United Rentals (URI) is a fundamentally improved, capital-intensive compounder with strong Specialty segment growth and margin recovery, but current valuation already prices in much of the upside. Q3 results exceeded expectations: fleet productivity up 6.5%, Specialty gross margin rebounded to 47.6%, and ROIC reached 12.3%, supporting a modest fair value increase. I rate URI as Hold near $1,069, with a new fair value range of $1,000–$1,025; I would consider buying below $900, and be aggressive below $850 if fundamentals hold.

UVE, HAS, TXN, URI and ISRG have been added to the Zacks Rank #1 (Strong Buy) List on October 23, 2026.

Total revenue grew 16% year over year to $4.9 billion. Specialty rental revenue increased 35% year over year.

United Rentals NYSE: URI reported record third-quarter results and raised its full-year outlook, citing sustained demand from large projects across construction, infrastructure, energy, manufacturing and data-center-related end markets.

Total Revenue: Grew 16% year-over-year to $4.9 billion, a quarterly record.Rental Revenue: Increased 18% to $4.3 billion, a quarterly record.Fleet Productivity:

United Rentals, Inc. ( URI ) Q3 2026 Earnings Call October 22, 2026 8:30 AM EDT Company Participants Matthew Flannery - President, CEO & Director William Grace - Executive VP & CFO Conference Call Participants David Raso - Evercore ISI Institutional Equities, Research Division Robert Wertheimer - Melius Research LLC Jerry Revich - Wells Fargo Securities, LLC, Research Division Angel Castillo Malpica - Morgan Stanley, Research Division Seth Weber - BNP Paribas, Research Division Kyle Menges - Citigroup Inc., Research Division Charles Albert Dillard - Bernstein Institutional Services LLC, Research Division Mircea Dobre - Robert W. Baird & Co. Incorporated, Research Division Jamie Cook - Truist Securities, Inc., Research Division Steven Fisher - UBS Investment Bank, Research Division Sabahat Khan - RBC Capital Markets, Research Division Daniel Hultberg - Oppenheimer & Co. Inc., Research Division Neil Tyler - Rothschild & Co Redburn, Research Division Presentation Operator Good morning, everyone, and welcome to the United Rentals Investor Conference Call.

URI beats Q3 earnings and revenue estimates as record rental sales and stronger margins drive growth, prompting a higher 2026 outlook.

The headline numbers for United Rentals (URI) give insight into how the company performed in the quarter ended September 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.