In This Story
United Rentals Inc. (URI-5.27%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenues of $15.345 billion, an increase from $14.332 billion in the previous year. Equipment rentals, which accounted for 85% of total revenues, increased by 8.0% year-over-year.
Net income for the year was reported at $2.575 billion, up from $2.424 billion in 2023. The company attributed this increase to higher rental revenues and operational efficiencies.
United Rentals completed the acquisition of Yak Access, LLC in March 2024 for $1.158 billion, enhancing its capabilities in the matting industry. The acquisition was funded through the issuance of senior notes and borrowings under its credit facilities.
The company reported a total debt of $13.406 billion as of December 31, 2024, with a significant portion bearing interest at variable rates. United Rentals also issued $1.1 billion in senior notes in March 2024.
United Rentals declared dividends totaling $434 million ($6.52 per share) in 2024, continuing its quarterly dividend program initiated in 2023.
The company identified various risks, including economic conditions, competition, and its significant indebtedness, which could impact future operations and financial performance.
United Rentals is pursuing strategic acquisitions to expand its core equipment rental business, with a pending acquisition of H&E Equipment Services, Inc. expected to close in the first quarter of 2025.
The company operates 1,686 rental locations, primarily in the United States and Canada, and has a smaller presence in Europe, Australia, and New Zealand.
United Rentals has a workforce of approximately 27,900 employees and focuses on safety, employee wellness, and inclusion as part of its human capital management strategy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the United Rentals Inc. annual 10-K report dated January 29, 2025. To report an error, please email earnings@qz.com.