$URI · UNITED RENTALS, INC.
United Rentals filed an 8-K on October 21, 2026, reporting Q3 2026 results and raising full-year 2026 guidance. Total revenue reached $4.893B with rental revenue of $4.316B (up 17.8% YoY). Net income was $920M ($14.77 diluted EPS), and adjusted EBITDA hit a record $2.331B at a 47.6% margin. The company raised its full-year revenue outlook to $18.0B–$18.2B and adjusted EBITDA to $8.3B–$8.4B.
- Q3 total revenue hit $4.893B, with rental revenue of $4.316B up 17.8% YoY.
- Net income surged 31.2% YoY to $920M; GAAP diluted EPS of $14.77 vs. $10.91 a year ago.
- Adjusted EBITDA reached a quarterly record $2.331B at a 47.6% margin, up 160 bps YoY.
- Full-year 2026 revenue guidance raised to $18.0B–$18.2B from $17.5B–$17.8B.
- Full-year adjusted EBITDA guidance raised to $8.3B–$8.4B from $7.975B–$8.125B.
Extended-hours trading shows URI at $1,084.89, up 1.49% from the regular close of $1,068.98, reflecting positive initial reaction to the record quarter and raised guidance.
The largest equipment rental company globally delivered broad-based beats, raised guidance on both top and bottom lines, and demonstrated accelerating specialty segment momentum — reinforcing its "one
URI's 17.8% rental revenue growth and 6.5% fleet productivity gain signal robust non-residential construction and industrial demand, outpacing broader equipment rental peers. The specialty segment's 34.7% rental revenue surge underscores the one-stop-shop strategy gaining share.
The raised capex guidance (gross purchases of $5.2B–$5.5B, up from $4.85B–$5.25B) increases capital intensity; a demand slowdown could pressure fleet utilization and returns. Revenue mix shift toward lower-margin ancillary and re-rent revenue partially offset rental gross margin gains.
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