United Rentals Inc

URI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$269.00	Tjxb	Fhhfvbbw

United Rentals Earnings: 2024 Sales Guidance Points to Demand Resilience

Dawit Woldemariam

Jan 25, 2024

The key takeaway from United Rentals' fourth-quarter earnings was management’s confidence that sales growth will continue in 2024 despite coming off high levels in the last few years. Revenue growth in 2024 will have to contend with a tough 2023 comparison, when sales increased 23% year on year. That said, the equipment rental market continues to show signs of growth in the near term as more construction contractors choose to rent equipment instead of owning it. Putting these factors together, we think United Rentals’ top line will grow by 4% in 2024, near the midpoint of management's guidance.

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