United Rentals Financial Performance and Market Exposure
2019 Financial outlook
Total Revenue
Adjusted EBITDA*
Net Rental Capital Expenditures
$9.15 billion to $9.55 billion
$4.35 billion to $4.55 billion
$1.40 billion to $1.55 billion, after gross.
purchases of $2.15 billion to $2.30 billion.
$2.85 billion to $3.20 billion
Net Cash Provided by Operating Activities
Free Cash Flow*
$1.3 billion to $1.5 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.
** FCF outlook assumptions include 2019 cash taxes of $250M 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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