24.07.2026

New records for United

US based United Rentals has reported strong growth in first half revenues and profits, once again breaching its previous records.

Total revenues for the six months to the end of June were $8.4 billion, 7.5 percent higher than at the same point last year. A new record.
Four of the five areas of the business – Rental, New equipment sales, Contractors supplies and service were higher than last year, while sales of equipment from the rental fleet were slightly lower. However, most of the revenue gain came from rental, which grew almost 11 percent to $7.3 billion.

Pre-tax profit came in almost 12 percent higher than last year at $1.7 billion, while last it was marginally lower than in 2024.

Capital expenditure in the first half was $2.93 billion, 29 percent higher than at the same time last year.
Second quarter revenues improved 11.9 percent, to $4.4 billion, driven by 12.5 percent increase in rental revenues. Pre-tax profit was just over $1 billion, 20 percent higher than the same quarter last year.

Full year outlookThe company is now forecasting total revenues of $17.5 to $17.8 billion, which represents an increase of nine to 10.6 percent over 2025. It has also raised its full year capital expenditure forecast to $4.85 to $5.25 billion.

Chief executive Matt Flannery said: “As evidenced in our record second quarter results, 2026 is on track to be a great year for United Rentals. Our growth accelerated in the quarter, customers remain optimistic, particularly around large projects, and we continue to demonstrate strong cost discipline. Our one stop shop value proposition, coupled with our technology, service levels, and unwavering focus on safety and customer productivity, continues to differentiate us in the industry.”

“Looking ahead, I am very pleased that we are again raising our guidance for the year, supported by the tailwinds we see across large projects, customer backlogs, and the momentum witnessed year to date. We believe the healthy growth we’ve seen will continue and that we will deliver what our shareholders expect of us: profitable growth, strong free cash flow and compelling returns.”

Vertikal Comment

This is an incredible first half result, and it never ceases to amaze us how such a large company can maintain such growth levels in terms of sales and profit. Companies of this size, all too often, become unwieldy and overly centralised and corporate.
Or they get pushed by analysts and minor, but hostile ‘activist’ shareholders out to make a quick buck without giving any consideration whatsoever to the long term viability of the business, or the other ‘stakeholders’.

It speaks volumes for the senior management team and, in particular, the leadership of Matt Flannery, who joined the company in 1998 as a branch manager, took over as chief operating officer in 2012, became president in 2018, and was appointed (chief executive in 2019).

Hopefully these numbers are an indication of what we can expect from Sunbelt and Herc Rentals, to name but two of the big North American rental companies.

It is nice to see such positive numbers.