Investor Presentaiton
2019 Financial outlook
Total Revenue
$9.15 billion to $9.45 billion
Adjusted EBITDA*
Net Rental Capital Expenditures
Net Cash Provided by Operating Activities
$4.35 billion to $4.5 billion
$1.3 billion to $1.4 billion, after gross purchases
of $2.05 billion to $2.15 billion
$2.85 billion to $3.1 billion
Free Cash Flow*
$1.4 billion to $1.55 billion**
*Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See the table provided elsewhere in this presentation for a reconciliation of forecasted Free Cash Flow to the most comparable GAAP measure. Information
reconciling forecasted adjusted EBITDA to the most comparable GAAP financial measures is unavailable to the company without unreasonable effort, as discussed in the "Introductory Information" slide.
**Excludes merger and restructuring related payments. FCF outlook assumptions include 2019 cash taxes of $235M and cash interest of $600M.
United Rentals®
United Rentals, Inc., 100 First Stamford Place, Stamford, CT 06902. 2018 United Rentals, Inc. All rights reserved.
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