United Rentals ‘outperforms’ market and expects similar 2026

Specialty rentals again led the way in United Rentals’ final quarter results to 31 December, growing by 9.2% compared to more modest 2.5% growth in its general rentals business.

Revenues overall were up 2.8% to US$4.2 billion in the quarter, with EBITDA profit flat at $1.86 billion, giving an EBITDA margin of 45.2%. Total annual revenues in 2025 were up 5.2% to $16.1 billion.

The company’s outlook for 2026 is revenues of $16.8 to $17.3 billion, representing growth of between 4.3% and 7.4%. It expects to increase its gross spending on fleet from $4.19 billion last year to between $4.3 and $4.7 billion this year.

(Photo: United Rentals)

Matthew Flannery, chief executive officer of United Rentals, said he was very pleased with record revenue and EBITDA in 2025; “In many ways, we expect this year to be similar to 2025, with large projects and dispersed geographic demand driving most of our growth.”

He said United’s “one-stop-shop” general and specialty rental approach, plus its technology, helped improve its customers’ efficiency and productivity; “This ultimately positioned us to outperform the market and generate strong shareholder returns.”

The company said it would return $2 billion to shareholders in 2026, supported by a new $5 billion share repurchase programme.