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# United Rentals Raises 2026 Revenue Forecast To $18.0 Billion-$18.2 Billion After Record Third Quarter
- URL: https://www.bullished.co/united-rentals-raises-2026-revenue-forecast-to-18-0-billion-18-2-billion-after-record-c2e49019/
- Published: 2026-10-21T20:36:39.000Z
- Updated: 2026-10-28T18:58:49.000Z
- Description: Specialty rentals revenue rose 34.7% in the quarter, and adjusted EBITDA guidance moved up to $8.3 billion to $8.4 billion.
- Author: Matteo Parrino
- Tags: Earnings, URI, Industry: Industrials

[United Rentals](https://www.bullished.co/tag/uri/) [raised its 2026 revenue outlook](https://www.sec.gov/Archives/edgar/data/0001067701/000106770126000036/uri-9302026xex991.htm?ref=bullished.co) to $18.0 billion to $18.2 billion, from $17.5 billion to $17.8 billion, in an [8-K](https://www.bullished.co/learn/8-k-items-explained/) filed Wednesday alongside record third-quarter results. Adjusted EBITDA guidance rose to $8.3 billion to $8.4 billion from $7.975 billion to $8.125 billion.

## What the quarter showed

Third-quarter revenue was $4.893 billion, against $4.229 billion a year earlier. Net income was [$920 million](https://www.wusa9.com/article/syndication/associatedpress/united-rentals-q3-earnings-snapshot/616-4af9dcf5-2462-46e3-bbe1-dafcc26f919e?ref=bullished.co), up 31.2% and a third-quarter record, and diluted earnings per share were $14.77 ($15.55 on an adjusted basis), versus $10.91 a year earlier.

Rental revenue rose 17.8% to a quarterly record of $4.316 billion. The company credited a 7.9% increase in average original equipment at cost, a 6.5% gain in fleet productivity and a 4.9% contribution from ancillary and re-rent revenue.

Specialty rentals revenue rose 34.7% to $1.704 billion, with rental gross margin up 250 basis points (2.5 percentage points) to 47.6%. General rentals revenue rose 8.8% to $2.612 billion, with margin up 170 basis points to 38.4%.

Adjusted EBITDA, which adds back items such as restructuring and stock compensation, rose 19.8% to a record $2.331 billion. The margin was 47.6%, up 160 basis points.

## What changes in the outlook

Beyond revenue and adjusted EBITDA, the company raised its operating cash flow range to $6.25 billion to $6.85 billion from $5.85 billion to $6.65 billion. Planned gross rental equipment purchases rose to $5.2 billion to $5.5 billion from $4.85 billion to $5.25 billion. Free cash flow guidance excluding restructuring payments is unchanged at $2.15 billion to $2.45 billion.

CEO Matthew Flannery said the raised guidance "is supported by our customers' confidence, their backlogs, and the momentum we see across large projects."

On capital returns, the company expects to complete $1.5 billion of share repurchases in 2026\. It declared a quarterly dividend of $1.97 per share, payable November 25 to holders of record on November 11\. Net leverage was 1.8x at quarter end, versus 1.9x at December 31, 2025, and liquidity was $2.615 billion.

The stock closed Wednesday at $1068.98, up 2.41%, before the filing was accepted at 4:25 p.m. ET.

## What to watch

United Rentals holds its earnings call Thursday, October 22, at 8:30 a.m. Eastern Time.

Nine-month free cash flow was $1.421 billion, up 19.2% from a year earlier, the company said.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — UNITED RENTALS, INC. (URI)](https://www.sec.gov/Archives/edgar/data/0001067701/000106770126000036/uri-20261021.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit uri-9302026xex991.htm — UNITED RENTALS, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001067701/000106770126000036/uri-9302026xex991.htm?ref=bullished.co) — SEC EDGAR
- [United Rentals: Q3 Earnings Snapshot | wusa9.com](https://www.wusa9.com/article/syndication/associatedpress/united-rentals-q3-earnings-snapshot/616-4af9dcf5-2462-46e3-bbe1-dafcc26f919e?ref=bullished.co) — Associated Press

### More on United Rentals

- [United Rentals CEO Says Running Fleet This Hot 'Isn't The Most Prudent Thing' — And May Ease Off In 2027](https://www.bullished.co/united-rentals-ceo-says-running-fleet-this-hot-isnt-the-most-prudent-thing-and-may-ease-8e141304/)
- [United Rentals Now Says Its Restructuring Will Cost 'Not Exceed $75' Million, After Hitting $65 Million](https://www.bullished.co/united-rentals-now-says-its-restructuring-will-cost-not-exceed-75-million-after-hitting-65-7f24a8c1/)

[All United Rentals (URI) coverage →](https://www.bullished.co/tag/uri/)