United Rentals(URI)

Leader

Stamford CT world's largest equipment rental (NYSE: URI) at $15.3B 2024 record revenue with 1,625 locations and $20.6B fleet OEC; Q4 2024 record +10% dividend increase competing with Sunbelt for construction/industrial rental market.

Company Overview

About United Rentals

United Rentals is a Stamford, Connecticut-based equipment rental company — publicly traded on the New York Stock Exchange (NYSE: URI) as an S&P 500 component — operating as the world's largest equipment rental company with approximately 16% of the North American market, a fleet of 4,800+ classes of equipment valued at $20.59 billion in original equipment cost, and 1,625 locations across North America, Europe, Australia, and New Zealand. In fiscal 2024, United Rentals generated $15.3 billion in revenue (record) with 22,397 employees, and Q4 2024 revenue of $4.095 billion (record), with the Board approving a 10% quarterly dividend increase. The specialty rental segment (trench safety, power & HVAC, pump solutions) generates $4+ billion annually as the fastest-growing segment. CEO Matthew Flannery has led the company since 2019. United Rentals was founded in 1997 by Brad Jacobs through an acquisition-led consolidation strategy, completing ~275 acquisitions including RSC Holdings ($4.2B, 2012), BlueLine Rental ($2.1B, 2018), and Ahern Rentals ($2.0B, 2022).

Business Model & Competitive Advantage

United Rentals' equipment rental model addresses the capital efficiency problem for construction, industrial, and infrastructure companies that need heavy equipment intermittently: a construction firm building a $50 million commercial development needs aerial work platforms, excavators, compressors, and generators for 12 months — but purchasing this equipment requires $2-5 million in capital that is idle between projects, requires maintenance staff, and faces depreciation. Renting from United Rentals (same-day equipment delivery to jobsite from the nearest of 1,625 locations, maintenance included, equipment returned when the project phase ends) converts capital expenditure to variable operating expense that scales with project activity. The specialty rental segment (trench shoring for underground utilities, temporary power generation for planned outages and events, pump solutions for water management) addresses the high-value niche applications where equipment availability, regulatory compliance knowledge, and turnkey installation service command premium rates over commodity equipment rental.

Competitive Landscape 2025–2026

In 2025, United Rentals competes in the equipment rental, construction equipment, and specialty rental market with Sunbelt Rentals (private, Ashtead Group NYSE: AHT, $6B+ revenue), H&E Equipment Services (NASDAQ: HEES, $1.4B revenue), and BlueLine Rental (now URI division) for construction, industrial, and infrastructure project equipment rental contracts and national account relationships. The $15.3 billion record revenue reflects the multi-year construction supercycle driven by infrastructure bill spending (IIJA, IRA manufacturing incentives, CHIPS Act semiconductor fab construction) that continues to drive equipment demand. The 35% emissions intensity reduction target (2030) and 20% electric/hybrid fleet progress position URI for the construction industry's electrification transition. The 2025 strategy focuses on growing specialty rental as a percentage of total revenue (where margins are 10-15 points higher than general rental), expanding digital fleet management tools for national account customers, and pursuing selective acquisitions in specialty rental categories.

Founded
1997
Headquarters
Greenwich, Connecticut
Revenue
$15300M
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The United Rentals Story

Founded in 1997
Greenwich, Connecticut
Founded by Bradley Jacobs

Founders

Bradley Jacobs
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Company Timeline

Major milestones in United Rentals's journey

14
Total Events
0
Funding Rounds
9
Acquisitions
0
Product Launches
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Leadership Team

Meet the leaders behind United Rentals

Matthew J. Flannery

President and CEO

Matthew Flannery was appointed CEO in May 2019 and has served as President since March 2018. He has over three decades of experience in the rental industry, including numerous senior management positions at United Rentals. Under his leadership, the company has focused on sustainability, operational excellence, and specialty rental growth.

William 'Ted' Grace

Executive Vice President and CFO

Ted Grace was appointed EVP and CFO in November 2022 after serving as Interim CFO since July 2022. He oversees accounting, treasury, risk management, and financial planning and analysis departments.

Craig A. Pintoff

Executive Vice President and Chief Administrative Officer

Craig Pintoff was promoted to EVP and CAO in March 2017 with responsibility for Human Resources, Safety, Information Technology, and Legal functions across United Rentals' global operations.

Michael Durand

Executive Vice President and COO

Michael Durand was promoted to EVP and COO in September 2023 after serving as SVP of Sales and Operations since 2020. He oversees the company's global operational execution and strategy.

Ms. Gross

Senior Vice President, Chief Legal & Sustainability Officer

Ms. Gross serves as SVP, Chief Legal & Sustainability Officer, and Corporate Secretary, a title she has held since January 2024. She leads legal affairs and the company's sustainability initiatives including emissions reduction and fleet electrification.

Open Positions

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Key Differentiators

Market Leader

United Rentals is recognized as a market leader in the Infrastructure sector, demonstrating strong industry presence and customer trust.

Enterprise Scale

With $15300M in revenue, United Rentals operates at enterprise scale with proven market validation.

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