Filing Flows › United Rentals (URI) › Q4 2024
United Rentals (URI) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Jan 29, 2025
United Rentals (URI) reported revenue of $4.1B for the fourth quarter 2024 (Q4 2024), +10% from a year earlier and +3% from the quarter before. Operating margin was 26.5%, net earnings $689M (16.8% of revenue).
United Rentals, Q4 2024: revenue $4.1B (+10% year over year), operating margin 26.5%, net earnings $689M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.1B | +3% | +10% |
| Gross profit | $1.6B | -0.6% | +5% |
| Operating profit | $1.1B | -3% | +2% |
| Net earnings | $689M | -3% | +1% |
| Operating cash flow | $1.0B | -13% | -26% |
| Free cash flow | $847M | — | -26% |
What changed
Revenue was $4.1B in Q4 2024, up 10% year over year and up 3% from the previous quarter. Owned equipment rentals was the largest line at 67% of revenue.
Gross margin was 40.0%, down 1.9 points from a year earlier. Operating profit was $1.1B, a 26.5% margin (down 2.0 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, below the 29% margin then. Operating expenses grew 10% against revenue growth of 10%. The fastest-growing cost line was SG&A (+11%). Net earnings were $0.69B, up 1% year over year. The effective tax rate was 24.2%.
Operating cash flow was $1.0B (down 26% year over year), 152% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.21B. After payments for purchases of rental equipment, net ($0.09B) and payments for purchases of non-rental equipment and intangible assets ($0.11B), free cash flow as the company reports it was $0.85B.
Questions
What was United Rentals' revenue in the fourth quarter 2024?
United Rentals (URI) reported revenue of $4.1B for the fourth quarter 2024 (Q4 2024), +10% from a year earlier and +3% from the quarter before.
Was United Rentals profitable in the fourth quarter 2024?
Operating profit was $1.1B (26.5% of revenue) and net earnings $689M.
Source: United Rentals 10-K on SEC EDGAR.