United Rentals (URI) Q4 2024 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 22, 2026 astatine 10:35 AM CDT 32 min read

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Thursday, Jan. 30, 2025 astatine 8:30 a.m. ET

• Chief enforcement serviceman — Matthew Flannery

• Chief fiscal serviceman — Ted Grace

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Matthew Flannery: Thank you relation and bully greeting everyone. Thanks for joining our call. We are pleased to study our coagulated 4th fourth results yesterday arsenic the twelvemonth culminated with grounds revenue, EBITDA and EPS. We again saw maturation crossed our operation and concern extremity markets arsenic good arsenic continued beardown request for utilized equipment. Our squad doubled down connected being the champion spouse of prime for our customers. Our diligence connected safety, coupled with unmatched service, exertion and operational excellence translated into the results we reported. Importantly, each of this sets the instauration for our aboriginal growth.

Today, I'll sermon our 4th fourth results, followed by our expectations for 2025 and finally, recap wherefore we are excited astir the H&E acquisition we announced a fewer weeks ago. Then Ted volition sermon the financials successful item earlier we unfastened up the telephone for Q&A which we volition support focused connected United Rentals arsenic a stand-alone company. Our program remains to update the concern assemblage connected the combined companies aft the transaction closes which is inactive expected by the extremity of our archetypal quarter. So with that, let's commencement with the 4th fourth results. Our full gross grew 9.8% year-over-year to astir $4.1 billion. And wrong this, rental gross grew by 9.7% to $3.4 billion, some 4th fourth records.

Fleet productivity accrued by 4.3% arsenic reported and 2% ex Yak. Adjusted EBITDA accrued to a 4th fourth grounds of $1.9 billion, translating to a borderline of implicit 46%. And finally, adjusted EPS grew year-over-year to $11.59, different 4th fourth record. Now let's crook to lawsuit activity. We saw maturation successful some our gen rent and specialty businesses. Specialty rental gross impressively grew much than 30% year-over-year and adjacent without Yak, a beardown 18%. These results were driven by rental gross crossed each businesses with a operation of coagulated same-store income maturation and an further 15 cold-starts putting america astatine 72 for the afloat year.

And arsenic a reminder, these specialty cold-starts are a cardinal constituent to accelerating our maturation successful this high-return segment. By vertical, we proceed to spot akin trends to the remainder of past twelvemonth with non-residential maturation helping to substance operation and concern maturation driven by manufacturing and power. And we saw caller projects crossed information centers, spot manufacturing, sports stadiums and powerfulness to sanction a few. Now turning to the utilized marketplace which continues to grounds beardown demand. We sold implicit $850 cardinal of OEC successful the 4th which was a grounds for immoderate 4th successful our history.