United Rentals, Inc.

Company facts

Industry

Services-Equipment Rental & Leasing, NEC

Headquarters

Stamford, Connecticut

Most recent report

8-K, filed Oct 29, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1067701

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 5 of 11 sections worth reading, with 1 positive, 14 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Balance sheet, cash flow, segment data, debt details, and restructuring program all carry company-specific numbers.
  Notable

  • Dividends declared rose to $1.97 per share in Q3 2026 from $1.79 in Q3 2025.
  • Deferred revenue increased to $243M at September 30, 2026 from $175M at year-end 2025.
  • No customer exceeded 1% of total revenues for nine months ended September 30, 2026.
  • Largest receivable balance was about 2% of total receivables at September 30, 2026.
  • Break-up fee of $64M received in 2025 after terminated H&E merger agreement.
  • Restructuring liability for closed programs was $11M at September 30, 2026.
  • 2026 Cost Savings Restructuring Program expected total costs not to exceed $75M.

• Management's Discussion (Item 2)

  MD&A reveals strong rental growth, margin expansion, $5B buyback, and credit upgrade.
  Positive

  • Standard & Poor’s upgraded credit rating to BBB-/stable, Moody's outlook positive.
  Notable

  • New $5.0B share repurchase program authorized in Jan 2026; $775M repurchased through Sep 2026.
  • Gain of $53 on sale of scaffolding business in 9M 2026 distorts comparability; after-tax benefit $39.
  • Specialty segment equipment rentals surged 34.7% in Q3 2026 vs 8.8% for general rentals, reflecting strong demand.

• Market Risk (Item 3)

  Quantified interest rate risk: $34M earnings hit per 1% rate rise on $4.5B variable debt.
  Notable

  • $10.2B fixed-rate debt; a 1% market rate drop would increase its fair value by ~3%, Q3 2026.
  • Foreign ops: $1.150B revenue (9% of total) and $145M pretax income (5% of total), 9 months ended Sep 30, 2026.
  Negative

  • $4.5B variable-rate debt exposes earnings to rising rates: $34M annual after-tax hit per 1% increase, Q3 2026.

• Controls and Procedures (Item 4)

  New GL system implementation is a material change to internal controls.
  Notable

  • New GL system implemented in Q3 2026; controls were modified and new ones added to maintain proper internal control.

• Unregistered Sales and Repurchases (Item 2)

  Buyback pace and remaining authorization are material to capital allocation.
  Notable

  • Excise tax on net repurchases totaled $10M year-to-date through Sep 30, 2026, not included in program sizes.

What changed: Sep 2026 vs. Jun 2026

About 2% of URI's Sep 2026 10-Q is new information. 6 paragraphs were added, 124 changed, and 24 removed. Below are the most important lines SECSift identified.

• Item 2 62
• Item 1 27
• Item 4 3
• Item 3 3
• Item 6 2