United Rentals announced its first-quarter 2025 financial results on April 23, 2025, reporting record first-quarter revenue and adjusted EBITDA. Total revenue increased 6.7% year-over-year to $3.72 billion, exceeding market expectations. Equipment rentals revenue also saw a 7.4% increase to $3.15 billion.
The company's non-GAAP profit was $8.86 per share, which was 0.5% above analysts' consensus estimates. Net income for the quarter was $7.91 per share. These results reflect strong demand across both construction and industrial end-markets.
United Rentals reaffirmed its full-year 2025 guidance, projecting total revenue between $15.6 billion and $16.1 billion and adjusted EBITDA between $7.2 billion and $7.45 billion. The company also announced a new $1.5 billion share repurchase program, expected to be completed by the end of Q1 2026, with plans to repurchase $1.5 billion in total during 2025.
The first-quarter results included a net $39 million merger termination benefit, reflecting the $64 million break-up fee received from the terminated H&E acquisition, net of related transaction costs. This benefit contributed a $29 million net after-tax benefit to net income, or $0.45 per diluted share.
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