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UNITED RENTALS, INC. 8-K Report, Financial Results (Oct 26, 2022)

Reports
Earnings & Results·Regulation FD·Other Events+1
Filing Date
Filed October 26, 2022
Period End
October 26, 2022
Security
URI
In the record · 2016–202610-K1110-Q328-K170

URI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’17Oct ’17
  2. Material agreement8-K · Nov ’19Nov ’19
  3. Leadership change8-K · Nov ’21Nov ’21
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed October 26, 2022. Cited figures are marked; the original filing is the authoritative source.

United Rentals, Inc. (URI) filed an 8-K on October 26, 2022, primarily to announce its financial results for the quarter ended September 30, 2022, and to disclose other significant corporate actions.

The company reported its operational and financial condition, with details expected to be found in the furnished press release (Exhibit 99.1). Additionally, URI provided an update on its business, financial results, and 2022 outlook, accessible on its website, which includes non-GAAP financial measures like free cash flow, EBITDA, adjusted EBITDA, and adjusted EPS.

A key announcement from this filing is the initiation of a new $1.25 billiona share repurchase program, set to begin in the fourth quarter of 2022 and conclude by the end of 2023. This new program succeeds a previously completed $1.0 billion repurchase program that concluded in the third quarter of 2022, signaling a continued commitment to returning capital to shareholders.

02—Key points

Key Highlights

  1. United Rentals reported its Q3 2022 results of operations and financial condition via a press release filed as Exhibit 99.1.
  2. The company is providing updated information on its business, financial results, and 2022 outlook, available on its website.
  3. Key non-GAAP financial measures discussed include free cash flow, EBITDA, adjusted EBITDA, and adjusted EPS.
  4. A new $1.25 billion share repurchase program has been authorized.
  5. The new share repurchase program is expected to commence in Q4 2022 and conclude by the end of 2023.
  6. The prior $1.0 billion share repurchase program was completed during the third quarter of 2022.
  7. The filing includes reconciliations of non-GAAP measures to their nearest GAAP equivalents, explaining their utility for investors.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K filing?

    The primary purpose of this 8-K filing is to announce United Rentals' financial results for the quarter ended September 30, 2022, and to disclose a new significant share repurchase program.

  2. What is the amount and expected timeline for the new share repurchase program?

    United Rentals announced a new $1.25 billion share repurchase program. This program is expected to commence in the fourth quarter of 2022 and be completed by the end of 2023.

  3. Does the filing provide specific financial figures for Q3 2022?

    While the 8-K states that the company issued a press release reporting its Q3 2022 results, the specific financial figures are detailed within that press release (Exhibit 99.1), which is furnished with this filing. Investors would need to refer to Exhibit 99.1 for detailed financial results.

  4. What non-GAAP financial measures are discussed?

    The filing mentions that the company's investor presentations include non-GAAP financial measures such as free cash flow, EBITDA, adjusted EBITDA, and adjusted earnings per share (adjusted EPS). Reconciliations to GAAP measures are also provided.

04—Continue

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