Filing Flows › United Rentals (URI) › Q3 2025
United Rentals (URI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 22, 2025
United Rentals (URI) reported revenue of $4.2B for the third quarter 2025 (Q3 2025), +6% from a year earlier and +7% from the quarter before. Operating margin was 26.3%, net earnings $701M (16.6% of revenue).
United Rentals, Q3 2025: revenue $4.2B (+6% year over year), operating margin 26.3%, net earnings $701M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.2B | +7% | +6% |
| Gross profit | $1.7B | +9% | +1% |
| Operating profit | $1.1B | +11% | -0.7% |
| Net earnings | $701M | +13% | -1% |
| Operating cash flow | $1.2B | -11% | -2% |
What changed
Revenue was $4.2B in Q3 2025, up 6% year over year and up 7% from the previous quarter. Owned equipment rentals was the largest line at 69% of revenue. Owned equipment rentals added $0.13B year over year (up 5%), 56% of the total change.
Gross margin was 39.4%, down 1.9 points from a year earlier. Operating profit was $1.1B, a 26.3% margin (down 1.8 points year over year). Operating profit fell $0.01B even though revenue rose $0.24B versus a year earlier, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 6%. Net earnings were $0.70B, down 1% year over year. The effective tax rate was 25.2%.
Operating cash flow was $1.2B (down 2% year over year), 168% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.34B. Capital expenditures of $1.6B exceeded it, leaving free cash flow of −$0.40B.
Questions
What was United Rentals' revenue in the third quarter 2025?
United Rentals (URI) reported revenue of $4.2B for the third quarter 2025 (Q3 2025), +6% from a year earlier and +7% from the quarter before.
Was United Rentals profitable in the third quarter 2025?
Operating profit was $1.1B (26.3% of revenue) and net earnings $701M.
Source: United Rentals 10-Q on SEC EDGAR.