United Rentals set Q4 revenue record in 2024

In 2024, United Rentals produced over $15 billion in total revenue, earning $15.345 billion, compared to $14.332 billion in 2023, for a 7.1 percent year-over-year increase, reports the company. Equipment rental revenue for 2024 gained eight percent from 2023, to $13.029 billion compared to $12.064 billion.

The company reported a 29.3 percent increase in the sale of new equipment, from $218 million to $282 million. Contractor supplies sales rose 6.2 percent, from $146 million to $155 million. Service and other revenues increased from $330 million to $358 million, an 8.5 percent rise.

"In 2024, we doubled-down on being the partner of choice for our customers and I am very pleased with our team's success," says Matthew Flannery, chief executive officer of United Rentals. "Their commitment was critical to achieving the growth we delivered across this past year, which culminated in fourth-quarter records across revenue, EBITDA, and earnings. Our unique value proposition, which includes prioritizing safety and productivity for our customers, supports our 2024 results and provides the foundation of our strategy to drive sustainable long-term value for our shareholders."

Highlights of the fourth quarter include a total revenue of $4.095 billion, including rental revenue of $3.422 billion, which is an increase of 9.7 percent year-over-year and a fourth quarter record for the company.

Used equipment sales in the quarter increased 3.2 percent year-over-year, generating $452 million of proceeds compared to $438 million last year. Net income for the quarter increased 1.5 percent year-over-year to $689 million. Adjusted EBITDA for the quarter increased five percent year-over-year to a fourth quarter record of $1.9 billion.