United Rentals Q3 revenue beats estimates on rental demand, raises FY outlook
URI•United Rentals’ third-quarter revenue rose 15.7% year over year to $4.89 billion, beating the $4.70 billion estimate, while adjusted EPS of $15.55 topped the $13.92 estimate. The company raised its 2026 revenue and adjusted EBITDA outlook.
1. Quarterly results
United Rentals reported third-quarter revenue of $4.89 billion, up 15.7% year over year and above the $4.70 billion analyst estimate. Adjusted EPS was $15.55, compared with an estimate of $13.92; net income was $920 million.
2. Raised outlook
The company raised its 2026 revenue outlook to $18.0 billion-$18.2 billion from $17.5 billion-$17.8 billion and its adjusted EBITDA outlook to $8.3 billion-$8.4 billion from $7.975 billion-$8.125 billion. It expects net rental capital expenditures of $3.75 billion-$4.05 billion, after gross purchases of $5.2 billion-$5.5 billion.
3. Rental demand
United Rentals said higher rental revenue reflected increased equipment investment, higher fleet productivity, and growth in ancillary and re-rent revenue. It attributed higher margins to efficiencies in depreciation, labor, repairs, and delivery expenses, partly offset by a lower-margin revenue mix, and said its specialty rentals segment had significant revenue and margin gains.
