United Rentals Inc: The REAL Pressure Point Is Rising Delivery And Insurance Costs!

The United Rentals, Inc. reported record revenues and EBITDA for the full year 2025, supported primarily by growth in rental revenues which increased 4.6% year-over-year, reaching $3.6 billion in the fourth quarter. Total revenue grew by 2.8% year-over-year to $4.2 billion in the quarter. Fleet productivity improved slightly by 0.5%, contributing to overall equipment rentals (OER) growth of 3.5%. Adjusted EBITDA for the quarter was $1.9 billion, representing a 45.2% margin, while adjusted earnings per share were $11.09. The company’s specialty segment demonstrated healthy and broad-based expansion, with 60 new cold-start locations opened in 2025, enhancing geographic reach and product offerings. This continued focus supports management’s expectation for double-digit growth in the specialty business going forward. The industrial and construction end markets remained largely favorable, with strong activity in infrastructure, nonresidential construction, power, data centers, healthcare, and pharmaceuticals.