United Rentals (URI) reported Q4 EPS of $9.74, $0.36 worse than the analyst estimate of $10.10. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.29 billion.
GUIDANCE:
United Rentals sees FY2023 revenue of $13.7-14.2 billion, versus the consensus of $13.46 billion.
2023 Outlook
The company provided the following outlook for 2023.
| 2023 Outlook |
| 2022 Actual | |
Total revenue | $13.7 billion to $14.2 billion |
| $11.642 billion | |
Adjusted EBITDA7 | $6.6 billion to $6.85 billion |
| $5.618 billion | |
Net rental capital expenditures after gross purchases | $2.0 billion to $2.25 billion, after gross |
| $2.471 billion net, $3.436 billion gross | |
Net cash provided by operating activities | $4.4 billion to $4.8 billion |
| $4.433 billion | |
Free cash flow (excluding merger and restructuring related payments, which were $4 million in 2022) | $2.1 billion to $2.35 billion |
| $1.768 billion |