fleet investment.
The company raised its gross CapEx guidance to $4.85-$5.25 billion from the prior mentioned $4.4-$4.8 billion. Net rental capital expenditure is expected to be $3.4-$3.8 billion.
Flannery said that the company is adding fleet based on confidence in project visibility rather than simply pursuing near-term revenue opportunities. Management expects large-project demand trends to continue into the following year.
United Rentals Addresses Margin PressureURI discussed margin dynamics as analysts questioned the impacts of fuel costs, delivery expenses and ancillary revenue growth. CFO William Grace said that cost execution remained a priority.
The adjusted EBITDA margin was 46.6% in the quarter. Excluding the benefits from the sale of part of the scaffolding business, management said that the underlying margin performance reflected ongoing cost actions.
Grace noted that labor, delivery and repair-related costs showed positive absorption trends, while higher ancillary and re-rent revenue growth created some margin mix pressure.
URI Highlights Capital StrengthURI maintained a focus on shareholder returns and balance sheet flexibility. The company ended the quarter with a net leverage ratio of 1.8X and total liquidity of nearly $3 billion.
Management said that it returned $998 million to shareholders year to date through share repurchases and dividends. The company expects to complete $1.5 billion in share repurchases in 2026.
The company also discussed potential credit improvement after S&P raised its outlook, while management continued to emphasize maintaining financial flexibility for growth and capital returns.
United Rentals Maintains Strategic FocusAnalysts questioned whether improving local markets, acquisitions and industry consolidation could provide additional growth opportunities. Management said that consolidation remains part of the equipment rental industry’s evolution.
Flannery said that the company continues evaluating acquisitions, particularly opportunities that expand specialty offerings or address portfolio gaps. He noted that current growth is primarily organic.
Management’s overall message centered on continued execution, disciplined investment and supporting customers through large-scale projects while preserving returns.
Zacks Rank & Style ScoresURI currently carries a Zacks Rank #2 (Buy). The Zacks Rank focuses on earnings estimate revisions and is designed to help identify stocks with stronger potential relative performance over the next one to three months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has a Value Score of C, a Growth Score of B, a Momentum Score of C and a VGM Score of B. Zacks Style Scores range from A to F, with stronger scores indicating more favorable characteristics for their respective investment styles.
The combination of a Zacks Rank #2 and a VGM Score of B reflects favorable characteristics across the combined value, growth and momentum measures. The Zacks Rank can change as analysts update earnings estimates following the quarterly results.
The 3 Biggest M&A Stock Opportunities for 2025United Rentals NYSE: URI reported record second-quarter revenue and earnings while raising its 2026 outlook, as management said large projects and specialty rental demand continued to run ahead of expectations.
President and CEO Matt Flannery said the company’s growth “accelerated in the quarter,” supported by customers that “remain optimistic, particularly around large projects,” along with continued cost discipline. He said the company’s equipment breadth, technology, service levels and safety focus continue to differentiate United Rentals in the market.
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3 large caps near 52-week lows with large dividendsTotal revenue rose 12% year over year to $4.4 billion, while rental revenue increased nearly 13% to $3.8 billion. Both were quarterly records, according to Flannery. Adjusted EBITDA was just over $2 billion, representing a margin of 46.6%, and adjusted earnings per share were $12.76, up 22% from a year earlier and also a quarterly record.
Large Projects and Specialty Rentals Drive Growth Flannery said United Rentals saw growth in both its General Rentals and specialty businesses. Specialty rental revenue increased 25% year over year, with growth across all lines of business and 11 cold starts during the quarter.
3 Compelling Cyclical Stocks to Buy NowBy vertical, Flannery said construction posted strong growth, led by nonresidential and infrastructure activity. On the industrial side, power continued to deliver double-digit growth, while metals and minerals also grew at a healthy pace. He said project activity started in a range of end markets, including hospitals, airports and LNG terminals, while data centers remained a source of growth.
During the question-and-answer portion of the call, Flannery said the major project pipeline was “stronger and deeper,” citing activity tied to power, semiconductor projects, infrastructure, airports, stadiums and pharmaceuticals. He also said semiconductor-related work and power projects accelerated in the second quarter.
Local markets, by contrast, were described as stable with modest growth. Flannery said local customer activity grew in the low single digits and suggested that lower interest rates, residential construction growth and renewed small-business investment could help spur broader local market improvement.
Fleet Productivity, CapEx and Used Equipment Sales Fleet productivity contributed 3.4% to original equipment rental, or OER, growth of 9% in the quarter, Flannery said. CFO Ted Grace said OER increased by $246 million, driven by 7.1% growth in average fleet size and fleet productivity of 3.4%, partially offset by assumed fleet inflation of 1.5%.
Ancillary and re-rent revenue grew nearly 28%, adding a combined $188 million, Grace said. He noted that the company has been able to pass through higher fuel and delivery costs, though those revenues brought limited incremental margin dollars.
United Rentals sold $624 million of original equipment cost, or OEC, in the used market during the quarter, generating $330 million in proceeds, an adjusted margin of 47.3% and a 52.9% recovery rate. Flannery said the company remains on track to sell approximately $2.8 billion of fleet this year, supported by strong used equipment demand.
The company spent nearly $2.1 billion on gross rental capital expenditures in the second quarter and $2.9 billion year to date, exceeding its initial expectations. Flannery said the demand environment is outpacing the company’s original expectations, and the company is operating at “historically high time utilizations.”
In response to analyst questions, Flannery said United Rentals would not add fleet simply to chase late-2026 revenue. He said the company has confidence in the large project pipeline carrying into next year, though management did not provide 2027 guidance.
Margins and Cost Controls Remain in Focus Grace said adjusted EBITDA, excluding a $49 million net benefit from the sale of the company’s scaffolding business, increased $197 million year over year to a second-quarter record of just over $2 billion. The increase was primarily driven by a $231 million increase in rental gross profit and a $3 million increase in used gross profit. Selling, general and administrative expense rose $39 million but was flat as a percentage of revenue.
On an as-reported basis, second-quarter adjusted EBITDA margin increased 70 basis points year over year. Excluding the scaffolding gain and the outsized growth in ancillary and re-rent revenue, Grace said margins increased 40 basis points year over year, which he said provided a better view of core cost performance.
Management fielded several analyst questions about delivery, repositioning, labor and repair costs. Grace said the company’s core cost categories of labor, delivery and repair and maintenance showed positive absorption year to date and in the second quarter. Flannery said the company has changed processes and increased coordination to better manage delivery and repositioning costs, despite higher fuel costs.
Grace said higher internal fuel costs represented an incremental 20 to 30 basis points of year-over-year headwind in the quarter. He also said the company realized approximately $12 million of second-quarter benefit from restructuring activities and remains on track for $45 million to $50 million of realized savings in 2026.
Guidance Raised for 2026 United Rentals raised its full-year 2026 guidance, with management saying demand continued to exceed expectations as the company progressed through its busy season.
Total revenue: Now expected between $17.5 billion and $17.8 billion, up $500 million from prior guidance. Adjusted EBITDA: Raised by $300 million to a range of $7.975 billion to $8.125 billion. Gross rental CapEx: Increased by $450 million to a range of $4.85 billion to $5.25 billion. Net CapEx: Expected between $3.4 billion and $3.8 billion. Free cash flow: Reaffirmed at $2.15 billion to $2.45 billion. Used equipment sales: Still expected around $1.45 billion. Grace said the updated outlook implies full-year growth excluding used sales of more than 10% at the midpoint, compared with original guidance closer to 6%. He said the company still expects to maintain flat margins year over year while bringing revenue growth to the bottom line.
Balance Sheet and Capital Returns United Rentals generated nearly $1.2 billion of free cash flow year to date after funding growth, according to Flannery. Grace said return on invested capital was 11.8%, remaining above the company’s weighted average cost of capital.
Net leverage was 1.8 times at the end of June, within the company’s target range of 1.5 times to 2.5 times, and total liquidity was nearly $3 billion. Grace said S&P recently raised the company’s credit outlook to positive from stable, with the potential for an upgrade from high yield to investment grade within the next 12 months.
Grace said a potential investment-grade rating would not change United Rentals’ capital allocation strategy, adding that management believes the company can pursue an upgrade without constraining its ability to execute on mergers and acquisitions.
The company returned nearly $500 million to shareholders during the quarter through share repurchases and dividends. Year to date, it has returned $998 million, including $750 million through repurchases and $248 million through dividends. Grace said United Rentals still intends to repurchase $1.5 billion of shares in 2026, and combined with the dividend, expects to return roughly $2 billion to shareholders this year.
Flannery said the M&A pipeline remains “robust,” with opportunities across deal sizes. He said specialty rental offerings and new product areas remain priorities, while the company also continues to evaluate deals that could fill geographic or product gaps.
About United Rentals (NYSE:URI)United Rentals, Inc NYSE: URI is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company's product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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Marek Kameništiak
Fio banka, a.s.
Prohlášení
United Rentals, Inc. (URI) Q2 2026 Earnings Call July 23, 2026 8:30 AM EDT
Company Participants
Matthew Flannery - President, CEO & Director
William Grace - Executive VP & CFO
Conference Call Participants
David Raso - Evercore ISI Institutional Equities, Research Division
Robert Wertheimer - Melius Research LLC
Michael Feniger - BofA Securities, Research Division
Steven Fisher - UBS Investment Bank, Research Division
Jerry Revich - Wells Fargo Securities, LLC, Research Division
Kyle Menges - Citigroup Inc., Research Division
Kenneth Newman - KeyBanc Capital Markets Inc., Research Division
Seth Weber - BNP Paribas, Research Division
Mircea Dobre - Robert W. Baird & Co. Incorporated, Research Division
Jamie Cook - Truist Securities, Inc., Research Division
Angel Castillo Malpica - Morgan Stanley, Research Division
Sabahat Khan - RBC Capital Markets, Research Division
Tami Zakaria - JPMorgan Chase & Co, Research Division
Charles Albert Dillard - Bernstein Institutional Services LLC, Research Division
Presentation
Operator
Good morning, everyone, and welcome to the United Rentals Investor Conference Call. Please be advised that this call is being recorded.
Before we begin, please note that the company's press release, comments made on today's call and responses to your questions contain forward-looking statements. The company's business and operations are subject to a variety of risks and uncertainties, many of which are beyond its control. And consequently, actual results may differ materially from those projected. A summary of these uncertainties is included in the safe harbor statement contained in the company's press release.
For a more complete description of these and other possible risks, please refer to the company's annual report on Form 10-K for the year ended December 31, 2025, as well as the subsequent filings with the SEC. You can access these filings on the company's website at www.unitedrentals.com. Please note that United Rentals has no obligation and makes no commitment to update or publicly release any revisions to forward-looking statements in order to
Key Takeaways United Rentals' Q2 revenues rose 11.8%, while adjusted earnings increased 21.9% year over year.Record rental revenues climbed 12.7%, supported by 3.4% fleet productivity growth and specialty demand.United Rentals raised its 2026 revenue outlook to $17.5-$17.8 billion on strong project activity. United Rentals, Inc. (URI - Free Report) reported solid second-quarter 2026 results, with adjusted earnings per share and total revenues beating the Zacks Consensus Estimate and increasing year over year.
Record rental revenues, higher fleet productivity and robust specialty demand supported the results. Fleet productivity improved 3.4% year over year.
URI stock gained 8.3% during yesterday’s after-hours, following the earnings release.
URI's Q2 Earnings & RevenuesURI posted adjusted earnings of $12.76 per share, up 21.9% from $10.47 a year ago and surpassing the Zacks Consensus Estimate of $11.67 by 9.3%.
Total revenues advanced 11.8% to $4.41 billion and topped the consensus mark of $4.24 billion by 4.1%.
URI’s Rental Revenues Reach a Quarterly RecordRental revenues increased 12.7% year over year to a quarterly record of $3.85 billion. Average original equipment at cost, or OEC, rose 7.1%.
Owned equipment rental revenues increased 9% to $2.99 billion from $2.75 billion. Re-rent revenues rose 46.7% to $88 million, while ancillary and other rental revenues advanced 26.2% to $770 million.
Sales of rental equipment increased 4.1% to $330 million. Sales of new equipment rose 14.7% to $86 million, contractor supplies sales increased 7.3% to $44 million and service and other revenues grew 6.3% to $101 million.
United Rentals Sees Specialty Growth AccelerateGeneral Rentals segment equipment rental revenues increased 6.6% year over year to $2.42 billion. Equipment rental gross profit rose 8.7% to $865 million, while gross margin expanded 70 basis points to 35.8%.
Specialty segment equipment rental revenues rose 24.8% to $1.43 billion. Gross profit increased 21.1% to $636 million, but gross margin contracted 140 basis points to 44.4%. The decline reflected a revenue mix shift toward lower-margin ancillary and re-rent revenues, partly offset by lower labor and benefit expenses as a percentage of revenues.
United Rentals' Profitability ImprovesGross profit increased to $1.73 billion from $1.53 billion. The gross margin improved to 39.3% from 38.9%, as revenue growth outpaced the increase in cost of revenues.
Adjusted EBITDA rose 13.6% to a quarterly record of $2.06 billion. The adjusted EBITDA margin expanded 70 basis points to 46.6%, including a $49 million gain from the sale of part of the scaffolding business. Excluding that gain, the margin declined 40 basis points due mainly to the Specialty Rentals mix pressure.
Net income increased 21.1% to a second-quarter record of $753 million. Net income margin expanded 130 basis points to 17.1%, including a $37 million after-tax benefit from the scaffolding transaction.
United Rentals Maintains Financial FlexibilityFor the first six months of 2026, net cash provided by operating activities increased 20.1% to $3.31 billion. Free cash flow declined 4.1% to $1.15 billion, including restructuring-related payments and gross rental equipment purchases of $2.72 billion.
URI ended June with liquidity of $3 billion, including $112 million in cash and equivalents. Its net leverage ratio improved to 1.8x from 1.9x at the end of 2025.
The company returned $998 million to its shareholders during the first half of 2026, comprising $750 million in share repurchases and $248 million in dividends. United Rentals expects to repurchase $1.5 billion of shares in 2026 and declared a quarterly dividend of $1.97 per share.
URI Raises Key 2026 Guidance RangesManagement raised its 2026 revenue outlook to $17.5-$17.8 billion from $16.9-$17.4 billion. The adjusted EBITDA forecast increased to $7.98-$8.13 billion from $7.63-$7.88 billion.
United Rentals now expects net cash provided by operating activities of $5.85-$6.65 billion, compared with the prior projection of $5.4-$6.2 billion. The free cash flow outlook, excluding restructuring-related payments, was maintained at $2.15-$2.45 billion.
Net rental capital expenditures are projected at $3.4-$3.8 billion after gross purchases of $4.85-$5.25 billion. Management cited large-project activity, customer backlogs and year-to-date momentum as factors supporting the higher outlook.
URI’s Zacks Rank & Recent Construction ReleasesCurrently, United Rentals carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PulteGroup, Inc. (PHM - Free Report) reported better-than-expected second-quarter 2026 results, with adjusted earnings and total revenues topping the Zacks Consensus Estimate, but declining year over year. The quarterly results reflect reduced home-closing volumes, softer average selling prices (ASP) and margin compression.
PulteGroup ended the quarter with a backlog of 10,966 homes, up 1.7% from the prior-year level. Backlog units increased in the Northeast, Florida, Midwest and Texas, while the Southeast and West reported declines. The value of homes in backlog slipped 0.6% to $6.80 billion. The divergence between higher units and lower value indicates that the average value of homes in backlog declined year over year, consistent with PHM’s broader pricing pressure.
D.R. Horton, Inc. (DHI - Free Report) reported third-quarter fiscal 2026 earnings of $3.20 per share, beating the Zacks Consensus Estimate of $2.99 by 7%. Revenues of $9.23 billion also surpassed the consensus mark of $9.19 billion by 0.5%. On a year-over-year basis, earnings declined 4.8%, while revenues increased marginally.
DHI’s earnings and revenue beat was driven by higher home-closing volumes, resilient home sales margins, disciplined management of pricing and incentives, and contributions from the Rental, Forestar and Financial Services businesses. However, lower profitability, elevated incentives and cautious consumer demand continued to weigh on results. D.R. Horton now expects fiscal 2026 consolidated revenues of $32.5-$33 billion, down from $33.5-$34.5 billion expected earlier.
Lennar Corporation (LEN - Free Report) reported mixed second-quarter fiscal 2026 results, with adjusted earnings topping the Zacks Consensus Estimate while revenues missed the same. Year over year, both metrics declined, given ongoing softness in housing demand and a lower ASP for homes delivered.
LEN’s Homebuilding revenues declined 2% year over year to $7.62 billion from $7.84 billion, with home deliveries increasing 2% to 20,519 homes from 20,131 homes a year ago. Backlog at quarter-end increased to 16,818 homes from 15,538 homes. For the third quarter of fiscal 2026, Lennar expects home deliveries in the range of 20,500-21,500 and new orders between 21,000 and 22,000 homes. Gross margin on home sales is expected to be approximately 16%.
ABN Amro Investment Solutions grew its position in United Rentals, Inc. (NYSE:URI – Free Report) by 25.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,758 shares of the construction company’s stock after purchasing an additional 1,802 shares during the period. ABN Amro Investment Solutions’ holdings in United Rentals were worth $6,381,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in URI. Woodline Partners LP raised its holdings in shares of United Rentals by 40.0% during the 1st quarter. Woodline Partners LP now owns 5,518 shares of the construction company’s stock valued at $3,458,000 after purchasing an additional 1,577 shares in the last quarter. Sei Investments Co. boosted its holdings in United Rentals by 24.7% in the second quarter. Sei Investments Co. now owns 27,136 shares of the construction company’s stock worth $20,444,000 after purchasing an additional 5,375 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in United Rentals by 43.6% in the second quarter. Treasurer of the State of North Carolina now owns 56,057 shares of the construction company’s stock worth $42,233,000 after purchasing an additional 17,030 shares in the last quarter. HUB Investment Partners LLC increased its position in United Rentals by 11.3% during the second quarter. HUB Investment Partners LLC now owns 2,205 shares of the construction company’s stock worth $1,661,000 after buying an additional 223 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its position in United Rentals by 338.7% during the second quarter. Diversify Advisory Services LLC now owns 1,654 shares of the construction company’s stock worth $1,246,000 after buying an additional 1,277 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets In other United Rentals news, EVP Craig Adam Pintoff sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total value of $2,374,758.00. Following the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew John Flannery sold 22,768 shares of United Rentals stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares in the company, valued at approximately $98,478,300.40. This represents a 18.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,088 shares of company stock worth $25,628,877 over the last quarter. 0.47% of the stock is currently owned by company insiders.
United Rentals News Summary Here are the key news stories impacting United Rentals this week:
Positive Sentiment: United Rentals reported Q2 EPS of $12.76, beating Wall Street estimates, while revenue of $4.41 billion also topped forecasts. United Rentals (URI) Beats Q2 Earnings and Revenue Estimates Positive Sentiment: The company said quarterly results were record highs for revenue, rental revenue, EPS, and adjusted EBITDA, signaling continued demand in its core equipment rental business. United Rentals jumps after record Q2 results and higher 2026 guidance Positive Sentiment: Management raised 2026 guidance, including higher revenue and adjusted EBITDA targets, which suggests stronger expected performance for the rest of the year. United Rentals jumps after record Q2 results and higher 2026 guidance Neutral Sentiment: Some older analyst commentary remained mixed, including a recent Barclays sell rating, but that appears to have been outweighed by the strong earnings beat and improved outlook. Barclays Gives a Sell Rating to United Rentals (URI) Analyst Ratings Changes A number of brokerages have weighed in on URI. KeyCorp boosted their price target on United Rentals from $1,150.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price objective on the stock in a report on Monday, June 29th. UBS Group raised their price objective on United Rentals from $1,145.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Morgan Stanley boosted their target price on United Rentals from $1,030.00 to $1,165.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Sanford C. Bernstein set a $903.00 target price on United Rentals and gave the stock an “outperform” rating in a report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,140.00.
Get Our Latest Stock Report on United Rentals
United Rentals Stock Performance Shares of URI opened at $1,034.28 on Thursday. The company has a market capitalization of $64.80 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.62 and a beta of 1.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. United Rentals, Inc. has a one year low of $701.59 and a one year high of $1,143.69. The company’s fifty day moving average price is $1,045.86 and its 200 day moving average price is $915.44.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.53 by $1.23. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.47 earnings per share. As a group, analysts expect that United Rentals, Inc. will post 46.85 earnings per share for the current year.
About United Rentals (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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Baader Bank Aktiengesellschaft purchased a new stake in shares of United Rentals, Inc. (NYSE:URI – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 547 shares of the construction company’s stock, valued at approximately $385,000.
Other hedge funds also recently added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. grew its stake in shares of United Rentals by 1,358.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 8,227 shares of the construction company’s stock worth $6,658,000 after acquiring an additional 7,663 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in United Rentals by 18.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,756 shares of the construction company’s stock worth $9,514,000 after purchasing an additional 1,846 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in United Rentals by 52.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,241 shares of the construction company’s stock worth $2,623,000 after purchasing an additional 1,109 shares during the period. Addenda Capital Inc. grew its position in United Rentals by 21.3% in the 4th quarter. Addenda Capital Inc. now owns 16,739 shares of the construction company’s stock worth $13,547,000 after purchasing an additional 2,939 shares during the period. Finally, Whittier Trust Co. raised its stake in United Rentals by 2.6% during the 4th quarter. Whittier Trust Co. now owns 61,408 shares of the construction company’s stock valued at $54,782,000 after buying an additional 1,529 shares during the last quarter. 96.26% of the stock is currently owned by hedge funds and other institutional investors.
United Rentals News Summary Here are the key news stories impacting United Rentals this week:
Positive Sentiment: United Rentals reported Q2 EPS of $12.76, beating Wall Street estimates, while revenue of $4.41 billion also topped forecasts. United Rentals (URI) Beats Q2 Earnings and Revenue Estimates Positive Sentiment: The company said quarterly results were record highs for revenue, rental revenue, EPS, and adjusted EBITDA, signaling continued demand in its core equipment rental business. United Rentals jumps after record Q2 results and higher 2026 guidance Positive Sentiment: Management raised 2026 guidance, including higher revenue and adjusted EBITDA targets, which suggests stronger expected performance for the rest of the year. United Rentals jumps after record Q2 results and higher 2026 guidance Neutral Sentiment: Some older analyst commentary remained mixed, including a recent Barclays sell rating, but that appears to have been outweighed by the strong earnings beat and improved outlook. Barclays Gives a Sell Rating to United Rentals (URI) Wall Street Analysts Forecast Growth A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on United Rentals from $1,030.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their target price on United Rentals from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Sanford C. Bernstein set a $903.00 target price on United Rentals and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Weiss Ratings downgraded United Rentals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada increased their price objective on shares of United Rentals from $1,041.00 to $1,119.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, United Rentals currently has an average rating of “Moderate Buy” and an average target price of $1,140.00.
View Our Latest Report on United Rentals
Insider Activity In related news, EVP Craig Adam Pintoff sold 2,466 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $963.00, for a total value of $2,374,758.00. Following the completion of the transaction, the executive vice president owned 14,774 shares of the company’s stock, valued at approximately $14,227,362. This represents a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joli L. Gross sold 306 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $954.99, for a total value of $292,226.94. Following the completion of the sale, the senior vice president owned 5,738 shares of the company’s stock, valued at $5,479,732.62. The trade was a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,088 shares of company stock worth $25,628,877 in the last quarter. Corporate insiders own 0.47% of the company’s stock.
United Rentals Price Performance NYSE URI opened at $1,034.28 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.37. United Rentals, Inc. has a 12 month low of $701.59 and a 12 month high of $1,143.69. The stock has a market cap of $64.80 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.62 and a beta of 1.79. The company’s 50 day moving average is $1,045.86 and its two-hundred day moving average is $915.44.
United Rentals (NYSE:URI – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $12.76 earnings per share for the quarter, topping analysts’ consensus estimates of $11.53 by $1.23. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $10.47 earnings per share. As a group, research analysts anticipate that United Rentals, Inc. will post 46.85 earnings per share for the current year.
About United Rentals (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
Featured Stories Five stocks we like better than United Rentals Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play
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United Rentals (URI - Free Report) came out with quarterly earnings of $12.76 per share, beating the Zacks Consensus Estimate of $11.67 per share. This compares to earnings of $10.47 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +9.34%. A quarter ago, it was expected that this equipment rental company would post earnings of $9.01 per share when it actually produced earnings of $9.71, delivering a surprise of +7.77%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
United Rentals, which belongs to the Zacks Building Products - Miscellaneous industry, posted revenues of $4.41 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.12%. This compares to year-ago revenues of $3.94 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
United Rentals shares have added about 25.2% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for United Rentals?While United Rentals has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for United Rentals was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $13.29 on $4.53 billion in revenues for the coming quarter and $46.85 on $17.26 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Miscellaneous is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Simpson Manufacturing (SSD - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 27.
This building materials company is expected to post quarterly earnings of $2.71 per share in its upcoming report, which represents a year-over-year change of +9.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Simpson Manufacturing's revenues are expected to be $656.4 million, up 4% from the year-ago quarter.
United Rentals (URI - Free Report) reported $4.41 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 11.8%. EPS of $12.76 for the same period compares to $10.47 a year ago.
The reported revenue represents a surprise of +4.12% over the Zacks Consensus Estimate of $4.24 billion. With the consensus EPS estimate being $11.67, the EPS surprise was +9.34%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how United Rentals performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Equipment rentals: $3.85 billion versus the three-analyst average estimate of $3.67 billion. The reported number represents a year-over-year change of +12.7%.Revenues- Sales of rental equipment: $330 million versus the three-analyst average estimate of $339.4 million. The reported number represents a year-over-year change of +4.1%.Revenues- Service and other revenues: $101 million compared to the $100.07 million average estimate based on three analysts. The reported number represents a change of +6.3% year over year.Revenues- Contractor supplies sales: $44 million compared to the $44.3 million average estimate based on three analysts. The reported number represents a change of +7.3% year over year.Revenues- Sales of new equipment: $86 million versus the three-analyst average estimate of $80.75 million. The reported number represents a year-over-year change of +14.7%.Gross Margin/Profit- Equipment rentals: $1.5 billion compared to the $1.42 billion average estimate based on three analysts.Gross Margin/Profit- Sales of rental equipment: $154 million versus the three-analyst average estimate of $153.32 million.Gross Margin/Profit- Service and other: $45 million versus $41.13 million estimated by three analysts on average.Gross Margin/Profit- Contractor supplies sales: $14 million versus $14.06 million estimated by three analysts on average.Gross Margin/Profit- Sales of new equipment: $18 million versus $14.86 million estimated by three analysts on average.View all Key Company Metrics for United Rentals here>>>
Shares of United Rentals have returned -4.7% over the past month versus the Zacks S&P 500 composite's +0.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) announced today that its Board of Directors declared a quarterly cash dividend of $1.97 per share, payable on August 26, 2026 to stockholders of record as of August 12, 2026. About United Rentals United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,665 rental locations in North America, 44 in Europe, 47 in Australia and 18 in New Zealand. In North America, the comp.
STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) today announced record financial results for the second quarter of 2026, and raised its 2026 full-year guidance.
Second Quarter 2026 Highlights1
Total revenue of $4.410 billion, including rental revenue2 of $3.849 billion. Net income of $753 million, at a margin3 of 17.1%. GAAP diluted earnings per share (“EPS”) of $12.03, and adjusted EPS4 of $12.76. Adjusted EBITDA4 of $2.056 billion, at a margin3 of 46.6%. Year-over-year, fleet productivity5 increased 3.4%. Year-to-date net cash provided by operating activities of $3.305 billion; free cash flow4 of $1.149 billion, including gross payments for purchases of rental equipment of $2.720 billion. Year-to-date gross rental capital expenditures of $2.931 billion. Returned $998 million to shareholders year-to-date, comprised of $750 million via share repurchases and $248 million via dividends paid. Net leverage ratio6 of 1.8x, with total liquidity6 of $2.999 billion, at June 30, 2026. CEO Comment
Matthew Flannery, chief executive officer of United Rentals, said, “As evidenced in our record second-quarter results across EPS, adjusted EBITDA and revenue, 2026 is on track to be a great year for United Rentals. Our growth accelerated in the quarter, customers remain optimistic, particularly around large projects, and we continue to demonstrate strong cost discipline. Our one-stop-shop value proposition, coupled with our technology, service levels, and unwavering focus on safety and customer productivity, continues to differentiate us in the industry.”
Flannery continued, “Looking ahead, I am very pleased that we are again raising our guidance for the year, supported by the tailwinds we see across large projects, customer backlogs, and the momentum witnessed year-to-date. We believe the healthy growth we’ve seen will continue and that we will deliver what our shareholders expect of us: profitable growth, strong free cash flow and compelling returns.”
_______________ 1.
The second quarter 2026 results include a gain of $49 million associated with the sale of part of the company's scaffolding business. The impact of the gain was a $37 million after-tax benefit, or $0.58 per diluted share, to net income and a $49 million benefit to adjusted EBITDA.
2.
Rental revenue includes owned equipment rental revenue, re-rent revenue and ancillary revenue.
3.
Net income margin and adjusted EBITDA margin represent net income or adjusted EBITDA divided by total revenue.
4.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted EPS (earnings per share) and free cash flow are non-GAAP financial measures as defined in the tables below. See the tables below for reconciliations to the most comparable GAAP measures.
5.
Fleet productivity reflects the combined impact of changes in rental rates, time utilization and mix on owned equipment rental revenue.
6.
The net leverage ratio reflects net debt (total debt less cash and cash equivalents) divided by adjusted EBITDA for the trailing 12 months. Total liquidity reflects cash and cash equivalents plus availability under the asset-based revolving credit facility (“ABL facility”) and the accounts receivable securitization facility.
2026 Outlook
The company has raised its 2026 outlook, as reflected below.
Current Outlook
Prior Outlook
Total revenue
$17.5 billion to $17.8 billion
$16.9 billion to $17.4 billion
Adjusted EBITDA7
$7.975 billion to $8.125 billion
$7.625 billion to $7.875 billion
Net rental capital expenditures after gross purchases
$3.4 billion to $3.8 billion, after gross purchases of $4.85 billion to $5.25 billion
$2.95 billion to $3.35 billion, after gross purchases of $4.4 billion to $4.8 billion
Net cash provided by operating activities
$5.85 billion to $6.65 billion
$5.4 billion to $6.2 billion
Free cash flow excluding restructuring related payments8
$2.15 billion to $2.45 billion
$2.15 billion to $2.45 billion
Summary of Second Quarter 2026 Financial Results
Rental revenue increased 12.7% year-over-year to a quarterly record of $3.849 billion. Average original equipment at cost (“OEC”) increased 7.1% year-over-year, while fleet productivity increased 3.4%. Used equipment sales in the quarter increased 4.1% year-over-year. Used equipment sales generated $330 million of proceeds at a GAAP gross margin of 46.7% and an adjusted gross margin9 of 47.3%, compared to a GAAP gross margin of 46.1% and an adjusted gross margin of 48.3% for the same period last year. The company realized a 52.9% OEC recovery rate on the fleet sold in the second quarter of 2026. Net income for the quarter increased 21.1% year-over-year to a second quarter record of $753 million, while net income margin increased 130 basis points to 17.1%, including the impact of the $37 million net after-tax gain on sale of business discussed in footnote 1 above. Excluding the gain on sale of business, net income margin for the second quarter of 2026 increased 40 basis points year-over-year, primarily due to increased rental gross margin (see below for a discussion of rental gross margin by segment). Adjusted EBITDA for the quarter increased 13.6% year-over-year to a quarterly record of $2.056 billion, while adjusted EBITDA margin increased 70 basis points to 46.6%, including the $49 million impact of the gain on sale of business discussed above. Excluding the gain on sale of business, adjusted EBITDA margin for the second quarter of 2026 decreased 40 basis points year-over-year. This margin decline primarily reflects decreased rental gross margin in the specialty rentals segment, attributable to changes in revenue mix driven by growth in lower-margin ancillary and re-rent revenues, partially offset by a reduction in labor and benefits expenses as a percentage of revenue, as discussed below. General rentals segment rental revenue increased 6.6% year-over-year to a quarterly record of $2.418 billion, while rental gross margin increased by 70 basis points year-over-year to 35.8%, primarily due to a reduction in depreciation as a percentage of revenue. Specialty rentals segment rental revenue increased 24.8% year-over-year to a quarterly record of $1.431 billion. Rental gross margin decreased by 140 basis points year-over-year to 44.4%, primarily due to changes in revenue mix driven by growth in lower-margin ancillary and re-rent revenues, partially offset by a reduction in labor and benefits expenses as a percentage of revenue. _______________ 7.
Information reconciling forward-looking adjusted EBITDA to the comparable GAAP financial measures is unavailable to the company without unreasonable effort, as discussed below.
8.
Free cash flow excludes restructuring related payments, which cannot be reasonably predicted for the 2026 outlook. Restructuring related payments were $20 million for the six months ended June 30, 2026.
9.
Used equipment sales adjusted gross margin is a non-GAAP financial measure that excludes the impact ($2 million and $7 million for the three months ended June 30, 2026 and 2025, respectively) of the fair value mark-up of fleet acquired in certain major acquisitions that was subsequently sold. This adjustment is explained further in the tables below, and represents the only difference between the GAAP gross margin and the adjusted gross margin.
Cash flow from operating activities increased 20.1% year-over-year to $3.305 billion for the first six months of 2026, and free cash flow, including restructuring related payments, decreased 4.1%, from $1.198 billion to $1.149 billion. Cash flow from operating activities and free cash flow in 2025 both included a $52 million merger termination benefit associated with the terminated H&E acquisition.10 Capital management. The company’s net leverage ratio was 1.8x at June 30, 2026, as compared to 1.9x at December 31, 2025. During the six months ended June 30, 2026, the company completed its prior $2.0 billion share repurchase11 program, and commenced its new $5.0 billion share repurchase program. During the six months ended June 30, 2026, the company repurchased $750 million of common stock under these programs, and paid dividends totaling $248 million. The company expects to complete $1.5 billion of share repurchases in 2026. Additionally, the company’s Board of Directors has declared a quarterly dividend of $1.97 per share, payable on August 26, 2026 to stockholders of record on August 12, 2026. Total liquidity was $2.999 billion as of June 30, 2026, including $112 million of cash and cash equivalents. Return on invested capital (ROIC)12 was 11.8% for the 12 months ended June 30, 2026. Conference Call
United Rentals will hold a conference call tomorrow, Thursday, July 23, 2026, at 8:30 a.m. Eastern Time. The conference call number is 800-579-2568 (international: 785-424-1222). The replay number for the call is 402-220-7209. The passcode for both the conference call and the replay is 48921. The conference call will also be available live by audio webcast at unitedrentals.com, where it will be archived until the next earnings call.
_______________ 10.
The six months ended June 30, 2025 include the impact of the merger termination benefit associated with the termination of the H&E Equipment Services, Inc. d/b/a H&E Rentals (“H&E”) merger agreement. For further information on this merger termination benefit, see the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 filed with the SEC.
11.
A 1% excise tax is imposed on “net repurchases” (certain purchases minus certain issuances) of common stock. All references to share repurchases above do not include the excise tax, which totaled $6 million year-to-date through June 30, 2026.
12.
The company’s ROIC metric uses after-tax operating income for the trailing 12 months divided by average stockholders’ equity, debt and deferred taxes, net of average cash. To mitigate the volatility related to fluctuations in the company’s tax rate from period to period, the U.S. federal corporate statutory tax rate of 21% was used to calculate after-tax operating income.
Non-GAAP Financial Measures
Free cash flow, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, adjusted earnings per share (adjusted EPS) and used equipment sales adjusted gross margin are non-GAAP financial measures as defined under the rules of the SEC. Free cash flow represents net cash provided by operating activities less payments for purchases of, and plus proceeds from, equipment and intangible assets. The equipment and intangible asset items are included in cash flows from investing activities. EBITDA represents the sum of net income, provision for income taxes, interest expense, net, depreciation of rental equipment and non-rental depreciation and amortization. Adjusted EBITDA represents EBITDA plus the sum of the restructuring charges, stock compensation expense, net, and the impact of the fair value mark-up of acquired fleet. Adjusted EPS represents EPS plus the sum of the restructuring charges, the impact on depreciation related to acquired fleet and property and equipment, the impact of the fair value mark-up of acquired fleet, merger related intangible asset amortization and asset impairment charge. Used equipment sales adjusted gross margin excludes the impact of the fair value mark-up of fleet acquired in certain major acquisitions that was subsequently sold (this adjustment is explained further in the adjusted EPS and EBITDA/adjusted EBITDA tables below). The company believes that: (i) free cash flow provides useful additional information concerning cash flow available to meet future debt service obligations and working capital requirements; (ii) EBITDA and adjusted EBITDA provide useful information about operating performance and period-over-period growth, and help investors gain an understanding of the factors and trends affecting our ongoing cash earnings, from which capital investments are made and debt is serviced; (iii) adjusted EPS provides useful information concerning future profitability; and (iv) used equipment sales adjusted gross margin provides information that is useful for evaluating the profitability of used equipment sales without regard to potential distortions. However, none of these measures should be considered as alternatives to net income, cash flows from operating activities, earnings per share or GAAP gross margin from used equipment sales under GAAP as indicators of operating performance or liquidity. See the tables below for further discussion of these non-GAAP financial measures.
Information reconciling forward-looking adjusted EBITDA to GAAP financial measures is unavailable to the company without unreasonable effort. The company is not able to provide reconciliations of adjusted EBITDA to GAAP financial measures because certain items required for such reconciliations are outside of the company’s control and/or cannot be reasonably predicted, such as the provision for income taxes. Preparation of such reconciliations would require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to the company without unreasonable effort (as specified in the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K). The company provides a range for its adjusted EBITDA forecast that it believes will be achieved, however it cannot accurately predict all the components of the adjusted EBITDA calculation. The company provides an adjusted EBITDA forecast because it believes that adjusted EBITDA, when viewed with the company’s results under GAAP, provides useful information for the reasons noted above. However, adjusted EBITDA is not a measure of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income or cash flow from operating activities as an indicator of operating performance or liquidity.
About United Rentals
United Rentals, Inc. is the largest equipment rental company in the world. The company has an integrated network of 1,665 rental locations in North America, 44 in Europe, 47 in Australia and 18 in New Zealand. In North America, the company operates in 49 states and every Canadian province. The company’s approximately 28,100 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers a fleet of equipment for rent with a total original cost of $23.75 billion. United Rentals is a member of the Standard & Poor’s 500 Index, the Barron’s 400 Index and the Russell 3000 Index® and is headquartered in Stamford, Conn. Additional information about United Rentals is available at unitedrentals.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. These statements can generally be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “seek,” “on-track,” “plan,” “project,” “forecast,” “intend” or “anticipate,” or the negative thereof or comparable terminology, or by discussions of vision, strategy or outlook. You are cautioned that our business and operations are subject to a variety of risks and uncertainties, many of which are beyond our control, and, consequently, our actual results may differ materially from those projected. Factors that could cause actual results to differ materially from those projected include, but are not limited to, the following: (1) the impact of global economic conditions (including inflation, interest rates, supply chain constraints, tariffs, trade wars and sanctions), geopolitical risks (including risks related to international conflicts) and public health crises and epidemics on us, our customers and our suppliers, in the United States and the rest of the world; (2) declines in construction or industrial activity, which can adversely impact our revenues and, because many of our costs are fixed, our profitability; (3) rates we charge and customer demand being less than anticipated; (4) changes in customer, fleet, geographic and segment mix; (5) excess fleet in the equipment rental industry; (6) inability to benefit from government spending, including spending associated with infrastructure projects, or a reduction or disruption in government spending, including as a result of a government shutdown; (7) trends in oil and natural gas, including significant fluctuations in the prices of oil or natural gas, which can adversely affect the demand for our services and products; (8) competition from existing and new competitors; (9) the cyclical nature of the industry in which we operate and the industries of our customers, such as those in the construction industry; (10) costs we incur being more than anticipated, including as a result of inflation or tariffs, and the inability to realize expected savings in the amounts or time frames planned; (11) our significant indebtedness requires a significant amount of cash for debt service, and can constrain our flexibility in responding to unanticipated or adverse business conditions; (12) inability to refinance our indebtedness on terms that are favorable to us, including as a result of volatility and uncertainty in capital or credit markets or increases in interest rates, or at all; (13) incurrence of additional debt, which could exacerbate the risks associated with our current level of indebtedness; (14) noncompliance with financial or other covenants in our debt agreements, which could result in our lenders terminating the agreements and requiring us to repay outstanding borrowings; (15) restrictive covenants and the amount of borrowings permitted under our debt instruments, which can limit our financial and operational flexibility; (16) inability to access the capital that our businesses or growth plans may require, including as a result of uncertainty in capital or credit markets; (17) the possibility that companies that we have acquired or may acquire could have undiscovered liabilities, or that companies or assets that we have acquired or may acquire could involve other unexpected costs, may strain our management capabilities, or may be difficult to integrate, and that we may not realize the expected benefits from an acquisition over the timeframe we expect, or at all; (18) incurrence of impairment charges; (19) fluctuations in the price of our common stock and inability to complete share repurchases or pay dividends in the time frames and/or on the terms anticipated; (20) our charter provisions as well as provisions of certain debt agreements and our significant indebtedness may have the effect of making more difficult or otherwise discouraging, delaying or deterring a takeover or other change of control of us; (21) inability to manage credit risk adequately or to collect on contracts with a large number of customers; (22) turnover in our management team and inability to attract and retain key personnel; (23) inability to obtain equipment and other supplies for our business from our key suppliers on acceptable terms or at all, as a result of insolvency, financial difficulties or other factors, including tariffs, affecting our suppliers; (24) increases in our maintenance and replacement costs, including as a result of tariffs, and/or decreases in the residual value of our equipment; (25) inability to sell our new or used fleet in the amounts, or at the prices, we expect; (26) risks related to security breaches, cybersecurity attacks, failure to protect personal information, compliance with privacy, data protection and cyber incident reporting laws and regulations, and other significant disruptions to our information technology systems; (27) risks related to our ability to respond adequately to changes in technology and customer demands; (28) risks related to the use of artificial intelligence, and challenges with properly managing such use; (29) risks related to severe weather events and other natural occurrences, and climate change regulation; (30) risks related to our aspirational sustainability and safety goals, including our greenhouse gas intensity reduction goal; (31) risks related to evolving requirements, expectations and perspectives from regulators and stakeholders on environmental, social and sustainability-related topics, and our ability to meet these requirements and expectations; (32) the fact that our holding company structure requires us to depend in part on distributions from subsidiaries and such distributions could be limited by contractual or legal restrictions; (33) shortfalls in our insurance coverage or inability to obtain coverage on reasonable terms or at all; (34) increases in our loss reserves to address business operations or other claims and any claims that exceed our established levels of reserves; (35) the outcome or other potential consequences of litigation, regulatory and investigatory matters; (36) incurrence of expenses (including indemnification obligations) and other costs in connection with litigation, regulatory and investigatory matters; (37) risks related to, and the costs of complying with, environmental and safety laws and regulations; (38) risks related to, and the costs of complying with, foreign laws and regulations, as well as other risks associated with non-U.S. operations, including currency exchange risk and tariffs; (39) labor shortages and/or disputes, work stoppages or other labor difficulties, which may impact our productivity and increase our costs, and changes in law that could affect our labor relations or operations generally; (40) the effect of changes in tax law; and (41) other factors described in our Annual Report on Form 10-K and in our other filings with the SEC.
For a more complete description of these and other possible risks and uncertainties, please refer to our Annual Report on Form 10-K for the year ended December 31, 2025, as well as to our subsequent filings with the SEC. The forward-looking statements contained herein speak only as of the date hereof, and we make no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations, except as required by law.
UNITED RENTALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In millions, except per share amounts)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Revenues:
Equipment rentals
$
3,849
$
3,415
$
7,268
$
6,560
Sales of rental equipment
330
317
680
694
Sales of new equipment
86
75
170
145
Contractor supplies sales
44
41
84
77
Service and other revenues
101
95
193
186
Total revenues
4,410
3,943
8,395
7,662
Cost of revenues:
Cost of equipment rentals, excluding depreciation
1,644
1,443
3,136
2,821
Depreciation of rental equipment
704
651
1,385
1,288
Cost of rental equipment sales
176
171
366
381
Cost of new equipment sales
68
61
138
117
Cost of contractor supplies sales
30
28
58
54
Cost of service and other revenues
56
56
111
112
Total cost of revenues
2,678
2,410
5,194
4,773
Gross profit
1,732
1,533
3,201
2,889
Selling, general and administrative expenses (1)
472
422
913
859
Restructuring charge
6
—
51
1
Non-rental depreciation and amortization
116
108
230
222
Operating income
1,138
1,003
2,007
1,807
Interest expense, net (1)
178
171
354
355
Other income, net (1)
(47
)
(7
)
(55
)
(75
)
Income before provision for income taxes
1,007
839
1,708
1,527
Provision for income taxes
254
217
424
387
Net income (1)
$
753
$
622
$
1,284
$
1,140
Diluted earnings per share (1)
$
12.03
$
9.59
$
20.44
$
17.48
Dividends declared per share
$
1.97
$
1.79
$
3.94
$
3.58
UNITED RENTALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In millions)
June 30, 2026
December 31,
2025
ASSETS
Cash and cash equivalents
$
112
$
459
Accounts receivable, net
2,797
2,510
Inventory
294
240
Prepaid expenses and other assets
390
399
Total current assets
3,593
3,608
Rental equipment, net
17,350
16,069
Property and equipment, net
1,134
1,134
Goodwill
7,201
7,119
Other intangible assets, net
561
477
Operating lease right-of-use assets
1,412
1,395
Other long-term assets
63
64
Total assets
$
31,314
$
29,866
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-term debt and current maturities of long-term debt
$
1,541
$
1,577
Accounts payable
1,610
776
Accrued expenses and other liabilities
1,552
1,466
Total current liabilities
4,703
3,819
Long-term debt
12,689
12,652
Deferred taxes
3,333
3,115
Operating lease liabilities
1,155
1,124
Other long-term liabilities
210
188
Total liabilities
22,090
20,898
Common stock
1
1
Additional paid-in capital
2,803
2,769
Retained earnings
16,879
15,843
Treasury stock
(10,152
)
(9,396
)
Accumulated other comprehensive loss
(307
)
(249
)
Total stockholders’ equity
9,224
8,968
Total liabilities and stockholders’ equity
$
31,314
$
29,866
UNITED RENTALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (In millions)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Cash Flows From Operating Activities:
Net income
$
753
$
622
$
1,284
$
1,140
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
820
759
1,615
1,510
Amortization of deferred financing costs and original issue discounts
4
4
8
8
Gain on sales of rental equipment
(154
)
(146
)
(314
)
(313
)
Gain on sales of non-rental equipment
(3
)
(6
)
(7
)
(10
)
Gain on sale of business (1)
(49
)
—
(49
)
—
Insurance proceeds from damaged equipment
(13
)
(12
)
(23
)
(23
)
Stock compensation expense, net
43
34
79
70
Restructuring charge
6
—
51
1
Debt related activity (2)
—
—
—
13
Increase (decrease) in deferred taxes
137
(22
)
220
(38
)
Changes in operating assets and liabilities, net of amounts acquired:
(Increase) decrease in accounts receivable
(243
)
(57
)
(272
)
5
Increase in inventory
(40
)
(14
)
(54
)
(41
)
(Increase) decrease in prepaid expenses and other assets
(45
)
(181
)
30
(114
)
Increase in accounts payable
425
296
623
529
Increase in accrued expenses and other liabilities
150
51
114
16
Net cash provided by operating activities
1,791
1,328
3,305
2,753
Cash Flows From Investing Activities:
Payments for purchases of rental equipment
(1,953
)
(1,460
)
(2,720
)
(2,121
)
Payments for purchases of non-rental equipment and intangible assets
(99
)
(98
)
(165
)
(182
)
Proceeds from sales of rental equipment
330
317
680
694
Proceeds from sales of non-rental equipment
13
17
26
31
Proceeds from sale of business (1)
82
—
82
—
Insurance proceeds from damaged equipment
13
12
23
23
Purchases of other companies, net of cash acquired
(4
)
1
(400
)
(16
)
Purchases of investments
—
—
—
(1
)
Proceeds from sales of investments
—
—
3
—
Net cash used in investing activities
(1,618
)
(1,211
)
(2,471
)
(1,572
)
Cash Flows From Financing Activities:
Proceeds from debt
2,448
2,731
4,503
4,829
Payments of debt
(2,145
)
(2,316
)
(4,594
)
(4,952
)
Payment of contingent consideration
—
—
(18
)
(23
)
Payments of financing and other debt related costs (2)
(1
)
(1
)
(1
)
(14
)
Common stock repurchased, including tax withholdings for share-based compensation (3)
(395
)
(431
)
(816
)
(720
)
Dividends paid
(123
)
(117
)
(248
)
(235
)
Net cash used in financing activities
(216
)
(134
)
(1,174
)
(1,115
)
Effect of foreign exchange rates
(1
)
23
(7
)
25
Net (decrease) increase in cash and cash equivalents
(44
)
6
(347
)
91
Cash and cash equivalents at beginning of period
156
542
459
457
Cash and cash equivalents at end of period
$
112
$
548
$
112
$
548
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net
$
141
$
498
$
158
$
540
Cash paid for interest
146
117
342
339
UNITED RENTALS, INC.
RENTAL REVENUE
Fleet productivity is a comprehensive metric that provides greater insight into the decisions made by our managers in support of growth and returns. Specifically, we seek to optimize the interplay of rental rates, time utilization and mix in driving rental revenue. Fleet productivity aggregates, in one metric, the impact of changes in rates, utilization and mix on owned equipment rental revenue.
We believe that this metric is useful in assessing the effectiveness of our decisions on rates, time utilization and mix, particularly as they support the creation of shareholder value. The table below shows the components of the year-over-year change in rental revenue using the fleet productivity methodology:
Year-over-
year
change in
average
OEC
Assumed
year-over-
year inflation
impact (1)
Fleet
productivity
(2)
Contribution
from ancillary
and re-rent
revenue (3)
Total
change in
rental
revenue
Three Months Ended June 30, 2026
7.1%
(1.5)%
3.4%
3.7%
12.7%
Six Months Ended June 30, 2026
6.4%
(1.5)%
2.9%
3.0%
10.8%
Please refer to our Second Quarter 2026 Investor Presentation for additional detail on fleet productivity.
(1)
Reflects the estimated impact of inflation on the revenue productivity of fleet based on OEC, which is recorded at cost.
(2)
Reflects the combined impact of changes in rental rates, time utilization and mix on owned equipment rental revenue. Changes in customers, fleet, geographies and segments all contribute to changes in mix.
(3)
Reflects the combined impact of changes in other types of equipment rental revenue: ancillary and re-rent (excludes owned equipment rental revenue).
UNITED RENTALS, INC.
SEGMENT PERFORMANCE
($ in millions)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
Change
2026
2025
Change
General Rentals
Reportable segment equipment rentals revenue
$
2,418
$
2,268
6.6
%
$
4,647
$
4,367
6.4
%
Reportable segment equipment rentals gross profit
865
796
8.7
%
1,618
1,475
9.7
%
Reportable segment equipment rentals gross margin
35.8
%
35.1
%
70 bps
34.8
%
33.8
%
100 bps
Specialty
Reportable segment equipment rentals revenue
$
1,431
$
1,147
24.8
%
$
2,621
$
2,193
19.5
%
Reportable segment equipment rentals gross profit
636
525
21.1
%
1,129
976
15.7
%
Reportable segment equipment rentals gross margin
44.4
%
45.8
%
(140) bps
43.1
%
44.5
%
(140) bps
Total United Rentals
Total equipment rentals revenue
$
3,849
$
3,415
12.7
%
$
7,268
$
6,560
10.8
%
Total equipment rentals gross profit
1,501
1,321
13.6
%
2,747
2,451
12.1
%
Total equipment rentals gross margin
39.0
%
38.7
%
30 bps
37.8
%
37.4
%
40 bps
UNITED RENTALS, INC.
DILUTED EARNINGS PER SHARE CALCULATION
(In millions, except per share data)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Numerator:
Net income available to common stockholders (1)
$
753
$
622
$
1,284
$
1,140
Denominator:
Denominator for basic earnings per share—weighted-average common shares
62.6
64.9
62.7
65.1
Effect of dilutive securities:
Employee stock options
—
—
—
—
Restricted stock units
—
—
0.1
0.1
Denominator for diluted earnings per share—adjusted weighted-average common shares
62.6
64.9
62.8
65.2
Diluted earnings per share (1)
$
12.03
$
9.59
$
20.44
$
17.48
UNITED RENTALS, INC.
ADJUSTED EARNINGS PER SHARE GAAP RECONCILIATION
We define “earnings per share – adjusted” as the sum of earnings per share – GAAP, as-reported plus the impact of the following special items: merger related intangible asset amortization, impact on depreciation related to acquired fleet and property and equipment, impact of the fair value mark-up of acquired fleet, restructuring charge and asset impairment charge. See below for further detail on the special items. Management believes that earnings per share - adjusted provides useful information concerning future profitability. However, earnings per share - adjusted is not a measure of financial performance under GAAP. Accordingly, earnings per share - adjusted should not be considered an alternative to GAAP earnings per share. The table below provides a reconciliation between earnings per share – GAAP, as-reported, and earnings per share – adjusted.
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Earnings per share - GAAP, as-reported (1)
$12.03
$9.59
$20.44
$17.48
After-tax (2) impact of:
Merger related intangible asset amortization (3)
0.39
0.47
0.82
1.00
Impact on depreciation related to acquired fleet and property and equipment (4)
0.22
0.29
0.48
0.58
Impact of the fair value mark-up of acquired fleet (5)
0.03
0.08
0.10
0.21
Restructuring charge (6)
0.07
0.01
0.61
0.02
Asset impairment charge (7)
0.02
0.03
0.02
0.03
Earnings per share - adjusted (1)
$12.76
$10.47
$22.47
$19.32
Tax rate applied to above adjustments (2)
25.1%
25.2%
25.1%
25.2%
(1)
For the three and six months ended June 30, 2026, the impact of the gain on sale of business that is discussed above was a net benefit of $0.58 per diluted share. For the six months ended June 30, 2025, the impact of the merger termination benefit associated with the terminated H&E acquisition was a net benefit of $0.45 per diluted share.
(2)
The tax rates applied to the adjustments reflect the statutory rates in the applicable entities.
(3)
Reflects the amortization of the intangible assets acquired in the major acquisitions completed since 2012 that significantly impact our operations (the "major acquisitions," each of which had annual revenues of over $200 million prior to acquisition).
(4)
Reflects the impact of extending the useful lives of equipment acquired in certain major acquisitions, net of the impact of additional depreciation associated with the fair value mark-up of such equipment.
(5)
Reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in certain major acquisitions and subsequently sold.
(6)
Primarily reflects severance and branch closure charges associated with our restructuring programs. We only include such costs that are part of a restructuring program as restructuring charges. The designated restructuring programs generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition, and result in significant costs that we would not normally incur absent a major acquisition or other triggering event that results in the initiation of a restructuring program. Since the first such restructuring program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $435 million. In the fourth quarter of 2025, we initiated a restructuring program associated with the consolidation of certain common functions and certain other cost reduction measures, and the charges above were primarily recognized under this program.
(7)
Reflects write-offs of leasehold improvements and other fixed assets.
UNITED RENTALS, INC.
EBITDA AND ADJUSTED EBITDA GAAP RECONCILIATIONS
($ in millions, except footnotes)
EBITDA represents the sum of net income, provision for income taxes, interest expense, net, depreciation of rental equipment, and non-rental depreciation and amortization. Adjusted EBITDA represents EBITDA plus the sum of the restructuring charges, stock compensation expense, net, and the impact of the fair value mark-up of acquired fleet. See below for further detail on each adjusting item. These items are excluded from adjusted EBITDA internally when evaluating our operating performance and for strategic planning and forecasting purposes, and allow investors to make a more meaningful comparison between our core business operating results over different periods of time, as well as with those of other similar companies. The net income and adjusted EBITDA margins represent net income or adjusted EBITDA divided by total revenue. Management believes that EBITDA and adjusted EBITDA, when viewed with the company’s results under GAAP and the accompanying reconciliation, provide useful information about operating performance and period-over-period growth, and provide additional information that is useful for evaluating the operating performance of our core business without regard to potential distortions. Additionally, management believes that EBITDA and adjusted EBITDA help investors gain an understanding of the factors and trends affecting our ongoing cash earnings, from which capital investments are made and debt is serviced.
The table below provides a reconciliation between net income and EBITDA and adjusted EBITDA.
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net income (1)
$
753
$
622
$
1,284
$
1,140
Provision for income taxes
254
217
424
387
Interest expense, net
178
171
354
355
Depreciation of rental equipment
704
651
1,385
1,288
Non-rental depreciation and amortization
116
108
230
222
EBITDA
$
2,005
$
1,769
$
3,677
$
3,392
Restructuring charge (2)
6
—
51
1
Stock compensation expense, net (3)
43
34
79
70
Impact of the fair value mark-up of acquired fleet (4)
2
7
8
18
Adjusted EBITDA (1)
$
2,056
$
1,810
$
3,815
$
3,481
Net income margin
17.1
%
15.8
%
15.3
%
14.9
%
Adjusted EBITDA margin
46.6
%
45.9
%
45.4
%
45.4
%
(1)
For the three and six months ended June 30, 2026, the impact of the gain on sale of business that is discussed above was a net after-tax benefit of $37 million for net income and a $49 million benefit for adjusted EBITDA. For the six months ended June 30, 2025, the impact of the merger termination benefit associated with the terminated H&E acquisition was a net after-tax benefit of $29 million for net income and a net $52 million benefit for adjusted EBITDA.
(2)
Primarily reflects severance and branch closure charges associated with our restructuring programs. We only include such costs that are part of a restructuring program as restructuring charges. The designated restructuring programs generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition, and result in significant costs that we would not normally incur absent a major acquisition or other triggering event that results in the initiation of a restructuring program. Since the first such restructuring program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $435 million. In the fourth quarter of 2025, we initiated a restructuring program associated with the consolidation of certain common functions and certain other cost reduction measures, and the charges above were primarily recognized under this program.
(3)
Represents non-cash, share-based payments associated with the granting of equity instruments.
(4)
Reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in certain major acquisitions and subsequently sold.
UNITED RENTALS, INC.
EBITDA AND ADJUSTED EBITDA GAAP RECONCILIATIONS (continued)
(In millions, except footnotes)
The table below provides a reconciliation between net cash provided by operating activities and EBITDA and adjusted EBITDA.
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net cash provided by operating activities (1)
$
1,791
$
1,328
$
3,305
$
2,753
Adjustments for items included in net cash provided by operating activities but excluded from the calculation of EBITDA:
Amortization of deferred financing costs and original issue discounts
(4
)
(4
)
(8
)
(8
)
Gain on sales of rental equipment
154
146
314
313
Gain on sales of non-rental equipment
3
6
7
10
Gain on sale of business (1)
49
—
49
—
Insurance proceeds from damaged equipment
13
12
23
23
Restructuring charge (2)
(6
)
—
(51
)
(1
)
Stock compensation expense, net (3)
(43
)
(34
)
(79
)
(70
)
Debt related activity (4)
—
—
—
(13
)
Changes in assets and liabilities
(239
)
(300
)
(383
)
(494
)
Cash paid for interest
146
117
342
339
Cash paid for income taxes, net
141
498
158
540
EBITDA
$
2,005
$
1,769
$
3,677
$
3,392
Add back:
Restructuring charge (2)
6
—
51
1
Stock compensation expense, net (3)
43
34
79
70
Impact of the fair value mark-up of acquired fleet (5)
2
7
8
18
Adjusted EBITDA (1)
$
2,056
$
1,810
$
3,815
$
3,481
(1)
For the three and six months ended June 30, 2026, the impact of the gain on sale of business that is discussed above was a $49 million benefit for adjusted EBITDA. For the six months ended June 30, 2025, the impact of the merger termination benefit associated with the terminated H&E acquisition was a net $52 million benefit for both net cash provided by operating activities and adjusted EBITDA.
(2)
Primarily reflects severance and branch closure charges associated with our restructuring programs. We only include such costs that are part of a restructuring program as restructuring charges. The designated restructuring programs generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition, and result in significant costs that we would not normally incur absent a major acquisition or other triggering event that results in the initiation of a restructuring program. Since the first such restructuring program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $435 million. In the fourth quarter of 2025, we initiated a restructuring program associated with the consolidation of certain common functions and certain other cost reduction measures, and the charges above were primarily recognized under this program.
(3)
Represents non-cash, share-based payments associated with the granting of equity instruments.
(4)
The amount for the six months ended June 30, 2025 reflects bridge financing fees associated with the terminated H&E acquisition.
(5)
Reflects additional costs recorded in cost of rental equipment sales associated with the fair value mark-up of rental equipment acquired in certain major acquisitions and subsequently sold.
UNITED RENTALS, INC.
FREE CASH FLOW GAAP RECONCILIATION
(In millions, except footnotes)
We define “free cash flow” as net cash provided by operating activities less payments for purchases of, and plus proceeds from, equipment and intangible assets. The equipment and intangible asset items are included in cash flows from investing activities. Management believes that free cash flow provides useful additional information concerning cash flow available to meet future debt service obligations and working capital requirements. However, free cash flow is not a measure of financial performance or liquidity under GAAP. Accordingly, free cash flow should not be considered an alternative to net income or cash flow from operating activities as an indicator of operating performance or liquidity. The table below provides a reconciliation between net cash provided by operating activities and free cash flow.
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net cash provided by operating activities (1)
$
1,791
$
1,328
$
3,305
$
2,753
Payments for purchases of rental equipment
(1,953
)
(1,460
)
(2,720
)
(2,121
)
Payments for purchases of non-rental equipment and intangible assets
(99
)
(98
)
(165
)
(182
)
Proceeds from sales of rental equipment
330
317
680
694
Proceeds from sales of non-rental equipment
13
17
26
31
Insurance proceeds from damaged equipment
13
12
23
23
Free cash flow (1) (2)
$
95
$
116
$
1,149
$
1,198
The table below provides a reconciliation between 2026 forecasted net cash provided by operating activities and free cash flow.
Net cash provided by operating activities
$5,850-$6,650
Payments for purchases of rental equipment
$(4,750)-$(5,350)
Proceeds from sales of rental equipment
$1,350-$1,550
Payments for purchases of non-rental equipment and intangible assets, net of proceeds from sales and insurance proceeds from damaged equipment
$(300)-$(400)
Free cash flow excluding restructuring related payments
Analysts on Wall Street project that United Rentals (URI - Free Report) will announce quarterly earnings of $11.67 per share in its forthcoming report, representing an increase of 11.5% year over year. Revenues are projected to reach $4.23 billion, increasing 7.3% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific United Rentals metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenues- Equipment rentals' will reach $3.67 billion. The estimate suggests a change of +7.3% year over year.
Analysts forecast 'Revenues- Sales of rental equipment' to reach $336.23 million. The estimate indicates a change of +6.1% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Service and other revenues' at $100.07 million. The estimate indicates a year-over-year change of +5.3%.
The consensus estimate for 'Revenues- Contractor supplies sales' stands at $44.19 million. The estimate points to a change of +7.8% from the year-ago quarter.
It is projected by analysts that the 'Revenues- Sales of new equipment' will reach $80.00 million. The estimate points to a change of +6.7% from the year-ago quarter.
Analysts' assessment points toward 'Gross Margin/Profit- Equipment rentals' reaching $1.41 billion. Compared to the current estimate, the company reported $1.32 billion in the same quarter of the previous year.
Analysts expect 'Gross Margin/Profit- Sales of rental equipment' to come in at $151.93 million. Compared to the present estimate, the company reported $146.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Gross Margin/Profit- Service and other' will likely reach $41.13 million. Compared to the current estimate, the company reported $39.00 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Gross Margin/Profit- Contractor supplies sales' of $14.02 million. The estimate is in contrast to the year-ago figure of $13.00 million.
Analysts predict that the 'Gross Margin/Profit- Sales of new equipment' will reach $14.85 million. The estimate is in contrast to the year-ago figure of $14.00 million.
View all Key Company Metrics for United Rentals here>>>
Over the past month, shares of United Rentals have returned -2.9% versus the Zacks S&P 500 composite's +0.6% change. Currently, URI carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Key Takeaways United Rentals is expected to post higher Q2 revenues, driven by rental demand and specialty growth.URI is likely to benefit from higher fleet productivity and rate management despite inflationary costs.URI's Q2 EPS is projected to rise 11.5%, while revenues are expected to increase 7.3% year over year. United Rentals, Inc. (URI - Free Report) is scheduled to report its second-quarter 2026 results on July 22, after market close.
In the last reported quarter, the company’s adjusted earnings per share (EPS) and total revenues topped the Zacks Consensus Estimate by 7.8% and 2.9%, respectively. Also, year over year, the metrics grew 9.6% and 7.2%, respectively.
URI’s earnings surpassed estimates in one of the trailing four quarters and missed on the other three occasions, with a negative average surprise of 1.5%.
How are Estimates Placed for URI Stock?The Zacks Consensus Estimate for second-quarter EPS has inched down to $11.67 from $11.68 in the past seven days. However, the estimated figure indicates an 11.5% increase from the year-ago quarter’s earnings of $10.47 per share.
The consensus estimate for total revenues is pegged at $4.23 billion, indicating growth of 7.3% from the prior-year quarter’s level.
Factors at Play for United Rentals’ Q2 ResultsRevenues
The top-line performance of United Rentals is expected to have grown year over year from favorable secular trends in non-residential construction, infrastructure modernization, power, manufacturing, mining and data center development. These are likely to have resulted in healthy equipment rental demand, thus boosting the contributions from the General Rentals business segment (which contributed 67.3% to first-quarter 2026 total revenues) and the Specialty business segment (which contributed 32.7% to first-quarter 2026 total revenues).
Specialty rentals, which offer higher margins and remain central to United Rentals’ expansion strategy, are expected to have supported revenue growth both organically and through cold starts that added capacity in new markets. The company has also broadened its presence through strategic acquisitions and the introduction of new products, further strengthening the specialty offerings and market reach.
Moreover, URI’s extensive and diverse fleet allows it to manage its rental fleet through a life-cycle approach that focuses on satisfying customer demand and optimizing utilization levels. This business approach is expected to have enabled the company to serve large customers that require a wide range of equipment. Also, acquisitions and joint ventures are likely to have catalyzed the growth trends in the to-be-reported quarter.
For the second quarter, the Zacks Consensus Estimate for revenues from General Rentals and Specialty business segments is pegged at $2.82 billion and $1.41 billion, reflecting year-over-year growth of 4.7% and 13.2%, respectively. The consensus mark for revenues from equipment rentals is expected to increase to $3.67 billion from $3.42 billion reported a year ago.
Earnings & Margins
United Rentals is expected to report year-over-year bottom-line growth in the second quarter, attributable to higher fleet productivity and disciplined rate management. These factors, along with continued cost control, are likely to have contributed to improved profitability and earnings performance.
Although inflationary pressures and elevated delivery costs are likely to have partly offset these gains, the ongoing in-house initiatives by URI and elevated top-line leverage are expected to have more than overpowered the headwinds.
The consensus estimates for equipment rentals gross profit under the General Rentals and Specialty business segments are pegged at $846 million and $590 million, indicating year-over-year growth from $796 million and $525 million, respectively.
What the Zacks Model Indicates for URIOur proven model conclusively predicts an earnings beat for United Rentals this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
URI’s Earnings ESP: URI has an Earnings ESP of +1.39%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank of URI: The company currently has a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat EarningsHere are some other companies in the Zacks Construction sector, which according to our model, have the right combination of elements to post an earnings beat.
Boise Cascade Company (BCC - Free Report) has an Earnings ESP of +6.50% and a Zacks Rank of 1 at present.
Boise Cascade’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 40.8%. The company’s earnings for the second quarter of 2026 are expected to decline 25% year over year.
Dycom Industries, Inc. (DY - Free Report) currently has an Earnings ESP of +0.47% and a Zacks Rank of 1.
Dycom’s earnings beat estimates in each of the last four quarters, the average surprise being 25%. The company’s earnings for the second quarter of fiscal 2027 are expected to increase 39.3% year over year.
CRH plc (CRH - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank of 3.
CRH’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 0.7%. The company’s earnings for the second quarter of 2026 are expected to inch up 1% year over year.
California Public Employees Retirement System cut its holdings in United Rentals, Inc. (NYSE:URI – Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,513 shares of the construction company’s stock after selling 4,602 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of United Rentals worth $83,430,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in URI. Aventura Private Wealth LLC purchased a new position in United Rentals during the fourth quarter valued at approximately $27,000. Core Wealth Advisors LLC purchased a new stake in United Rentals during the fourth quarter worth $28,000. MV Capital Management Inc. purchased a new stake in United Rentals during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC bought a new stake in United Rentals during the 4th quarter valued at $32,000. Finally, Fortitude Family Office LLC boosted its position in United Rentals by 121.1% during the 4th quarter. Fortitude Family Office LLC now owns 42 shares of the construction company’s stock valued at $34,000 after acquiring an additional 23 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.
United Rentals Stock Down 0.1% Shares of URI stock opened at $1,043.73 on Monday. United Rentals, Inc. has a 1-year low of $701.59 and a 1-year high of $1,143.69. The stock’s fifty day moving average price is $1,041.31 and its 200 day moving average price is $911.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.74. The company has a market cap of $65.39 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.67 and a beta of 1.79.
United Rentals (NYSE:URI – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $9.71 EPS for the quarter, missing analysts’ consensus estimates of $11.47 by ($1.76). United Rentals had a net margin of 15.32% and a return on equity of 30.56%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the business posted $8.86 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts expect that United Rentals, Inc. will post 46.85 earnings per share for the current fiscal year.
United Rentals Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.97 per share. The ex-dividend date was Wednesday, May 13th. This represents a $7.88 annualized dividend and a dividend yield of 0.8%. United Rentals’s dividend payout ratio is 20.10%.
Insider Activity at United Rentals In related news, CEO Matthew John Flannery sold 22,768 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $984.98, for a total value of $22,426,024.64. Following the completion of the transaction, the chief executive officer directly owned 99,980 shares of the company’s stock, valued at $98,478,300.40. This trade represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig Adam Pintoff sold 2,466 shares of United Rentals stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $963.00, for a total transaction of $2,374,758.00. Following the completion of the sale, the executive vice president owned 14,774 shares of the company’s stock, valued at $14,227,362. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,088 shares of company stock worth $25,628,877. 0.47% of the stock is owned by insiders.
Wall Street Analyst Weigh In Several research firms have recently commented on URI. BNP Paribas Exane raised United Rentals from a “neutral” rating to an “outperform” rating and set a $1,320.00 price target for the company in a research report on Monday, June 29th. Citigroup raised their price objective on United Rentals from $1,210.00 to $1,270.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Barclays lifted their target price on United Rentals from $600.00 to $715.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Evercore reiterated an “outperform” rating and issued a $1,101.00 target price on shares of United Rentals in a report on Monday, May 11th. Finally, Sanford C. Bernstein set a $903.00 price target on shares of United Rentals and gave the company an “outperform” rating in a research report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,140.00.
Get Our Latest Report on United Rentals
United Rentals Company Profile (Free Report)
United Rentals, Inc (NYSE: URI) is a leading equipment rental company headquartered in Stamford, Connecticut. The firm provides rental solutions and related services to construction, industrial, commercial, and municipal customers. Its business model centers on providing access to a broad fleet of equipment on a short-term or long-term basis, enabling customers to avoid the capital expenditure of ownership and to scale equipment use to match project needs.
The company’s product and service offerings span general construction equipment and a range of specialty categories, including aerial work platforms, earthmoving and excavation machines, material handling equipment, pumps, power and HVAC systems, trench and shoring solutions, and tools.
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Key Takeaways United Rentals raised 2026 guidance after record rental revenues and continued specialty segment growth.Fluor's pipeline & reimbursable backlog support long-term growth despite execution & geopolitical risks.URI earnings estimates moved up, while FLR estimates edged lower, even as both project year-over-year growth. The multiyear infrastructure investment cycle is benefiting infrastructure firms like United Rentals, Inc. (URI - Free Report) and Fluor Corporation (FLR - Free Report) . Growth in public and private funding is boosting demand for large-scale industrial and infrastructure projects.
United Rentals, a renowned equipment rental company, is benefiting from robust demand for specialty rentals and general equipment, supported by non-residential construction, infrastructure, power, industrial manufacturing and data center projects. Meanwhile, Fluor, a global engineering, procurement and construction (EPC) contractor, is leveraging a growing pipeline of large, complex projects across nuclear, LNG, power, mining, life sciences and advanced manufacturing.
Let’s closely compare the fundamentals of the two infrastructure stocks for a better investment decision.
The Case for United Rentals StockThis Connecticut-based equipment rental company is benefiting from favorable secular trends in non-residential construction, infrastructure modernization, power, manufacturing, mining and data center development, which continue to drive healthy equipment rental demand. During the first quarter of 2026, equipment rental revenues climbed 8.7% year over year to a record $3.42 billion, driven by 2.3% growth in fleet productivity and a 5.7% expansion in average fleet size.
Besides, URI’s Specialty segment remains another major growth engine, supported by expanding product offerings and increasing demand for higher-value rental solutions. The segment now represents 36.5% of total revenues (as of 2025) and has delivered a robust 20.2% revenue CAGR over the past decade, reflecting sustained customer adoption. In the first quarter of 2026, Specialty rental revenues surged 13.8% year over year to a record $1.19 billion, significantly outpacing the General Rentals business. Growth was broad-based across all specialty lines, with the company opening 17 new greenfield (cold start) locations during the quarter to expand market reach.
Encouraged by strong customer feedback, particularly for large projects, United Rentals raised its 2026 guidance, expecting total revenues of $16.9-$17.4 billion (from $16.8-$17.3 billion) and higher EBITDA, reflecting confidence in continued demand for equipment rentals and market share gains. Moreover, the company expects to play a key role in the 2026 FIFA World Cup-related projects, adding another growth catalyst.
Besides market tailwinds, URI’s capital allocation approach is also encouraging for stabilizing its competitive position in the market. Since its founding, the company has completed nearly 250 acquisitions to expand its geographic footprint, specialty offerings and one-stop-shop capabilities. United Rentals generated more than $1 billion in first-quarter 2026 free cash flow and maintained a conservative net leverage ratio of 1.9x, providing ample financial flexibility. The company also returned $500 million to shareholders through dividends and share repurchases during the quarter and plans to repurchase approximately $1.5 billion of stock in 2026, underscoring its balanced approach toward growth investments and shareholder value creation.
The Case for Fluor StockFluor is indeed benefiting from mid and long-term market tailwinds given its exposure to end markets like energy, mining & metals, life sciences, advanced manufacturing, data centers, and government and mission solutions. During the first quarter of 2026, management noted that front-end engineering and study work now represent more than $60 billion of potential future backlog if clients proceed with execution phases, while the broader opportunity pipeline has expanded 50% over the past year.
During the first quarter of 2026, consolidated new awards totaled $2.7 billion, with 98% reimbursable, while backlog rose slightly sequentially to $25.7 billion and remained 82% reimbursable. Management also highlighted that margins on newly booked work were materially above the existing backlog margin profile. Fluor further strengthened shareholder returns through more than $500 million of repurchases during the quarter and expects approximately $1.4 billion of buybacks in 2026 following the completion of NuScale monetization.
Although FLR’s diversified portfolio positions it at a stable juncture during commodity and economic cycles, the ongoing macro uncertainties, execution risks and other near-term volatility are taking a toll on it. During first-quarter 2026, Urban Solutions recorded a $37 million charge tied to cost growth and declining productivity on a mining project in the Americas. Management also cited temporary project slowdowns tied to Middle East geopolitical uncertainty. Several infrastructure projects remain in completion phases through 2026 and early 2027, leaving the company exposed to additional closeout and recovery risks.
Fluor operates in a cyclical environment wherein capital spending decisions remain closely tied to commodity prices, energy markets and macroeconomic conditions. Management acknowledged that some award conversions remain weighted toward the back half of 2026 and that prolonged geopolitical instability could delay client spending decisions, increase inflationary pressures and disrupt supply chains. Also, its reach outside national borders exposes FLR to foreign currency fluctuations and legal uncertainties.
Stock Performance & ValuationAs witnessed from the chart below, in the year-to-date period, United Rentals’ share price performance has been above Fluor’s and the broader Construction sector.
Image Source: Zacks Investment Research
Considering valuation, over the last five years, United Rentals has been trading above Fluor on a forward 12-month price-to-earnings (P/E) ratio basis.
Image Source: Zacks Investment Research
Overall, from these technical indicators, it can be deduced that URI stock offers an increasing growth trend but with a premium valuation, while FLR stock offers a diminishing growth trend with a discounted valuation.
Comparing EPS Estimate Trends: URI vs. FLRThe Zacks Consensus Estimate for URI’s 2026 and 2027 earnings has moved upward in the past seven days to $46.77 and $53.01 per share, respectively. The revised estimates for 2026 and 2027 imply year-over-year growth of 11.2% and 13.3%, respectively.
URI's EPS Trend
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for FLR’s 2026 and 2027 earnings has trickled down in the past 30 days to $2.63 and $3.08 per share, respectively. However, the estimates for 2026 and 2027 imply year-over-year improvements of 20.1% and 16.9%, respectively.
FLR's EPS Trend
Image Source: Zacks Investment Research
Return on Equity (ROE) of URI & FLR StocksUnited Rentals’ trailing 12-month ROE of 30.56% significantly exceeds Fluor’s average, underscoring its efficiency in generating shareholder returns.
Image Source: Zacks Investment Research
Which Stock to Go for Now: URI or FLR?United Rentals continues to benefit from strong secular demand across infrastructure, power, manufacturing, mining and data center projects, while its fast-growing Specialty business raised 2026 guidance and its disciplined acquisition strategy reinforces confidence in sustained earnings growth. Healthy free cash flow, a conservative balance sheet and meaningful share repurchases further strengthen its investment appeal. Its superior return on equity and stronger estimate revision trend reflect better operational momentum.
Fluor also possesses an attractive long-term opportunity, supported by a sizable opportunity pipeline, reimbursable backlog and exposure to energy, mining and advanced manufacturing projects. However, execution challenges, geopolitical uncertainty, project timing risks and downward earnings estimate revisions temper its near-term outlook.
Importantly, URI stock’s Zacks Rank #2 (Buy) seems favorable over FLR stock’s Zacks Rank #5 (Strong Sell). Overall, United Rentals stands out as the better investment today, with its diversified rental platform, resilient cash-generation capabilities and stronger earnings visibility outweighing valuation concerns, making it the more compelling choice over Fluor for long-term investors. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
United Rentals (URI - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on July 22, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis equipment rental company is expected to post quarterly earnings of $11.64 per share in its upcoming report, which represents a year-over-year change of +11.2%.
Revenues are expected to be $4.25 billion, up 7.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.12% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for United Rentals?For United Rentals, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.56%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that United Rentals will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that United Rentals would post earnings of $9.01 per share when it actually produced earnings of $9.71, delivering a surprise of +7.77%.
Over the last four quarters, the company has beaten consensus EPS estimates just once.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
United Rentals appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
According to recent news, EquipmentShare.com raised its FY26 revenue guidance on July 9 and authorized a $500 million share repurchase program.
Kratos shares rose sharply on Tuesday after the company announced it had received approximately $400 million in new funding from the Department of Defense for hypersonic systems and other national security programs.
Cheniere Energy said it will issue its earnings release for the second quarter on Thursday, Aug. 6, before the market opens.
Citigroup analyst Asiya Merchant, on Monday, maintained Super Micro Computer with a Neutral and raised the price target from $31 to $33.
Morgan Stanley analyst Richard Hill, on Friday, maintained Phillips Edison with an Equal-Weight rating and raised the price target from $38 to $42.
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Price Action:
Kratos shares gained 7.2% to settle at $50.36 on Tuesday. Equipmentshare shares rose 3.1% to close at $17.34 during the session. Cheniere Energy shares rose 0.7% to settle at $265.03 on Tuesday. Phillips Edison shares gained 0.7% to close at $42.46. Pool shares fell 0.4% to settle at $210.07 on Tuesday. Super Micro Computer shares fell 0.1% to close at $ 27.65 during the session. Photo via Shutterstock
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SummaryUnited Rentals (URI) remains rated Hold as Specialty segment margin pressures persist despite strong revenue and industry sentiment.URI’s valuation now trades above historical levels, demanding high-quality margin and cash flow improvements to justify further upside.Second quarter results must demonstrate Specialty margin recovery, lower delivery costs, and improved capital efficiency to warrant a rerating.Management’s raised guidance is only bullish if accompanied by EBITDA and Specialty margin gains, not just revenue from fleet or ancillary growth.Looking for higher risk/reward options trading ideas? I offer this and much more at my exclusive investing ideas service, The Total Pharma Tracker. Learn More » naveebird/iStock via Getty Images
United Rentals (URI) is due to report its second-quarter results in roughly two weeks. In January, I wrote an article on URI where I argued that although Specialty Rentals was its main
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
STAMFORD, Conn.--(BUSINESS WIRE)--United Rentals, Inc. (NYSE: URI) will hold its second quarter 2026 conference call with Matt Flannery, chief executive officer, and Ted Grace, chief financial officer, on Thursday, July 23, 2026 at 8:30 a.m. Eastern Time. The conference call is available live by audio webcast at unitedrentals.com, where it will be archived until the next earnings call. The call is also accessible by dialing 800-579-2568 (international: 785-424-1222). The replay number for the c.
Key Takeaways United Rentals raised 2026 guidance after strong rental demand across construction and industrial markets.URI's Specialty business delivered record revenue growth, supported by new locations and broader offerings.United Rentals faces restructuring costs and macro risks despite strong free cash flow and capital returns. United Rentals, Inc. (URI - Free Report) surged 38.8% in the past three months, outperforming the Zacks Building Products - Miscellaneous industry, the broader Zacks Construction sector and the S&P 500 Index.
This Connecticut-based equipment rental company is benefiting from favorable secular trends in non-residential construction, infrastructure modernization, power, manufacturing, mining and data center development, which continue to drive healthy equipment rental demand. Raised 2026 guidance, robust free cash flow generation and disciplined capital allocation are likely to have strengthened investor confidence, supporting the stock's recent outperformance and reinforcing expectations for sustained earnings and shareholder value growth.
Although near-term challenges like elevated restructuring costs, margin pressures and ongoing macroeconomic uncertainties are concerning, the positive industry dynamics and expanding specialty offerings of URI are more than likely to boost mid and long-term growth.
Image Source: Zacks Investment Research
Let’s decode the factors molding United Rentals’ prospects in the upcoming period.
Factors Driving United Rentals’ Growth MomentumStrong Equipment Rental Demand: United Rentals is benefiting from sustained demand across both construction and industrial markets, reinforcing its long-term growth outlook. During the first quarter of 2026, equipment rental revenues climbed 8.7% year over year to a record $3.42 billion, driven by 2.3% growth in fleet productivity and a 5.7% expansion in average fleet size. Management highlighted robust activity in non-residential construction, infrastructure, power, manufacturing, mining and data centers, while healthcare and industrial manufacturing projects also gained traction.
URI expects to play a key role in the 2026 FIFA World Cup-related projects, adding another growth catalyst. Encouraged by strong customer feedback, particularly for large projects, United Rentals raised its 2026 guidance, expecting total revenues of $16.9-$17.4 billion (from $16.8-$17.3 billion) and higher EBITDA, reflecting confidence in continued demand for equipment rentals and market share gains.
Disciplined Acquisitions & Capital Allocation Efforts: United Rentals continues to strengthen its competitive position through strategic acquisitions while maintaining a disciplined capital allocation framework. Since its founding, the company has completed nearly 250 acquisitions to expand its geographic footprint, specialty offerings and one-stop-shop capabilities. Alongside inorganic growth, management continues investing in fleet expansion, increasing 2026 gross rental capital expenditure guidance to $4.4-$4.8 billion to meet rising customer demand.
Despite these investments, United Rentals generated more than $1 billion in first-quarter 2026 free cash flow and maintained a conservative net leverage ratio of 1.9x, providing ample financial flexibility. The company also returned $500 million to shareholders through dividends and share repurchases during the quarter and plans to repurchase approximately $1.5 billion of stock in 2026, underscoring its balanced approach toward growth investments and shareholder value creation.
Specialty Business Continues to Outperform: United Rentals' Specialty segment remains a major growth engine, supported by expanding product offerings and increasing demand for higher-value rental solutions. Specialty rental revenues surged 13.8% year over year in the first quarter of 2026 to a record $1.19 billion, significantly outpacing the General Rentals business. Growth was broad-based across all specialty lines, with the company opening 17 new greenfield ("cold start") locations during the quarter to expand market reach.
Specialty segment now represents 36.5% of total revenues (as of 2025) and has delivered a robust 20.2% revenue CAGR over the past decade, reflecting sustained customer adoption. Although margins faced temporary pressure from higher depreciation and delivery costs, management continues investing in this business, viewing Specialty as a key driver of long-term revenue growth, differentiation and cross-selling opportunities.
URI’s ROE PositionUnited Rentals' superior return on equity (ROE) indicates its growth potential. It provides solid investment returns relative to the industry average, as reflected in its current trailing 12-month ROE of 30.56%. This compares favorably with the industry's ROE of 28.04%. The factor mentioned above indicates the company’s efficiency in using its shareholders’ funds, along with its ability to generate profit with minimum capital usage.
Image Source: Zacks Investment Research
Can United Rentals Stay Ahead of Construction Rivals?United Rentals enjoys a distinct competitive advantage over peers like Armstrong World Industries, Inc. (AWI - Free Report) , Masco Corporation (MAS - Free Report) and Argan, Inc. (AGX - Free Report) because it directly benefits from rising equipment rental demand across virtually every major construction and industrial end market.
While Armstrong World and Masco primarily depend on commercial interior renovation and residential repair and remodeling activity, and Argan's growth is tied largely to power generation and industrial EPC projects, United Rentals serves all these markets simultaneously through its broad equipment rental platform. Strong demand from infrastructure, non-residential construction, manufacturing, data centers, utilities, mining and large industrial projects continues to support fleet utilization and rental pricing.
URI’s unmatched scale, approximately $23 billion rental fleet, extensive North American branch network and rapidly expanding Specialty business further strengthen its competitive position. Coupled with strategic acquisitions, robust free cash flow generation and disciplined capital allocation, these advantages enable United Rentals to outperform renowned peers, like Armstrong World, Masco and Argan, by capturing a broader range of growth opportunities while delivering more resilient earnings across market cycles.
Earnings Estimate Trend of URIURI’s earnings estimates for 2026 and 2027 have moved downward over the past 30 days to $46.76 and $52.75 per share, respectively. However, the revised estimates for 2026 and 2027 imply year-over-year improvements of 11.2% and 12.8%, respectively.
Image Source: Zacks Investment Research
What is Restricting United Rentals’ Near-Term Prospects?United Rentals faces several near-term challenges despite its strong operating momentum. It continues to incur restructuring costs tied to branch consolidations and workforce optimization, while the Specialty segment experienced margin pressure from higher depreciation, delivery expenses and a shift toward lower-margin ancillary revenues.
More broadly, management remains exposed to macroeconomic uncertainties, including inflation, elevated interest rates, tariffs, supply-chain disruptions and potential slowdowns in construction or industrial activity. Any weakening in large project spending or customer demand could reduce fleet utilization, pressure rental pricing and moderate revenue growth, potentially weighing on profitability and cash generation.
URI Stock Trading at a PremiumURI stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 21.48, as the trend lines suggest below.
Image Source: Zacks Investment Research
Can URI Stock Maintain Its Momentum in the Near Future?United Rentals remains well-positioned to sustain its long-term growth trajectory, supported by strong demand across non-residential construction, infrastructure, power, manufacturing, mining and data center projects. Its robust fleet utilization and raised 2026 guidance underscore management’s confidence in continued market share gains and earnings growth. The company’s disciplined acquisition strategy, industry-leading rental fleet, strong free cash flow generation and balanced capital allocation further reinforce its competitive advantage.
Although the stock trades at a premium and near-term headwinds, including restructuring costs, margin pressure and macroeconomic uncertainty, could create periodic volatility, these challenges appear manageable given the favorable end-market fundamentals. While recent downward earnings estimate revisions warrant monitoring, forecasts still indicate healthy double-digit earnings growth over the next two years.
Supported by superior return on equity and a current Zacks Rank #2 (Buy), URI stock appears capable of maintaining its market outperformance. Long-term investors can consider buying the stock at current levels rather than waiting for a better opportunity, given its durable growth drivers and resilient business model. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways United Rentals raised 2026 guidance after record first-quarter revenues, adjusted EBITDA and EPS.URI grew rental revenues 8.7% as fleet productivity improved and specialty rental demand remained strong.United Rentals is expanding fleet investment while pursuing cost controls, buybacks and dividends. United Rentals, Inc. (URI - Free Report) appears well-positioned to protect profitability through higher fleet efficiency and disciplined execution despite lingering cost pressures across the equipment rental industry. It kicked off 2026 with record first-quarter revenues, adjusted EBITDA and earnings per share, while raising its full-year guidance, reflecting confidence in demand across large construction, infrastructure, power and industrial projects.
A key driver behind the strong performance was improved fleet productivity, which increased 2.3% year over year and helped owned equipment rental revenues grow 6.5%. Rental revenues climbed 8.7% to a record $3.4 billion, supported by fleet expansion, healthy pricing and robust specialty demand. The specialty business continued to shine with 13.8% rental revenue growth, fueled by strength across all product categories and continued investments in new locations.
Cost inflation, however, remains an overhang. Higher depreciation, delivery expenses and ancillary revenue mix weighed on specialty margins, while tariffs, labor costs and equipment replacement expenses continue to pose risks. To counter these pressures, United Rentals has intensified cost-control efforts through branch consolidation, workforce optimization and tighter management of variable expenses. These initiatives contributed to underlying EBITDA margin expansion despite restructuring charges during the first quarter of 2026.
URI is also investing aggressively where returns appear strongest. It raised its 2026 gross rental CapEx outlook to support fleet growth in high-demand markets while maintaining a healthy 1.9x leverage ratio and generating more than $1 billion in quarterly free cash flow. Combined with ongoing share repurchases and dividend payments, United Rentals' capital allocation strategy reinforces shareholder value.
If fleet productivity continues improving alongside healthy project activity, United Rentals appears well-equipped to offset cost headwinds and sustain profitable growth through 2026.
United Rentals, EMCOR & Argan: Rental Race OnUnited Rentals operates at the center of North America's equipment rental market, benefiting from sustained demand across non-residential construction, infrastructure, manufacturing and power projects. Unlike EMCOR Group, Inc. (EME - Free Report) , which generates revenues by designing, installing and maintaining complex building systems, URI profits from rising equipment utilization and fleet productivity as contractors increasingly prefer to rent rather than own equipment.
Meanwhile, Argan, Inc. (AGX - Free Report) remains more dependent on large EPC contracts, particularly in power generation, making its revenues more project-driven and less diversified than United Rentals'. While EMCOR gains from expanding MEP services and Argan capitalizes on utility-scale energy investments, URI enjoys broader exposure across multiple end markets through its extensive fleet and specialty rental offerings.
URI’s scale, pricing power and recurring rental demand provide greater resilience to construction cycles than those of EMCOR and Argan, strengthening its long-term competitive positioning.
URI Stock’s Price Performance & Valuation TrendShares of this Connecticut-based equipment rental company climbed 35.8% year to date, outperforming the Zacks Building Products - Miscellaneous industry, the broader Zacks Construction sector and the S&P 500 Index.
Image Source: Zacks Investment Research
URI stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 21.9, as the trend lines suggest below.
Image Source: Zacks Investment Research
Earnings Estimate Trend of URIURI’s earnings estimates for 2026 and 2027 have moved downward over the past seven days to $46.76 and $52.75 per share, respectively. However, the revised estimates for 2026 and 2027 imply year-over-year improvement of 11.2% and 12.8%, respectively.
Image Source: Zacks Investment Research
United Rentals currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
United Rentals (URI - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for United Rentals basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for United Rentals imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for United RentalsThis equipment rental company is expected to earn $47.26 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for United Rentals. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.4%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of United Rentals to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at United Rentals (URI - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. United Rentals currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for URI that show why this equipment rental company shows promise as a solid momentum pick.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For URI, shares are up 0.24% over the past week while the Zacks Building Products - Miscellaneous industry is up 3.71% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 10.41% compares favorably with the industry's 2.12% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of United Rentals have risen 45.92%, and are up 43.52% in the last year. In comparison, the S&P 500 has only moved 12.27% and 23.62%, respectively.
Investors should also take note of URI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now URI is averaging 508,652 shares for the last 20 days..
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with URI.
Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost URI's consensus estimate, increasing from $46.99 to $47.26 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that URI is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep United Rentals on your short list.
