United Rentals said it reported Q3 2025 total revenue of $4.229 billion (rental revenue of $3.665 billion), net income of $701 million (margin of 16.6%), and adjusted EBITDA of $1.946 billion (margin of 46.0%).

1. 01

   United Rentals said it reported Q3 2025 total revenue of $4.229 billion (rental revenue of $3.665 billion), net income of $701 million (margin of 16.6%), and adjusted EBITDA of $1.946 billion (margin of 46.0%).

2. 02

   The company said net income for Q3 decreased 1.0% year over year to $701 million, and net income margin fell 110 basis points to 16.6%. It cited a decline in rental gross margin, which reflected inflation and normal cost variability, including in delivery costs, as the main factor behind the drop.

3. 03

   The company outlined total revenue guidance for 2025 of $16.0 billion to $16.2 billion (prior outlook of $15.8 billion to $16.1 billion), and net rental capital expenditures after gross purchases of $4.0 billion to $4.2 billion, after gross purchases of $2.55 billion to $2.75 billion.

4. 04

   The company said it generated net cash provided by operating activities of $3.934 billion and free cash flow of $1.192 billion in 2025 January–September, and returned $1.633 billion to shareholders over the same period ($1.283 billion in share repurchases and $350 million in dividends).

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.