United Rentals’ Q1 Revenue Rises 7% to $4B as EPS Hits $9.71
United Rentals reported record Q1 revenue of $4.0 billion, up 7% year-over-year, and adjusted EPS of $9.71. Morgan Stanley boosted its price target to $1,030, implying 5.4% upside, after core rental revenue rose 9% to $3.4 billion and the specialty segment expanded 14% with 17 new locations.
1. Record First-Quarter Financial Results
United Rentals delivered record Q1 results with total revenue up 7% year-over-year to $4.0 billion and adjusted EPS of $9.71, reflecting strong demand across its rental offerings.
2. Segment Performance
Core rental revenue rose 9% to $3.4 billion driven by large project bookings, while the specialty segment expanded 14% with the addition of 17 new locations.
3. Price Target Increase
A price target increase to $1,030 was announced, representing a 5.4% upside from the prior trading level, underscoring analyst confidence in continued growth.
4. Market Reaction and Restructuring Charges
Shares jumped significantly after the earnings release, and the company reported $45 million in restructuring charges related to facility consolidation and workforce reductions.