United Rentals Inc (BSP:U1RI34)
R$ 155 -12.05 (-7.21%) Market Cap: 284.80 Bil Enterprise Value: 365.52 Bil PE Ratio: 20.54 PB Ratio: 6.02 GF Score: 82/100
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Q3 2024 United Rentals Inc Earnings Call Transcript

Oct 24, 2024 / 12:30 PM GMT
Release Date Price: R$166.94 (-1.41%)

Key Points

Positve
  • United Rentals Inc (URI) reported a 6% year-over-year increase in total revenue, reaching almost $4 billion, with rental revenue growing over 7% to $3.5 billion.
  • The company achieved a third-quarter record in adjusted EBITDA, which increased to $1.9 billion, translating to a margin of almost 48%.
  • Specialty rental revenue grew impressively by 24% year-over-year, demonstrating strong performance in this segment.
  • United Rentals Inc (URI) returned nearly $500 million to shareholders in the quarter through share buybacks and dividends, showcasing strong capital allocation.
  • The company maintained a strong balance sheet with net leverage of 1.8 times and total liquidity of almost $2.9 billion, indicating financial stability.
Negative
  • The ongoing normalization of the used equipment market resulted in a $43 million headwind to adjusted EBITDA.
  • SG&A expenses increased by $40 million year-over-year, reflecting a larger business and some discrete items in the quarter.
  • The adjusted EBITDA margin experienced about 140 basis points of compression, excluding the impact of used equipment sales.
  • The company faced headwinds in the petrochemical sector, with upstream, midstream, and refining segments showing declines.
  • There is uncertainty regarding the timing of when interest rate cuts will translate into shovel-ready work, impacting future growth projections.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

URI.N - United Rentals Inc
Q3 2024 United Rentals Inc Earnings Call
Oct 24, 2024 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Okay. Good morning 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 more complete description of these and other possible risks, please refer to the Company's annual report on Form 10 K for the year
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