Earnings Call
Apr 22, 2026
Q1 FY2026
EPS Estimate
8.95
EPS Actual
9.71
Post-Earnings Close
$986.78
Earnings Reaction
+22.9%
United Rentals opened 2026 with first-quarter records across every major financial metric, and the results carry enough momentum that management raised full-year guidance on both revenue and EBITDA just three months into the year. Rental revenue climbed 8.7% year-over-year to $3.4 billion, total revenue reached nearly $4 billion, adjusted EBITDA came in at $1.76 billion at a 44.1% margin, 60 basis points better year-over-year excluding the one-time H&E termination benefit recorded in the prior-year period, and adjusted EPS of $9.71 beat the consensus estimate of $8.95 by roughly 8.5%, rising 10% year-over-year. Free cash flow exceeded $1.05 billion in the quarter alone, and the company returned $500 million to shareholders while keeping net leverage at a comfortable 1.9x.
Report generated on Apr 23, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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