United Rentals

United Rentals, Inc. (NYSE: URI) operates as the largest equipment rental company in the world, serving customers throughout the United States and Canada with a smaller presence in Europe, Australia and New Zealand. The company maintains its website at www.unitedrentals.com.

United Rentals conducts its operations primarily through its wholly owned subsidiary, United Rentals (North America), Inc., and operates a global branch network of 1,768 rental locations. The company maintains a fleet with an original equipment cost of $22.5 billion, comprising approximately 1.1 million equipment units. The company's employee base consists of approximately 28,500 workers, including 20,300 hourly employees and 8,200 salaried employees.

The company operates through two reportable segments: general rentals and specialty. The general rentals segment, representing 39 percent of equipment rental revenue, includes construction, aerial and industrial equipment, general tools and light equipment, and related services. This segment operates across four geographic divisions—Central, Northeast, Southeast and West. The specialty segment, representing 61 percent of equipment rental revenue, rents trench safety equipment, power and HVAC equipment, fluid solutions equipment, mobile storage equipment and modular office space, and surface protection mats.

United Rentals serves a highly diversified customer base ranging from Fortune 500 companies to small businesses and homeowners. The company's end-markets include industrial and other non-construction activities representing approximately 48 percent of rental revenue, commercial construction representing approximately 48 percent, and residential construction representing approximately four percent. Equipment rental revenue comprises 86 percent of total revenues, with the remainder derived from sales of rental equipment, sales of new equipment, contractor supplies sales, and service and other revenues.

The company maintains significant competitive advantages including its large and diverse rental fleet, substantial purchasing power with vendors, a dedicated national account program serving customers with annual equipment rental spend of at least $500,000, and proprietary technology platforms including Total Control®, which enables key customers to monitor and manage their equipment needs. The company estimates its North American market share at approximately 15 percent based on industry data excluding party and event rentals.