Analyst Consensus ?
ConsensusBuy40 ratings
Bullish2767.5%
Neutral820.0%
Bearish512.5%
United Rentals, Inc. · URI · FY2025 Q4 · Calendar Q1 2026
United Rentals sees specialty-led growth, but margins remain the test
The evidence supports a constructive operating trajectory, led by specialty equipment, infrastructure and power demand, but it does not remove the key qualification: growth must translate into stable margins as delivery, repositioning, ancillary-service and used-equipment pressures are managed.
Reported After market closeNYSEIndustrials
$64.98B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$11.09
Consensus $11.79
EPS surprise
-5.9%
Reported versus consensus
Reported revenue
$4.21B
Consensus $4.24B
Revenue surprise
-0.8%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-12.9%
Event window
SPY move
-0.2%
Same window
Abnormal move
-12.7%
Stock minus SPY
Volume
4.9×
Versus trailing sessions
Subsequent drift
+6.7%
Up to 20 sessions
URISPY benchmark
Ask FN2 about URI FY2025 Q4
Transcript, numbers and history already loaded
Why did URI fall 12.9% after missing EPS estimates in FY2025 Q4?What changed in URI's guidance and outlook in FY2025 Q4?Give me the bull and bear case for URI after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The latest analysis shifts the emphasis from broad demand strength and raised investment plans toward execution: management still expects specialty-led growth and flat 2026 margins at the midpoint, but the quarter was below consensus and cost control, used-equipment volumes and project timing are more prominent risks.
Guidance delta
Management's 2026 outlook calls for more than 6% revenue growth excluding used assets and flat margins at the midpoint, alongside increasing capital investment.
Key takeaways
- Management described 2025 as a record year for revenue and adjusted EBITDA, with a 45.2% adjusted EBITDA margin.
- Large infrastructure, power and data-center projects, specialty expansion and cold-start locations remain the main growth drivers.
- The 2026 plan combines growth investment with a 10% dividend increase and a planned $1.5 billion share repurchase.
- The quarter's EPS and revenue were below consensus, while the market reaction was sharply negative relative to the benchmark.
- Delivery, repositioning and ancillary-service costs are the main execution risks to the growth outlook.
Management priorities
- Expand specialty offerings through cold-start locations and selective acquisitions.
- Improve fleet efficiency and invest in technology and cybersecurity.
- Control repositioning, delivery and ancillary-service costs.
- Continue geographic expansion and capital returns.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$1,043.92Previous close
$269Low
$984.22Average
$1,421High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 24, 2026 |
| JP Morgan | Neutral | Overweight | Downgrade | Sep 10, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 11, 2026 |
| Argus Research | Buy | Buy | Maintain | Aug 4, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 24, 2026 |
| UBS | Buy | Buy | Maintain | Jul 24, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 24, 2026 |
| Barclays | Underweight | Underweight | Maintain | Jul 24, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 23, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 17, 2026 |
| BNP Paribas | Outperform | Neutral | Upgrade | Jun 29, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Jun 25, 2026 |
| Baird | Outperform | Outperform | Maintain | Apr 24, 2026 |
| Bernstein | Outperform | Market Perform | Upgrade | Sep 23, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | May 27, 2025 |
| Oppenheimer | Perform | Perform | Maintain | Apr 29, 2024 |
| Stifel | Buy | Buy | Maintain | Apr 26, 2024 |
| Exane BNP Paribas | Underperform | Outperform | Downgrade | Jan 5, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Jun 2, 2023 |
| OTR Global | Mixed | Positive | Downgrade | Apr 19, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 12, 2023 |
| Vertical Research | Buy | Buy | Maintain | Jan 20, 2021 |
| CFRA | Buy | Buy | Maintain | Apr 30, 2020 |
| Jefferies | Hold | Buy | Downgrade | Apr 3, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Nov 11, 2019 |
| Buckingham | Buy | Buy | Maintain | Nov 11, 2019 |
| Citi | Buy | Buy | Maintain | Sep 11, 2019 |
| Standpoint Research | Buy | Buy | Maintain | Oct 23, 2018 |
| Argus | Buy | Hold | Upgrade | Oct 22, 2018 |
| Macquarie | Underperform | Underperform | Maintain | Oct 19, 2018 |
| Bank of America | Buy | Buy | Maintain | Sep 13, 2018 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 26, 2018 |
| Avondale Partners | Outperform | Market Perform | Upgrade | Jan 26, 2017 |
| Susquehanna | Neutral | Positive | Downgrade | Jan 29, 2016 |
| Longbow Research | Neutral | Buy | Downgrade | Jan 29, 2016 |
| Axiom Capital | Sell | Sell | Maintain | Aug 21, 2015 |
| Wolfe Research | Underperform | Underperform | Maintain | Jul 20, 2015 |
| Northcoast Research | Neutral | Buy | Downgrade | Jun 16, 2014 |
| ISI Group | Buy | Strong Buy | Downgrade | Nov 7, 2013 |
Named analyst price targets
Upside is calculated against the persisted previous close $1,043.92. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $1,170 | $1,028.77 | +12.1% | Sep 10, 2026 |
| Argus Research | Kristina Ruggeri | $1,250 | $1,142.14 | +19.7% | Aug 4, 2026 |
| Morgan Stanley | Analyst unavailable | $1,335 | $1,137.96 | +27.9% | Jul 24, 2026 |
| KeyBanc | Analyst unavailable | $1,350 | $1,139.71 | +29.3% | Jul 24, 2026 |
| Robert W. Baird | Analyst unavailable | $1,300 | $1,139.71 | +24.5% | Jul 24, 2026 |
| Wells Fargo | Analyst unavailable | $1,355 | $1,139.71 | +29.8% | Jul 24, 2026 |
| Barclays | Analyst unavailable | $950 | $1,139.71 | -9.0% | Jul 24, 2026 |
| UBS | Steven Fisher | $1,350 | $1,156.78 | +29.3% | Jul 23, 2026 |
| Truist Financial | Jamie Cook | $1,421 | $1,111.76 | +36.1% | Jul 2, 2026 |
| UBS | Analyst unavailable | $1,300 | $1,130.8 | +24.5% | Jul 1, 2026 |
| BNP Paribas | Analyst unavailable | $1,320 | $1,121.66 | +26.4% | Jun 29, 2026 |
| KeyBanc | Analyst unavailable | $1,250 | $1,083.72 | +19.7% | Jun 25, 2026 |
| Raymond James | Tim Thein | $1,275 | $1,094.17 | +22.1% | Jun 10, 2026 |
| UBS | Analyst unavailable | $1,145 | $1,010.42 | +9.7% | Jun 3, 2026 |
| Evercore ISI | David Raso | $1,101 | $935.05 | +5.5% | May 11, 2026 |
| Barclays | Analyst unavailable | $715 | $974.41 | -31.5% | Apr 24, 2026 |
| Truist Financial | Analyst unavailable | $1,209 | $967.39 | +15.8% | Apr 24, 2026 |
| Morgan Stanley | Analyst unavailable | $1,030 | $977.07 | -1.3% | Apr 24, 2026 |
| RBC Capital | Analyst unavailable | $1,119 | $986.78 | +7.2% | Apr 24, 2026 |
| KeyBanc | Analyst unavailable | $1,150 | $986.78 | +10.2% | Apr 24, 2026 |
| Robert W. Baird | Analyst unavailable | $1,100 | $986.78 | +5.4% | Apr 24, 2026 |
| Bernstein | Chad Dillard | $903 | $767.36 | -13.5% | Apr 9, 2026 |
| Truist Financial | Analyst unavailable | $972 | $779.29 | -6.9% | Jan 30, 2026 |
| KeyBanc | Analyst unavailable | $950 | $787.04 | -9.0% | Jan 30, 2026 |
| Robert W. Baird | Mircea Dobre | $970 | $787.04 | -7.1% | Jan 30, 2026 |
| Bernstein | Analyst unavailable | $965 | $787.04 | -7.6% | Jan 30, 2026 |
| RBC Capital | Sabahat Khan | $1,041 | $787.04 | -0.3% | Jan 30, 2026 |
| Wells Fargo | Jerry Revich | $1,071 | $956.01 | +2.6% | Jan 23, 2026 |
| Truist Financial | Analyst unavailable | $1,045 | $812.51 | +0.1% | Dec 18, 2025 |
| KeyBanc | Analyst unavailable | $1,000 | $800.83 | -4.2% | Dec 3, 2025 |
| Wells Fargo | Jerry Revich | $995 | $843.26 | -4.7% | Nov 13, 2025 |
| UBS | Steven Fisher | $1,025 | $883.15 | -1.8% | Oct 28, 2025 |
| Truist Financial | Analyst unavailable | $1,169 | $921.12 | +12.0% | Oct 24, 2025 |
| RBC Capital | Sabahat Khan | $1,123 | $914.3 | +7.6% | Oct 24, 2025 |
| Barclays | Analyst unavailable | $600 | $980.37 | -42.5% | Oct 20, 2025 |
| Truist Financial | Analyst unavailable | $1,194 | $988.59 | +14.4% | Oct 8, 2025 |
| Robert W. Baird | Analyst unavailable | $1,050 | $954.66 | +0.6% | Oct 1, 2025 |
| KeyBanc | Analyst unavailable | $1,120 | $931.25 | +7.3% | Sep 25, 2025 |
| Bernstein | Chad Dillard | $1,128 | $943.42 | +8.1% | Sep 23, 2025 |
| BNP Paribas | Thomas Burlton | $900 | $946.43 | -13.8% | Sep 16, 2025 |
| KeyBanc | Analyst unavailable | $1,075 | $955.24 | +3.0% | Aug 29, 2025 |
| Argus Research | Kristina Ruggeri | $935 | $908.14 | -10.4% | Aug 12, 2025 |
| Truist Financial | Analyst unavailable | $786 | $633.6 | -24.7% | Apr 25, 2025 |
| Bernstein | Analyst unavailable | $666 | $653.39 | -36.2% | Mar 25, 2025 |
| Truist Financial | Jamie Cook | $965 | $796.02 | -7.6% | Dec 19, 2024 |
| Citigroup | Kyle Menges | $860 | $744.21 | -17.6% | Jul 29, 2024 |
| Truist Financial | Jamie Cook | $793 | $668.43 | -24.0% | Mar 13, 2024 |
| Wells Fargo | Analyst unavailable | $440 | $373.85 | -57.9% | Jan 10, 2023 |
| Morgan Stanley | Analyst unavailable | $404 | $368.44 | -61.3% | Dec 14, 2022 |
| UBS | Analyst unavailable | $420 | $346.9 | -59.8% | Nov 16, 2022 |
| Robert W. Baird | Mircea Dobre | $318 | $298.57 | -69.5% | Oct 27, 2022 |
| KeyBanc | Ken Newman | $425 | $307.8 | -59.3% | Aug 22, 2022 |
| Bernstein | Sam Boughedda | $269 | $320.45 | -74.2% | Aug 18, 2022 |
| Deutsche Bank | Nicole Deblase | $385 | $322.21 | -63.1% | Jan 10, 2022 |
| Morgan Stanley | Courtney Yakavonis | $395 | $356.53 | -62.2% | Dec 9, 2021 |
| Citigroup | Timothy Thein | $445 | $381.67 | -57.4% | Nov 16, 2021 |
| Bank of America Securities | Ross Gilardi | $440 | $353.05 | -57.9% | Oct 5, 2021 |
Track every rating change on URI the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationUnited Rentals, Inc., founded in 1997 and headquartered in Stamford, Connecticut, functions as a prominent equipment rental firm through its various subsidiaries. The company's operations are divided into two main divisions: General Rentals and Specialty. The General Rentals segment offers a broad selection of construction and industrial machinery, including heavy equipment like backhoes, skid-steer loaders, earthmoving machinery, and forklifts, alongside aerial work platforms such as boom and scissor lifts. This division also provides general tools and lighter equipment, ranging from pressure washers to power tools. Its client base is diverse, encompassing construction and industrial enterprises, manufacturers, utility companies, municipalities, government bodies, and individual homeowners. Conversely, the Specialty segment focuses on more specialized construction products.…
Historical context
All URI earningsIndustrials peers this season
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|---|---|---|---|---|
| CTAS Cintas Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | -3.4% | Cintas raises FY2027 guidance as Q1 growth broadens |
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| FPS Forgent Power Solutions, Inc. | FY2026 Q4 · Calendar Q3 2026 | +4.3% | +9.5% | Forgent Power Solutions pairs record results with an aggressive FY27 buildout |
| CPRT Copart, Inc. | FY2026 Q4 · Calendar Q3 2026 | -8.7% | -2.6% | Copart pairs international growth with ACV investment amid higher costs |
| SUNB Sunbelt Rentals Holdings Inc | FY2027 Q1 · Calendar Q3 2026 | +19.2% | +5.9% | Sunbelt raises FY27 outlook as specialty rental demand accelerates |
| FRO Frontline Plc | FY2026 Q2 · Calendar Q3 2026 | +8.0% | +1.0% | Frontline posts a record quarter as tanker rates remain elevated |
Latest beats and misses
Who reports nextBeat on EPS
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
Get the URI recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-29T07:01:00.027927+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T07:01:00.023506+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-29. For educational purposes only; not investment advice.