Q4 2023 Earnings Report
Growth: Strategy supports meaningful
outperformance of industry
Growth Drivers
180%
160%
--Indexed Growth: URI Rental
Revenue (10.7% CAGR)
-Indexed Growth: NAM Industry
ex-URI (6.0% CAGR)
140%
120%
100%
80%
2019
2020
2021
2022
2023
URI Has Grown ~2x the Industry Rate Over the Last Five Years
Sources: Company data, American Rental Association.
Note: Reflects indexed growth for the North American industry ex-URI North America rental revenue based on ARA data vs. URI North America rental revenue.
United Rentals®
Work United®
Smart M&A
✓ Secular shift towards rental over
ownership
✓ Increased cross-selling to capture wallet
share and maximize cyclical growth
Evolution of sales strategies and asset
base to better serve customers
✓ Differentiation through new technologies
and accelerated innovation
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