01—Abstract
Summary
Summary of the 8-K filed April 19, 2017. Cited figures are marked; the original filing is the authoritative source.
United Rentals, Inc. (URI) filed an 8-K on April 19, 2017, to report its first-quarter 2017 financial results via a press release filed as an exhibit.
The filing also disclosed that the company is making investor presentation materials, including its 2017 outlook, available on its website. These materials utilize certain non-GAAP financial measures, such as free cash flow, EBITDA, adjusted EBITDA, and adjusted EPS, which the company believes offer valuable insights into its operational performance and cash generation capabilities. Reconciliations to GAAP measures are provided within the presentation.
02—Key points
Key Highlights
- URI reported its Q1 2017 results on April 19, 2017.
- The company is providing updated investor presentation materials, including its 2017 outlook, on its website.
- These presentations use non-GAAP financial measures: free cash flow, EBITDA, adjusted EBITDA, and adjusted EPS.
- URI believes these non-GAAP measures offer a better understanding of operational performance and cash earnings.
- Reconciliations of non-GAAP measures to GAAP are included in the investor presentations.
- The filing specifically details the calculation and rationale for using free cash flow, EBITDA, adjusted EBITDA, and adjusted EPS.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to formally report United Rentals' financial results for the quarter ended March 31, 2017, through an attached press release. It also serves to inform investors that updated investor presentation materials, including the company's 2017 outlook, are available on their website.
What non-GAAP financial measures does United Rentals use, and why?
United Rentals uses free cash flow, EBITDA, adjusted EBITDA, and adjusted EPS. The company believes these measures provide useful additional information about its operating performance, cash generation, and profitability trends, helping investors understand the underlying business performance and cash available for debt service and capital investments.
Are the non-GAAP financial measures presented in the investor materials considered equivalent to GAAP measures?
No, United Rentals explicitly states that while they believe these non-GAAP measures provide useful insights, they should not be considered as alternatives to GAAP measures like net income or earnings per share as indicators of operating performance or liquidity.
Where can investors find more detailed financial information beyond this 8-K?
Investors can find more detailed information, including the Q1 2017 earnings press release and updated investor presentation materials with the 2017 outlook, on United Rentals' website at www.unitedrentals.com.
04—Continue