United Rentals reports record Q1; raises FY2024 guidance for Yak acquisition

UNITED RENTALS NORTH AMERICA INC

Total revenue $3.485B, rental revenue $2.929B; net income $542M (record Q1).
GAAP diluted EPS $8.04; adjusted EPS $9.15; adjusted EBITDA $1.587B (record Q1).
Fleet productivity +4.0% YoY; free cash flow $869M, up 81.8% YoY.
FY2024 guidance raised: revenue $14.95-15.45B, adjusted EBITDA $7.04-7.29B.
Quarterly dividend of $1.63/share declared, payable May 22 to holders of record May 8.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED RENTALS NORTH AMERICA INC reported fiscal 2024 results: revenue $14.950 billion to $15.450 billion. Guidance raised.

Period: fiscal 2024
Revenue: $14.950 billion to $15.450 billion
Guidance: raised
Result: guidance update

Exact text from the filing

The company has raised its 2024 outlook to reflect the expected contribution from the acquisition of Yak, which was completed on March 15, 2024. For fiscal 2024, Yak is expected to provide total revenue of approximately $300 million, adjusted EBITDA of approximately $140 million, net cash provided by operating activities of approximately $150 million and free cash flow of approximately $50 million, while adding approximately $100 million of gross rental purchases. Current Outlook Prior Outlook Total revenue $14.950 billion to $15.450 billion $14.650 billion to $15.150 billion

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED RENTALS NORTH AMERICA INC reported first quarter of 2024 results: revenue $3.485 billion, net income $542 million, EPS $8.04.

Period: first quarter of 2024
Revenue: $3.485 billion
Net income: $542 million
EPS: $8.04
Result: reported results

Exact text from the filing

First Quarter 2024 Highlights • Total revenue of $3.485 billion, including rental revenue 2 of $2.929 billion. • Net income of $542 million, at a margin 3 of 15.6%. GAAP diluted earnings per share of $8.04, and adjusted EPS 4 of $9.15.

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Source: SEC EDGAR

accession 0001067701-24-000018

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