Summary
United Rentals, Inc. (URI) filed an 8-K on January 11, 2008, primarily to disclose financial guidance for the full year 2007 and preliminary outlook for 2008, as well as to report the termination of significant interest rate swap agreements. The company expects to provide updated financial information through a press release and a presentation accessible on their website. Investors should note that the company is providing guidance on non-GAAP measures like free cash flow and EBITDA, which offer insights into operational performance and cash availability, though they are not replacements for GAAP metrics.
Key Highlights
- 1URI issued preliminary financial guidance for full-year 2007 earnings and a 2008 outlook, detailed in a press release furnished as an exhibit.
- 2The company is utilizing non-GAAP financial measures, including Free Cash Flow and EBITDA, in its investor communications, with reconciliations provided.
- 3United Rentals terminated interest rate swap agreements covering $1.2 billion of its subsidiary URNA's fixed-rate debt, converting it to floating rate instruments.
- 4The terminated swap agreements applied to specific tranches of Senior Notes and Senior Subordinated Notes with fixed interest rates ranging from 6.5% to 7.75%.
- 5A total cost of $3,860,000, including accrued interest, was paid in connection with the termination of these interest rate swaps.
- 6Investor presentations, accessible on the company website, will include financial information and analysis, with the presentation maintained online for a specified period.