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United Rentals reports record first quarter results

By Ashleigh Petersen

April 30, 2023

United Rentals logoUnited Rentals, Stamford, Conn., recently reported $3.29 billion in total revenue during the 2023 first quarter, up from $2.52 billion in the 2022 first quarter. First quarter rental revenue was a record $2.74 billion, a 26 percent increase compared to $2.18 billion during the same time last year.  

Total revenue for 2023 is expected to range from $13.7 billion to $14.2 billion. 

“We’re pleased with the start to 2023, as evidenced by the strength of our first quarter results across growth, profitability and returns. As we enter our busy season, we are encouraged by the momentum we see throughout our business and our customers’ continued optimism. Our team remains focused on leveraging all of our competitive advantages to add value to both our customers and our investors,” said Matthew Flannery, CEO, United Rentals. 

“Our first quarter results position us to reaffirm our full-year guidance, supported by our visibility into our customers’ pipelines. The integrations of our recent acquisitions are on track, adding valuable capacity that will help us support our customers as they execute on a wide range of multi-year opportunities across infrastructure, industrial manufacturing, energy and power. We remain confident in our ability to leverage the growth we see ahead while ensuring we have the flexibility to adapt to all operating environments,” Flannery added.