United Rentals, Inc., through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. The specialty segment rents specialty construction products, including trench safety equipment consists of trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers, and line testing equipment for underground work; power and heating, ventilating, and air conditioning equipment, such as portable diesel generators, electrical distribution equipment, and temperature control equipment; fluid solutions equipment for fluid containment, transfer, and treatment; and mobile storage equipment and modular office space. This segment serves construction companies involved in infrastructure projects, and municipalities and industrial companies. It also sells aerial lifts, reach forklifts, telehandlers, compressors, and generators; construction consumables, tools, small equipment, and safety supplies; and parts for equipment that is owned by its customers, as well as provides repair and maintenance services. The company sells used equipment through its sales force, brokers, website, directly to manufacturers, and at auctions. The company operates a network of 1,360 rental locations in the United States, Canada, Europe, Australia, and New Zealand. United Rentals, Inc. was incorporated in 1997 and is headquartered in Stamford, Connecticut.

United Rentals, Inc.

Equipment Rentals

Equipment Rentals %Chg

Equipment Rentals Common Size

Sales of Rental Equipment

Sales of Rental Equipment %Chg

Sales of Rental Equipment Common Size

Sales of New Equipment

Sales of New Equipment %Chg

Sales of New Equipment Common Size

Contractor Supplies Sales

Contractor Supplies Sales %Chg

Contractor Supplies Sales Common Size

Service and Other Revenues

Service and Other Revenues %Chg

Service and Other Revenues Common Size

Total Revenues

Total Revenues %Chg

Total Revenues Common Size

Cost of Equipment Rentals, Excluding Depreciation

Cost of Equipment Rentals, Excluding Depreciation %Chg

Cost of Equipment Rentals, Excluding Depreciation Common Size

Depreciation of Rental Equipment

Depreciation of Rental Equipment %Chg

Depreciation of Rental Equipment Common Size

Cost of Rental Equipment Sales

Cost of Rental Equipment Sales %Chg

Cost of Rental Equipment Sales Common Size

Cost of New Equipment Sales

Cost of New Equipment Sales %Chg

Cost of New Equipment Sales Common Size

Cost of Contractor Supplies Sales

Cost of Contractor Supplies Sales %Chg

Cost of Contractor Supplies Sales Common Size

Cost of Service and Other Revenues

Cost of Service and Other Revenues %Chg

Cost of Service and Other Revenues Common Size

Total Cost of Revenues

Total Cost of Revenues %Chg

Total Cost of Revenues Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Selling, General and Administrative Expenses

Selling, General and Administrative Expenses %Chg

Selling, General and Administrative Expenses Common Size

Merger Related Costs

Merger Related Costs %Chg

Merger Related Costs Common Size

Restructuring Charge

Restructuring Charge %Chg

Restructuring Charge Common Size

Non-Rental Depreciation and Amortization

Non-Rental Depreciation and Amortization %Chg

Non-Rental Depreciation and Amortization Common Size

Operating Income

Operating Income %Chg

Operating Income Common Size

Interest Expense, Net

Interest Expense, Net %Chg

Interest Expense, Net Common Size

Other Income, Net

Other Income, Net %Chg

Other Income, Net Common Size

Income Before Provision for Income Taxes

Income Before Provision for Income Taxes %Chg

Income Before Provision for Income Taxes Common Size

Provision for Income Taxes

Provision for Income Taxes %Chg

Provision for Income Taxes Common Size

Net Income

Net Income %Chg

Net Income Common Size

Basic Earnings per Share

Basic Earnings per Share %Chg

Basic Earnings per Share Common Size

Diluted Earnings per Share

Diluted Earnings per Share %Chg

Diluted Earnings per Share Common Size

Dividends Declared per Share

Dividends Declared per Share %Chg

Dividends Declared per Share Common Size

Cost of Sales

Cost of Sales %Chg

Cost of Sales Common Size

Gross Profit Margin

Gross Profit Margin %Chg

Gross Profit Margin Common Size

Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

Selling, General & Administrative Expenses Common Size

Depreciation & Amortization Expenses

Depreciation & Amortization Expenses %Chg

Depreciation & Amortization Expenses Common Size

Other Operating Expenses

Other Operating Expenses %Chg

Other Operating Expenses Common Size

Operating Profit

Operating Profit %Chg

Operating Profit Common Size

Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Interest Expense

Interest Expense %Chg

Interest Expense Common Size

Non-Operating Income

Non-Operating Income %Chg

Non-Operating Income Common Size

Total Non-Operating Income

Total Non-Operating Income %Chg

Total Non-Operating Income Common Size

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	4,229	3,943	3,719	4,095	3,992	3,773
Total Revenues %Chg	5.9%	4.5%	6.7%	9.8%	6%	6.2%
Equipment Rentals
Sales of Rental Equipment
Sales of New Equipment
Contractor Supplies Sales
Service and Other Revenues
Cost of Sales	2,564	2,410	2,363	2,457	2,344	2,255
Cost of Equipment Rentals, Excluding Depreciation
Depreciation of Rental Equipment
Cost of Rental Equipment Sales
Cost of New Equipment Sales
Cost of Contractor Supplies Sales
Cost of Service and Other Revenues
Gross Profit	1,665	1,533	1,356	1,638	1,648	1,518
Gross Profit
Gross Profit Margin	39.4%	38.9%	36.5%	40%	41.3%	40.2%
Selling, General & Administrative Expenses	442	422	437	436	416	404
Selling, General and Administrative Expenses
Depreciation & Amortization Expenses	109	108	114	115	109	109
Non-Rental Depreciation and Amortization
Other Operating Expenses	—	—	1	—	1	1
Merger Related Costs
Restructuring Charge
Operating Profit	1,114	1,003	804	1,087	1,122	1,004
Operating Income
Operating Margin	26.3%	25.4%	21.6%	26.5%	28.1%	26.6%
Interest Expense	-178	-171	-184	-180	-178	-173
Interest Expense, Net
Non-Operating Income	-1	-7	-68	-2	-5	-4
Other Income, Net
Total Non-Operating Income	-179	-178	-252	-182	-183	-177
Income Before Provision for Income Taxes	937	839	688	909	949	835
Income Before Provision for Income Taxes
Provision for Income Taxes	236	217	170	220	241	199
Provision for Income Taxes
Consolidated Net Income	701	622	518	689	708	636
Net Income
Net Income Attributable to Common Shareholders	701	622	518	689	708	636
Basic EPS	10.9	9.6	7.9	11.3	10.7	9.6
Diluted EPS	10.9	9.6	7.9	10.5	10.7	9.5
Basic Weighted Average Shares Outstanding	64.2	64.9	65.3	65.6	66	66.6
Total Shares Outstanding	63.8	64.5	65	65.3	65.7	66.2
Diluted Weighted Average Shares Outstanding	64.3	64.9	65.4	65.8	66.2	66.7
EBITDA	1,907	1,762	1,555	1,849	1,860	1,721
Effective Tax Rate	25.2%	25.9%	24.7%	24.2%	25.4%	23.8%