United Rentals (URI) Q3 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

United Rentals posted a mixed third quarter, delivering a top-line beat while falling short on earnings, as margin pressures weighed on the bottom line. Revenue climbed 5.9% year over year to $4.23 billion, edging past the $4.16 billion consensus by … Read more United Rentals posted a mixed third quarter, delivering a top-line beat while falling short on earnings, as margin pressures weighed on the bottom line. Revenue climbed 5.9% year over year to $4.23 billion, edging past the $4.16 billion consensus by 1.69%, but adjusted EPS of $11.70 missed the $12.29 estimate by 4.79%, dragged lower by inflation impacts, delivery cost variability, and elevated depreciation in the specialty rentals segment following matting business expansion. Adjusted EBITDA grew to $1.95 billion, though margin contracted 170 basis points to 46.0%, reflecting the same cost pressures squeezing profitability across the business. Specialty rentals remained the standout growth engine, with rental revenue rising 11.4% to $1.26 billion, even as segment margins compressed sharply. Looking ahead, management raised its 2025 revenue outlook to $16.00 billion to $16.20 billion, citing strong customer demand across construction and industrial markets, while lifting gross rental capital spending guidance to $4.00 billion to $4.20 billion, a move that simultaneously trimmed free cash flow expectations to $2.10 billion to $2.30 billion.