United Rentals reports record first quarter 2026 results, beating estimates and raising its full-year guidance.

United Rentals reported record first quarter revenue of $3.985 billion and adjusted EPS of $9.71, exceeding analyst expectations. The company raised its full-year 2026 guidance for both revenue and adjusted EBITDA, citing strong momentum heading into its busy season.

Key Highlights

• The company raised its full-year 2026 revenue guidance to a range of $16.9 billion to $17.4 billion, up from a prior range of $16.8 billion to $17.3 billion.
• Equipment rental revenue grew 8.7% year-over-year to a record $3.419 billion, driven by a 13.8% increase in the specialty rentals segment.
• Fleet productivity, a key operating metric combining rates and utilization, increased 2.3% year-over-year.
• Adjusted EBITDA margin increased 60 basis points year-over-year to 44.1% when excluding a one-time merger termination benefit from the prior year's quarter.