Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Each machine earned more, not just more machines
Rental revenue grew 17.8%, well beyond a 7.9% larger fleet, because rates, time on rent and mix improved.
For investorsWhat has to hold for this margin gain to last
For foundersRunning a business built on assets that never stop costing
Depreciation grew half as fast as rentals, lifting operating income 26.5% on revenue up 15.7%.
Net interest barely moved as operating income rose, so net income grew 31.2% and diluted earnings per share faster still.
Its 1,795 locations let idle equipment move between branches to wherever demand is, which a single-branch rival cannot do.
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Business Lens describes United Rentals from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
