STAMFORD, Conn. - United Rentals , Inc. (NYSE: NYSE:URI), the world's largest equipment rental company and a $49.7 billion market cap giant, has announced the appointment of Julie Brandt to its board of directors, effective as of today. The company's stock, which has delivered a 39% return over the past year according to InvestingPro data, currently trades above its Fair Value estimate. The addition of Brandt brings the board's total membership to 11, with nine serving as independent directors.
Brandt's current role as Corporate Vice President and President, Global Commercial & Field Operations at Johnson Controls (NYSE:JCI) positions her as a key figure in driving strategic initiatives and operational excellence. Her background includes a significant tenure at Otis Elevator Company, where she managed various aspects of the business across different global regions. Brandt's extensive experience in the construction industry and her track record of leading high-performing teams are expected to contribute to the strategic objectives of United Rentals.
Michael Kneeland, chairman of United Rentals, expressed enthusiasm for Brandt's joining, highlighting her leadership skills and operational expertise as valuable assets to the board. Kneeland also noted Brandt's deep understanding of the dynamics of scaling customer service in a large, networked business.
Brandt holds an MBA and a bachelor's degree in International Business and Marketing from Indiana University’s Kelley School of Business. Her educational background complements her professional achievements, providing a strong foundation for her new role on the board.
United Rentals operates an integrated network of rental locations across North America, Europe, Australia, and New Zealand, with a workforce of approximately 27,550 employees. The company's extensive equipment offering spans around 5,000 classes, catering to a diverse customer base that includes construction and industrial sectors, utilities, municipalities, and homeowners. With annual revenue of $15 billion and an impressive 41% gross profit margin, United Rentals demonstrates strong operational efficiency. InvestingPro analysis reveals 10+ additional insights about the company's financial health and market position, available to subscribers.
This expansion of the board aligns with United Rentals' commitment to growth and customer service excellence, reflected in its 7.8% revenue growth and robust EBITDA of $4.5 billion in the last twelve months. The company maintains a strong market presence with a "GREAT" overall financial health score according to InvestingPro's comprehensive analysis. The information for this article is based on a press release statement from United Rentals, Inc. and enhanced with InvestingPro's detailed financial metrics, available through their Pro Research Report covering 1,400+ top US stocks.
In other recent news, United Rentals has announced plans to acquire H&E Equipment Services, a move designed to enhance its general rental segment. The deal, valued at approximately $4.8 billion, is anticipated to close in the first quarter of 2025. As a result, United Rentals will temporarily halt its stock buyback program to manage its leverage ratio. Bernstein analysts maintain an Underperform rating on United Rentals, despite acknowledging the acquisition's potential to strengthen the company's position in the GenRent space.
On the analyst front, Baird upgraded United Rentals from Underperform to Neutral, and Evercore ISI maintained its Outperform rating. KeyBanc Capital Markets also maintained a Sector Weight rating on the company, expressing optimism about the potential long-term benefits of the acquisition.
United Rentals reported record-breaking third-quarter revenues of nearly $4 billion, with rental revenues reaching $3.5 billion. The company's adjusted EBITDA hit $1.9 billion, demonstrating a robust financial performance. Despite uncertainties tied to market conditions and inflation pressures, United Rentals forecasts full-year revenue to fall between $15.1 billion and $15.3 billion, with adjusted EBITDA ranging from $7.115 billion to $7.215 billion. These recent developments underscore United Rentals' financial strength and market position in the equipment rental industry.
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